A New Milestone: Average Price In England And Wales Tops £300,000

Our friends at LSL Property Services produce a series of monthly reports on the property market including a House Price Index for England and Wales. The following is a brief summary of the report together a link to a fuller version which includes a more detailed analysis.      
• Strong start to the year sets new peak in average house prices 
• January sales volumes beat expectations 
• East of England is top performing region, up 7.1% 
• Barking and Dagenham leads London with 13.6% growth

The market got off to a strong start in 2017, with prices growing 0.3% month on month in January. These latest results push the average price of a home in England and Wales up by £1,029 to reach £300,169 – a new high in the market, and the first fresh peak since March last year. 

It leaves prices in January almost £10,000 higher than in the same month in 2016, when the average was £291,165. Prices have now doubled since they topped £150,000 in November 2002 – despite the slump following the financial crisis. 

Activity in January was also higher than usual for the time of year, with 60,000 transactions. This was lower than the 62,059 in January 2016, which also started strongly, but up by more than 2,000 on 2015. 

Click here to see a more detailed report including a regional analysis and a review of house prices in the last 12 month
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