UK house prices increase by 7.2 pct in 2016
UK Government-Land Registry has released its UK House Price Index (HPI) for December 2016 results .The December data shows an annual price increase of 7.2% which takes the average property value in the UK to £219,544. Monthly house prices have risen by 1.4% since November 2016. The monthly index figure for the UK was 115.2.
In England, the December data shows an annual price increase of 7.7% which takes the average property value to £236,424. Monthly house prices have risen by 1.6% since November 2016.
Wales shows an annual price increase of 4.7% which takes the average property value to £148,177. Monthly house prices have risen by 1% since November 2016.
London shows an annual price increase of 7.5% which takes the average property value to £483,803. Monthly house prices have risen by 1.8% since November 2016.
The regional data indicates that:
-the East of England experienced the greatest increase in its average property price over the last 12 months with a movement of 11.3%
-the North East experienced the greatest monthly price growth with an increase of 2.3%
-the North East saw the lowest annual price growth with an increase of 4.1%
-the West Midlands saw the most significant monthly price fall with a movement of 0.4%.
-UK Property Transaction statistics show the number of home sales in the UK (seasonally adjusted) increased by 0.2% between November and December 2016, but compared with December 2015 there were 8.5% fewer home sales. See the economic statement.
Sales during October 2016, the most up-to-date Land Registry figures available, show that:
-the number of completed house sales in England fell by 34.5% to 58,853 compared with 89,884 in October 2015
-the number of completed house sales in Wales fell by 25.9% to 3,415 compared with 4,610 in October 2015
-the number of completed house sales in London fell by 44.9% to 6,166 compared with 11,200 in October 2015
-there were 617 repossession sales in England in October 2016
-there were 53 repossession sales in Wales in October 2016
-the lowest number of repossession sales in England and Wales in October 2016 was in the East of England.
Price change by region for England
|England by region||Monthly change % since November 2016||Annual change % since December 2015||Average price December 2016|
|East of England||1.9||11.3||£281,513|
|Yorkshire and The Humber||2.2||6.5||£154,985|