UK House Price Index (HPI) for October 2016
13 Dec 2016 09:57 AM
The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland.
The October data shows an annual price increase of 6.9% which takes the average property value in the UK to £216,674. Monthly house prices have risen by 0.1% since September 2016. The monthly index figure for the UK was 113.6.
In England, the October data shows an annual price increase of 7.4% which takes the average property value to £232,655. Monthly house prices fell by 0.1% since September 2016.
Wales shows an annual price increase of 4.4% which takes the average property value to £147,065. Monthly house prices have risen by 1% since September 2016.
London shows an annual price increase of 7.7% which takes the average property value to £474,475. Monthly house prices fell by 1.2% since September 2016.
The regional data indicates that:
- the East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 12.3%
- the East of England also experienced the greatest monthly growth with an increase of 1.3%
- the North East saw the lowest annual price growth with an increase of 2.7%
- the North East also saw the most significant monthly price fall with a movement of -1.3%.
Home sales in the UK increased by 1.0% between September and October. Compared with October 2015 the level of home sales in October 2016 is 8.0% lower. See the economic statement.
Sales during August 2016, the most up-to-date Land Registry figures available, show that:
the number of completed house sales in England fell by 20.3% to 67,396 compared with 84,565 in August 2015
the number of completed house sales in Wales fell by 11.6% to 3,558 compared with 4,025 in August 2015
the number of completed house sales in London fell by 39.3% to 6,607 compared with 10,881 in August 2015
- there were 514 repossession sales in England in August 2016
there were 45 repossession sales in Wales in August 2016
- the lowest number of repossession sales in England and Wales in August 2016 was in the East of England.
Access the full October UK HPI.
Price change by region for England
| England by region |
Monthly change % since September 2016 |
Annual change % since October 2015 |
Average price October 2016 |
| East Midlands |
1.0 |
7.5 |
£176,084 |
| East of England |
1.3 |
12.3 |
£279,148 |
| London |
-1.2 |
7.7 |
£474,475 |
| North East |
-1.3 |
2.7 |
£124,749 |
| North West |
-1.2 |
4.6 |
£148,586 |
| South East |
0.5 |
9.1 |
£312,509 |
| South West |
0.2 |
7.2 |
£240,322 |
| West Midlands |
-0.7 |
6.2 |
£177,937 |
| Yorkshire and The Humber |
-0.2 |
4.2 |
£150,401 |
Average price by property type for England
| Average price by property type (England) |
October 2016 |
October 2015 |
Difference % |
| Detached |
£354,120 |
£326,398 |
8.5 |
| Semi-detached |
£215,616 |
£200,651 |
7.5 |
| Terraced |
£185,774 |
£175,715 |
5.7 |
| Flat/maisonette |
£219,583 |
£202,376 |
8.5 |
| All |
£232,655 |
£216,676 |
7.4 |
Price change for Wales
| Wales |
Monthly change % since September 2016 |
Annual change % since October 2015 |
Average price October 2016 |
| Wales |
1.0 |
4.4 |
£147,065 |
Average price by property type for Wales
| Average price by property type (Wales) |
October 2016 |
October 2015 |
Difference % |
| Detached |
£225,056 |
£211,922 |
6.2 |
| Semi-detached |
£141,981 |
£135,572 |
4.7 |
| Terraced |
£112,146 |
£109,394 |
2.5 |
| Flat/maisonette |
£105,520 |
£101,268 |
4.2 |
| All |
£147,065 |
£140,912 |
4.4 |
Average price by property type for London
| Average price by property type (London) |
October 2016 |
October 2015 |
Difference % |
| Detached |
£895,564 |
£824,799 |
8.6 |
| Semi-detached |
£575,713 |
£525,228 |
9.6 |
| Terraced |
£483,942 |
£455,397 |
6.3 |
| Flat/maisonette |
£420,211 |
£389,400 |
7.9 |
| All |
£474,475 |
£440,484 |
7.7 |
Sales volumes for England
| Month |
Sales 2016 England |
Sales 2015 England |
Difference % |
| July |
66,870 |
93,040 |
-28.1 |
| August |
67,396 |
84,565 |
-20.3 |
Sales volumes for Wales
| Month |
Sales 2016 Wales |
Sales 2015 Wales |
Difference % |
| July |
3,525 |
4,603 |
-23.4 |
| August |
3,558 |
4,025 |
-11.6 |
Sales volumes for London
| Month |
Sales 2016 London |
Sales 2015 London |
Difference % |
| July |
7,074 |
12,481 |
-43.3 |
| August |
6,607 |
10,881 |
-39.3 |
Funding, buyer and building status for England
| England |
Monthly change % since September 2016 |
Annual change % since October 2015 |
Average price October 2016 |
| Cash |
-0.1 |
6.8 |
£218,187 |
| Mortgage |
0.0 |
7.7 |
£239,958 |
| First time buyer |
-0.3 |
7.0 |
£194,768 |
| Former owner occupier |
0.1 |
7.6 |
£264,433 |
| New build |
11.7 |
30.5 |
£335,281 |
| Existing resold property |
-0.9 |
5.8 |
£226,348 |
Funding, buyer and building status for Wales
| Wales |
Monthly change % since September 2016 |
Annual change % since October 2015 |
Average price October 2016 |
| Cash |
0.9 |
4.0 |
£142,965 |
| Mortgage |
1.1 |
4.6 |
£149,504 |
| First time buyer |
0.7 |
3.9 |
£126,629 |
| Former owner occupier |
1.4 |
4.8 |
£170,963 |
| New build |
13.5 |
26.9 |
£225,123 |
| Existing resold property |
0.2 |
3.0 |
£142,817 |
Funding, buyer and building status for London
| London |
Monthly change % since September 2016 |
Annual change % since October 2015 |
Average price October 2016 |
| Cash |
-1.4 |
7.3 |
£498,567 |
| Mortgage |
-1.1 |
7.8 |
£467,049 |
| First time buyer |
-1.1 |
7.9 |
£415,197 |
| Former owner occupier |
-1.2 |
7.6 |
£535,020 |
| New build |
9.7 |
29.3 |
£565,003 |
| Existing resold property |
-2.0 |
6.0 |
£467,443 |