House Price Index for 2017 showing annual house price increase of 4.9%

The UK House Price Index for June 2017 has been released, with June data showing an annual price increase of 4.9%, with the average property value in the UK up to £223,257.

Monthly house prices have risen by 0.8% since May 2017.

The average property value in Wales is £151,672 with an annual price increase of 3.6%.Monthly house prices have risen by 2.9% since May 2017.

London shows an annual price increase of 2.9% which takes the average property value to £481,556. Monthly house prices have fallen by 0.7% since May 2017.

The data indicated that the East of England has seen the greatest increase in its average property price over the last 12 months, with a movement of 7.2%, and London has experienced the greatest monthly price fall with a decrease of 0.7%.

The North East saw the lowest annual price growth with an increase of 2.5%

Yorkshire and the Humber saw the most significant monthly price rise with a movement of 2.2%.

The UK Property Transaction statistics showed that in June 2017 the number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above increased by 1% compared with June 2016. Comparing June 2017 with May 2017, property transactions fell by 3.3%.

The most up-to-date Land Registry figures available show that:

• the number of completed house sales in England rose by 1.6% to 53,410 compared with 52,590 in April 2016
• the number of completed house sales in Wales rose by 9.9% to 3,101 compared with 2,822 in April 2016
• the number of completed house sales in London rose by 1.3% to 5,823 compared with 5,746 in April 2016
• there were 510 repossession sales in England in April 2017
• there were 52 repossession sales in Wales in April 2017
• the lowest number of repossession sales in England and Wales in April 2017 was in the East of England

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