House Price Index for 2017 showing annual house price increase of 6.2%
The UK House Price Index for January 2017 has been released, with January data showing an annual price increase of 6.2%, with the average property value in the UK up to £218,255.
Monthly house prices have risen by 0.7% since December 2016.
The average property value in Wales is 145,933 with an annual price increase of 4.2%.Monthly house prices have fallen by 0.6% since December 2016.
London shows an annual price increase of 7.3% which takes the average property value to £490,718. Monthly house prices have risen by 3% since December 2016.
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 9.4%, and London has experienced the greatest monthly price growth with an increase of 3%.
The North East saw the lowest annual price growth with an increase of 2.2%
Yorkshire and the Humber saw the most significant monthly price fall with a movement of -2.6%.
Between January 2017 and December 2016, the Royal Institute of Chartered Surveyors (RICS) residential market survey for January 2017 reported little change in transaction volumes and new buyer enquiries.
The most up-to-date Land Registry figures available show that:
- the number of completed house sales in England fell by 21.2% to 62,482 compared with 79,243 in November 2015
- the number of completed house sales in Wales fell by 12.2% to 3,582 compared with 4,082 in November 2015
- the number of completed house sales in London fell by 34.8% to 6,394 compared with 9,806 in November 2015
- there were 652 repossession sales in England in November 2016
- there were 58 repossession sales in Wales in November 2016
- the lowest number of repossession sales in England and Wales in November 2016 was in the East of England
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The post UK House Price Index: January 2017 appeared first on UK Construction Online.
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