Fri 18 Aug 2017 View all news articles

Housing market stable across UK although London still lags

UK house prices grew by 4.9 per cent in the year to the end of June according to the government’s official index. 

This is a tiny 0.1 per cent lower than in the year to the end of May; although the annual growth rate has slowed since mid-2016 it has remained broadly around five per cent. 

The June data produced by the Land Registry shows the average residential property value now hitting £223,257, but with significant regional differences.

In England, an annual price increase of 5.2 per cent which takes the average property value to £240,325. Monthly house prices have risen by 0.8 per cent since May.

For Wales the price rise over the year was 3.6 per cent taking the average property value to £151,672. Monthly house prices have risen by 2.9 per cent since May.

Meanwhile in London there was an annual price increase of 2.9 per cent and the average property value is now £481,556 - this is after a 0.7 per cent drop since May.

Source: Estate Agent Today

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