House Price Index

UK House Price Index (HPI) for August 2016

The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland.


From:Land Registry First published:18 October 2016

The August data shows an annual price increase of 8.4% which takes the average property value in the UK to £218,964. Monthly house prices have risen by 1.3% since July 2016. The monthly index figure for the UK was 114.8.

In England, the August data shows an annual price increase of 9.2% which takes the average property value to £235,573. Monthly house prices have risen by 1.4% since July 2016.

Wales shows an annual price increase of 2.7% which takes the average property value to £144,514. Monthly house prices have fallen by 0.6% since July 2016.

London shows an annual price increase of 12.1% which takes the average property value to £488,908. Monthly house prices have risen by 1.3% since July 2016.

The regional data indicates that:

·         the East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 13.3%

·         the South West experienced the greatest monthly growth with an increase of 2.3%

·         the North East saw the lowest annual price growth with an increase of 3%

·         the North East saw the only monthly price fall with a movement of -0.2%

UK home sales grew by 8.4% in the year to August, up slightly from 8.0% in July. Although demand and supply were broadly unchanged compared with the previous month, the indicators remained somewhat weaker t


han in 2015 and early 2016. See the economic statement.

 

House price by region

House Sales Volume

House Price Change















Sales during June 2016, the most up-to-date Land Registry figures available, show that:

·         the number of completed house sales in England fell by 32.2% to 57,637 compared with 85,020 in June 2015

·         the number of completed house sales in Wales fell by 27.1% to 3,046 compared with 4,181 in June 2015

·         the number of completed house sales in London fell by 46.7% to 5,966 compared with 11,202 in June 2015

·         there were 526 repossession sales in England in June 2016

·         there were 55 repossession sales in Wales in June 2016

·         the lowest number of repossession sales in England and Wales in June 2016 was in the East of England

Access the full August UK HPI

 Price change by region for England

England by region

Monthly change % since July 2016

Annual change % since August 2015

Average price August 2016

East Midlands

1.6

7.6

£175,610

East of England

1.4

13.3

£276,952

London

1.3

12.1

£488,908

North East

-0.2

3.0

£127,385

North West

0.9

6.3

£151,489

South East

1.9

12.2

£317,904

South West

2.3

9.0

£243,226

West Midlands

1.6

6.9

£179,429

Yorkshire and The Humber

0.6

4.9

£152,394

Average price by property type for England

Average price by property type (England)

August 2016

August 2015

Difference %

Detached

£355,055

£324,044

9.6

Semi-detached

£217,743

£199,784

9.0

Terraced

£189,939

£175,208

8.4

Flat/maisonette

£222,434

£201,842

10.2

All

£235,573

£215,756

9.2

Price change for Wales

Wales

Monthly change % since July 2016

Annual change % since August 2015

Average price August 2016

Wales

-0.6

2.7

£144,514

Average price by property type for Wales

Average price by property type (Wales)

August 2016

August 2015

Difference %

Detached

£217,843

£211,403

3.0

Semi-detached

£138,861

£134,539

3.2

Terraced

£112,112

£109,681

2.2

Flat/maisonette

£103,738

£101,519

2.2

All

£144,514

£140,651

2.7

Average price by property type for London

Average price by property type (London)

August 2016

August 2015

Difference %

Detached

£911,662

£805,864

13.1

Semi-detached

£582,816

£514,997

13.2

Terraced

£504,408

£448,942

12.4

Flat/maisonette

£432,887

£387,978

11.6

All

£488,908

£436,152

12.1

Sales volumes for England

Month

Sales 2016 England

Sales 2015 England

Difference %

May

49,795

74,897

-33.5

June

57,637

85,020

-32.2

Sales volumes for Wales

Month

Sales 2016 Wales

Sales 2015 Wales

Difference %

May

2,596

3,685

-29.6

June

3,046

4,181

-27.1

Sales volumes for London

Month

Sales 2016 London

Sales 2015 London

Difference %

May

5,111

9,466

-46.0

June

5,966

11,202

-46.7

Funding, buyer and building status for England

England

Monthly change % since July 2016

Annual change % since August 2015

Average price August 2016

Cash

1.4

8.4

£220,891

Mortgage

1.4

9.5

£242,984

First-time buyer

1.2

9.0

£197,622

Former owner occupier

1.5

9.3

£267,347

New build

13.6

26.4

£320,454

Existing resold property

0.5

8.0

£230,183

Funding, buyer and building status for Wales

Wales

Monthly change % since July 2016

Annual change % since August 2015

Average price August 2016

Cash

-0.8

1.7

£140,327

Mortgage

-0.4

3.3

£147,007

First-time buyer

-0.7

2.5

£124,802

Former owner occupier

-0.4

3.0

£167,497

New build

11.1

20.6

£208,578

Existing resold property

-1.3

1.6

£140,909

Funding, buyer and building status for London

London

Monthly change % since July 2016

Annual change % since August 2015

Average price August 2016

Cash

1.5

11.7

£514,969

Mortgage

1.2

12.2

£480,888

First-time buyer

1.4

12.1

£427,685

Former owner occupier

1.1

12.1

£551,459

New build

13.0

28.1

£548,775

Existing resold property

0.3

10.8

£484,103

Repossession

Repossession sales

June 2016

East Midlands

48

East of England

7

London

33

North East

78

North West

136

South East

57

South West

29

Yorkshire and The Humber

83

West Midlands

55

England

526

Wales

55

 

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