Land Registry House Price Index

Published / Last Updated on 13/12/2017

House prices increaseHM Land Registry has released its latest house prices figures for October 2017.

The UK House Price Index (UK HPI) figures for October shows:

  • House prices in the UK rising by 4.5% pa
  • The average UK property value is now £223,807

It also added an element in caution in suggesting that for the month (rather than the above yearly figures) house prices fell by 0.5% between September and October 2017

Regional house price variations show that:

  • the East Midlands experienced the greatest rise in average property price over the last 12 months, up by 7%
  • the East Midlands and the South West experienced the greatest monthly price rise, both up by 0.2%
  • London saw the lowest annual price rise, up by 2.1%
  • the North West saw the most significant monthly price fall, down by 2%

Comment

Property prices are slowing down but we suspect the zero stamp duty bonus for first time buyers up to £300,000 that was announced and started at midnight on the day of the budget on 22 November 2017 will offer a minor boost to property prices.  Activity may increase at the first time buyer end and filter upwards to sellers moving onwards and up the property chain.


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