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House price index shows average 7.7% increase in property prices (17 November 2016)

Date: 17/11/2016
Duncan Lewis, Legal News Solicitors, House price index shows average 7.7% increase in property prices

The UK House Price Index on house price changes for England, Scotland, Wales and Northern Ireland has revealed that September figures show an annual price increase of 7.7%, taking the average property value in the UK to £217,888.

Data from the Land Registry show monthly house prices have risen by 0.2% since August 2016 and the monthly index figure for the UK was 114.3.

In England, the September data shows an annual price increase of 8.3%, which takes the average property value to £234,250 – monthly house prices have risen by 0.2% since August 2016.

Wales shows an annual price increase of 4.4%, taking the average property value to £146,388 – monthly house prices have risen by 0.2% since August 2016.

London shows an annual price increase of 10.9%, which takes the average property value to £487,649 – monthly house prices have risen by 1.4% since August 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 price movement of 12.1%.

London experienced the greatest monthly growth, with an increase of 1.4% –while the northeast saw the lowest annual price growth, with an increase of 1.5%.

The northeast saw the most significant monthly price fall, with movement of
-1.9%.

Home sales in the UK fell by 4.3% between August and September, with levels remaining lower than in 2014 and 2015 – and before the stamp duty changes in early 2016.

During July 2016 – the most up-to-date Land Registry figures available – the number of completed house sales in England fell by 28.1% to 66,870, compared with 93,040 in July 2015.

The number of completed house sales in Wales fell by 23.4% to 3,525, compared with 4,603 in July 2015.

The number of completed house sales in London fell by 43.3% to 7,074, compared with 12,481 in July 2015.

The figures also show that there were 490 repossession sales in England in July 2016, as well as a total of 54 repossession sales in Wales in July 2016.

The lowest number of repossession sales in England and Wales in July 2016 was in the East of England.

Duncan Lewis Housing Solicitors



Duncan Lewis housing solicitors can advise on a wide range of housing law, including advising developers and self builders on planning permissions and planning appeals.

There are Duncan Lewis offices across England and Wales and our housing team is also able to advise on:

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  • Mortgage repossession

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  • Unlawful eviction.


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