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.
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