UK House Price Index September 2017
The September data shows an annual price increase of 5.4% which takes the average property value in the UK to £226,367. On average, house prices have risen by 0.4% since August 2017.
In ENGLAND, the September data shows an annual price increase of 5.7% which takes the average property value to £243,945. On average, house prices have risen by 0.6% since August 2017.
The regional data for England indicates that:
- the North West experienced the greatest increase in average property price over the last 12 months, with a movement of 7.3%;
- the North West also experienced the greatest monthly price growth with an increase of 2.1%;
- London saw the lowest annual price growth with an increase of 2.5%; and
- London also saw the only monthly price fall of 0.2%.
| England by region | Monthly change % since August 2017 | Annual change % since September 2016 | Average price September 2017 |
| East Midlands | 0.7 | 6.4 | £184,399 |
| East of England | 0.3 | 5.9 | £289,301 |
| London | -0.2 | 2.5 | £483,568 |
| North East | 0.5 | 4.4 | £130,271 |
| North West | 2.1 | 7.3 | £160,951 |
| South East | 0.3 | 5.5 | £324,465 |
| South West | 0.5 | 6.6 | £252,737 |
| West Midlands | 0.4 | 5.7 | £189,038 |
| Yorkshire and the Humber | 1.0 | 5.6 | £158,884 |
The lowest number of repossession sales in July 2017 was in the East of England.
| Repossession sales | July 2017 |
| East Midlands | 46 |
| East of England | 17 |
| London | 28 |
| North East | 69 |
| North West | 126 |
| South East | 58 |
| South West | 36 |
| Yorkshire and the Humber | 72 |
| West Midlands | 48 |
| England | 500 |
| Average price by property type (England) | September 2017 | September 2016 | Difference % |
| Detached | £368,625 | £346,813 | 6.3 |
| Semi-detached | £225,869 | £213,476 | 5.8 |
| Terraced | £197,532 | £186,667 | 5.8 |
| Flat/maisonette | £227,672 | £217,713 | 4.6 |
| All | £243,945 | £230,848 | 5.7 |
| England | Monthly price change % since August 2017 | Annual price change % since September 2016 | Average price September 2017 |
| Cash | 0.7 | 5.7 | £229,572 |
| Mortgage | 0.6 | 5.6 | £251,186 |
| First-time buyer | 0.6 | 5.3 | £204,549 |
| Former owner occupier | 0.6 | 5.9 | £276,995 |
| New build | 2.1 | 8.0 | £300,030 |
| Existing resold property | 0.5 | 5.5 | £240,143 |
The most up-to-date HM Land Registry sales figures available for England show:
- the number of completed house sales in July 2017 fell by 17.1% to 64,592 compared with 77,919 in July 2016; and
- there were 500 repossession sales in July 2017.
| Month | Sales 2017 England | Sales 2016 England | Difference % |
| June | 69,681 | 74,259 | -6.2 |
| July | 64,592 | 77,919 | -17.1 |
LONDON shows an annual price increase of 2.5% which takes the average property value to £483,568. On average, house prices have fallen by 0.2% since August 2017.
| Average price by property type (London) | September 2017 | September 2016 | Difference % |
| Detached | £917,729 | £883,706 | 3.9 |
| Semi-detached | £581,225 | £565,376 | 2.8 |
| Terraced | £498,705 | £486,660 | 2.5 |
| Flat/maisonette | £426,709 | £416,967 | 2.3 |
| All | £483,568 | £471,767 | 2.5 |
| London | Monthly price change % since August 2017 | Annual price change % since September 2016 | Average price September 2017 |
| Cash | -0.3 | 1.9 | £506,060 |
| Mortgage | -0.2 | 2.6 | £476,475 |
| First-time buyer | -0.1 | 2.2 | £422,380 |
| Former owner occupier | -0.3 | 2.8 | £546,455 |
| New build | 2.9 | 6.4 | £504,065 |
| Existing resold property | -0.4 | 2.2 | £481,880 |
The most up-to-date HM Land Registry sales figures available for London show the number of completed house sales in July 2017 fell by 24.5% to 6,639 compared with 8,794 in July 2016.
| Month | Sales 2017 London | Sales 2016 London | Difference % |
| June | 7,305 | 8,464 | -13.7 |
| July | 6,639 | 8,794 | -24.5 |
WALES shows an annual price increase of 5.3% which takes the average property value to £152,661. On average, house prices have risen by 0.6% since August 2017.
| Average price by property type (Wales) | September 2017 | September 2016 | Difference % |
| Detached | £230,342 | £218,339 | 5.5 |
| Semi-detached | £147,025 | £139,442 | 5.4 |
| Terraced | £118,417 | £112,455 | 5.3 |
| Flat/maisonette | £108,456 | £104,114 | 4.2 |
| All | £152,661 | £144,976 | 5.3 |
| Wales | Monthly price change % since August 2017 | Annual price change % since September 2016 | Average price September 2017 |
| Cash | 0.4 | 4.9 | £148,467 |
| Mortgage | 0.6 | 5.5 | £155,149 |
| First-time buyer | 0.5 | 5.0 | £131,735 |
| Former owner occupier | 0.6 | 5.6 | £177,098 |
| New build | 2.2 | 7.6 | £198,204 |
| Existing resold property | 0.5 | 5.1 | £149,872 |
The most up-to-date HM Land Registry sales figures available for Wales show:
- the number of completed house sales in July 2017 fell by 11.3% to 3,599 compared with 4,057 in July 2016; and
- there were 54 repossession sales in July 2017.
| Month | Sales 2017 Wales | Sales 2016 Wales | Difference % |
| June | 4,026 | 3,812 | 5.6 |
| July | 3,599 | 4,057 | -11.3 |
The UK Property Transaction Statistics showed that the number of seasonally adjusted transactions on UK properties with a value of £40,000 or greater has increased by 4.6% between September 2016 and September 2017. However, comparing September 2017 to August 2017, the number of seasonally adjusted property transactions has decreased by 1.8%.
The Bank of England’s Agent’s summary of business conditions reported that supply and demand appeared to be broadly in balance across the overall market. Demand had proved more resilient in the new-build sector and the help to buy scheme was regarded as crucial to sustaining demand among first-time buyers.
Looking more closely at regional levels of the UK, the largest annual growth was in the North West at 7.3% up from 5% in August 2017. The slowest annual growth was in London at 2.5%. This is the 10th consecutive month where the growth in London house prices has remained below the UK average. See the economic statement..
Kindly shared by Land Registry
