House prices increased by 8.7% in the year to June
House prices in England and Wales rose by 8.7% in the year to June, according to the latest figures in the UK House Price Index provided by the Land Registry.
The monthly increase from May was 1.0% taking the price of the average house in the UK to £213,927.
In England, the June data showed an annual price increase of 9.3%, which took the average property value to £229,383. Monthly house prices rose by 0.8% since May 2016.
Wales showed an annual price increase of 4.9%, taking the average property value to £145,238. Monthly house prices rose by 1.2% since May 2016.
London produced an annual price increase of 12.6%, creating an average property value of £472,204. Monthly house prices rose by 0.2% since May 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 14.3%
- the South East experienced the greatest monthly growth with an increase of 1.5%
- the North East saw the lowest annual price growth with an increase of 1.5%
- the West Midlands and the North East each saw the most significant monthly price fall with a movement of -0.2%.
It should be remembered that the figures do not include the full impact of the Brexit referendum decision on June 24.
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