UK house prices grew by 4.5%

UK house prices grew by 4.5% in the year to October 2017, experiencing a 0.3 percentage point decrease from the previous month. The average price of a property in the UK was £223,807, according to HM Land Registry Data

The slowest annual growth was in London at 2.1%, down from 2.9% in September 2017. This is the 11th consecutive month where the growth in London house prices has remained below the UK average.

Average price by country and government office region in Oct 17

Price, monthly change and annual change by country and government office region

Country and government office region Price Monthly change Annual change
England £240,860 -0.6% 4.7%
Northern Ireland (Quarter 3 – 2017) £132,169 3.0% 6.0%
Scotland £143,544 -0.7% 2.8%
Wales £153,316 0.8% 4.5%
East Midlands £184,544 0.2% 7.0%
East of England £289,168 0.1% 6.1%
London £481,102 -0.9% 2.1%
North East £127,224 -0.1% 2.4%
North West £154,056 -2.0% 3.9%
South East £322,311 -0.5% 4.6%
South West £251,376 0.2% 6.7%
West Midlands Region £186,351 -1.1% 5.2%
Yorkshire and The Humber £155,281 -1.1% 3.3%

Average monthly price by property type

Property type October 2017 October 2016 Difference
Detached £340,996 £323,441 5.4%
Semi-detached £211,014 £200,703 5.1%
Terraced £179,327 £172,619 3.9%
Flat or maisonette £201,527 £194,540 3.6%
All £223,807 £214,107 4.5%

Nov 2017 – Applications by region and country

Region and country September applications October applications November applications
South East 372,168 407,148 408,756
Greater London 298,966 329,865 339,086
North West 176,591 195,045 200,475
South West 155,495 168,802 173,351
West Midlands 135,283 145,121 152,816
Yorkshire and the Humber 122,127 135,347 135,373
East Midlands 111,411 120,689 125,846
Wales 76,292 80,938 82,646
North 72,506 82,710 81,197
East Anglia 66,034 74,202 74,499
Isles of Scilly 47 106 92
England and Wales (not assigned) 67 95 86
Total 1,586,987 1,740,068 1,774,223

Top 5 local authority areas

Top 5 local authority areas September applications Top 5 local authority areas October applications Top 5 local authority areas November applications
Birmingham 23,631 Birmingham 26,232 Birmingham 27,715
City of Westminster 20,892 City of Westminster 24,087 City of Westminster 23,565
Leeds 18,076 Leeds 19,895 Leeds 20,137
Cornwall 16,809 Manchester 17,810 Cornwall 18,823
Manchester 16,290 Cornwall 17,794 Manchester 18,542

Sources



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