Recent data and analysis from ONS has shown that across the UK during August average house prices rose by 5% – a 0.5% increase from July.
Other Key Findings
- According to ONS, this is above the average annual growth rate, which the organisation suggests has “remained broadly under 5%” during 2017 so far.
- The main contribution to the increase in UK house prices came from England, where house prices increased by 5.3% over the year to August 2017
- Average house price in England now £244,000.
- Wales saw house prices increase by 3.4%. In Scotland, the average price increased by 3.9% o
- The North West showed the highest annual growth, with prices increasing by 6.5% in the year to August 2017.
- East of England, East Midlands and South West, where prices increased by 6.4% in each. The lowest annual growth was in London, where prices increased by 2.6% over the year, followed by the North East at 3.7%