UK House Price Index (HPI) for July 2016
The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland.
The July data shows an annual price increase of 8.3% which takes the average property value in the UK to £216,750. Monthly house prices rose by 0.4% since June 2016. The monthly index figure for the UK was 113.7.
In England, the July data shows an annual price increase of 9.1% which takes the average property value to £232,885. Monthly house prices rose by 0.5% since June 2016.
Wales shows an annual price increase of 4.0% which takes the average property value to £144,828. Monthly house prices fell by 1.8% since June 2016.
London shows an annual price increase of 12.3% which takes the average property value to £484,716. Monthly house prices rose by 1.0% since June 2016.
The regional data indicates that:
- East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 13.2%
- the North East experienced the greatest monthly growth with an increase of 2.3%
- Yorkshire and The Humber saw the lowest annual price growth with an increase of 4.7%
- West Midlands saw the most significant monthly price fall with a movement of -0.8%
UK home sales fell by 0.9% in July 2016 compared to the previous month, which means that home sales on a monthly basis remain below levels seen in 2014 and 2015 and before the stamp duty changes in early 2016. See the economic statement.
Sales during May 2016, the most up-to-date Land Registry figures available, show that:
- the number of completed house sales in England fell by 33.5% to 49,795 compared with 74,897 in May 2015
- the number of completed house sales in Wales fell by 29.6% to 2,596 compared with 3,685 in May 2015
- the number of completed house sales in London fell by 46% to 5,111 compared with 9,466 in May 2015
- there were 494 repossession sales in England in May 2016
- there were 57 repossession sales in Wales in May 2016
- the lowest number of repossession sales in England and Wales in May 2016 was in the East of England
Price change by region for England
|England by region||Monthly change % since June 2016||Annual change % since July 2015||Average price July 2016|
|East of England||0.6||13.2||£273,806|
|Yorkshire and The Humber||0.2||4.7||£151,581|
Average price by property type for England
|Average price by property type (England)||July 2016||July 2015||Difference %|
Price change for Wales
|Wales||Monthly change % since June 2016||Annual change % since July 2015||Average price July 2016|
Average price by property type for Wales
|Average price by property type (Wales)||July 2016||July 2015||Difference %|
Average price by property type for London
|Average price by property type (London)||July 2016||July 2015||Difference %|
Sales volumes for England
|Month||Sales 2016 England||Sales 2015 England||Difference %|
Sales volumes for Wales
|Month||Sales 2016 Wales||Sales 2015 Wales||Difference %|
Sales volumes for London
|Month||Sales 2016 London||Sales 2015 London||Difference %|
Funding, buyer and building status for England
|England||Monthly change %||Annual change %||Average price|
|First time buyer||0.3||8.9||£195,484|
|Former owner occupier||0.6||9.2||£264,184|
|Existing resold property||0.7||8.5||£228,779|
Funding, buyer and building status for Wales
|Wales||Monthly change %||Annual change %||Average price|
|First time buyer||-1.8||4.1||£125,245|
|Former owner occupier||-1.8||4.0||£167,627|
|Existing resold property||-1.7||3.4||£141,815|
Funding, buyer and building status for London