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House prices show an annual rise but a monthly fall

Posted: 10th January 2018   In: Residential Conveyancing

Average house prices throughout the UK rose by 4.5% in the year to October but there are signs that they may be starting fall.

There was a decrease of 0.5% between September and October 2017. However, Wales bucked the trend with an increase of 0.8%.

The price of the average house in the UK is now £223,807.

The figures are compiled by HM Land Registry. They pre-date the changes in Stamp Duty announced in the Budget, and the increases in interest rates.

Price change by region for England

Region

Average price October 2017

Annual change % since October 2016

Monthly change % since September 2017

East Midlands

£184,544

7.0

0.2

East of England

£289,168

6.1

0.1

London

£481,102

2.1

-0.9

North East

£127,224

2.4

-0.1

North West

£154,056

3.9

-2.0

South East

£322,311

4.6

-0.5

South West

£251,376

6.7

0.2

West Midlands

£186,351

5.2

-1.1

Yorkshire and the Humber

£155,281

3.3

-1.1

Wales

The data for Wales shows:

Please contact Eugene Pritchard or Dipak Odedra if you would like advice about the legal aspects of buying or selling a home.

Posted by: Eugene Pritchard
Residential Conveyancing
Luton Office