House Price Growth Continues As Regions Redress The Balance
Our colleagues at LSL Property Services produce a report taken from the latest House Price Index Report for England and Wales. The following is a brief summary of the report together with a link to the full version which includes a more detailed analysis.
- All regions in England and Wales continue to record annual growth
- East of England still leads the way, with 5.5% annual price growth
- London has lowest rate of regional house price growth at 0.7%
- Transaction in August were up 6% compared to July
House price growth fell marginally in August (0.2%), which left the average England and Wales house price at £297,398. This is still 2.1% higher than this time last year, when the average price was £5,982 lower.
In terms of transactions, there were an estimated 80,500 sales completed - an increase of 5% compared to July's total, and up 6% on a seasonally adjusted basis.
House prices in London fell by an average of 1.4% in July, leaving the average price in the capital at £591,459. Over the year, though, prices are still up by £4,134 or 0.7% compared to July 2016.
Click here to see a full copy of the report