PROPERTY PRICES RISE BY 7.2 PERCENT IN THE UNITED KINGDOM

UNITED KINGDOM – Statistics from the U.K Land Registry shows an increase in price of properties by 7.2 percent as at December 2016 in England, Scotland, Wales and Northern Ireland.

The December data takes the average property value in the UK to £219,544 while monthly house prices have risen by 1.4% since November 2016.

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.




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.