The June data for the UK House Price Index, which shows house price changes for England, Scotland, Wales and Northern Ireland, has revealed an annual price increase of 8.7% which takes the average property value in the UK to £213,927.
Monthly house prices rose by 1.0% since May 2016. The monthly index figure for the UK was 112.2.
In England, the June data shows an annual price increase of 9.3% which takes the average property value to £229,383. Monthly house prices rose by 0.8% since May 2016.
Wales shows an annual price increase of 4.9% which takes the average property value to £145,238. Monthly house prices rose by 1.2% since May 2016.
London shows an annual price increase of 12.6% which takes the average property value to £472,204. Monthly house prices rose by 0.2% since May 2016.
The regional data indicates that:
- East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 14.3%
- the South East experienced the greatest monthly growth with an increase of 1.5%
- the North East saw the lowest annual price growth with an increase of 1.5%
- the West Midlands and the North East each saw the most significant monthly price fall with a movement of -0.2%.
Following a strong increase in sales in March, UK home sales fell by 55.4% in April 2016, recovering slightly in May and June 2016. See the economic statement.
Sales during April 2016, the most up-to-date Land Registry figures available, show that:
- the number of completed house sales in England fell by 33.4% to 42,938 compared with 64,467 in April 2015
- the number of completed house sales in Wales fell by 26% to 2,394 compared with 3,237 in April 2015
- the number of completed house sales in London fell by 49.7% to 4,368 compared with 8,678 in April 2015
- there were 169 repossession sales in England in April 2016
- there were 20 repossession sales in Wales in April 2016
- the lowest number of repossession sales in England and Wales in April 2016 was in London.
