UK House prices increased 6.9% in yr to October 2016

December 14, 2016

Statistical Bulletin from the Office for National Statistics (ONS) released yesterday 13th December 2016……House Price Index October 2016.

The UK HPI is a joint production by Land Registry, Land and Property Services Northern Ireland, Office for National Statistics and Registers of Scotland.

Average house prices in the UK have increased by 6.9% in the year to October 2016 (down from 7.0% in the year to September 2016), continuing the strong growth seen since the end of 2013.

The average UK house price was £217,000 in October 2016. This is £14,000 higher than in October 2015 and unchanged from last month.

The main contribution to the increase in UK house prices came from England, where house prices increased by 7.4% over the year to October 2016, with the average price in England now £233,000. Wales saw house prices increase by 4.4% over the last 12 months to stand at £147,000. In Scotland, the average price increased by 4.0% over the year to stand at £143,000. The average price in Northern Ireland currently stands at £124,000.

To read the ONS Statistical Bulletin October in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Halifax House Price Index for August

UK house prices edge up to hit two-year high   House prices in August 2024 were 4.3% higher than the same month a year earlier. House prices increased by +0.3% in August, after +0.9% rise in July Year-on-year prices are up +4.3%, the strongest rate since November 2022 Higher annual growth largely reflects the base…
Read More →
Breaking News

Nationwide House Price Index for August

Annual house price growth edged higher in August   UK house prices fell 0.2% month on month in August Annual growth rate picked up to 2.4%, from 2.1% in July Fastest pace of annual growth since December 2022 Energy efficiency becoming more important in influencing what buyers will pay for a home   Headlines Aug-24…
Read More →
Breaking News

Rightmove Points to Worsening Crisis in Private Rented Sector

Responding to data published today by Rightmove suggesting that the number of former rental properties up for sale is now at its highest level on record, Chris Norris, Policy Director for the National Residential Landlords Association, said: “Today’s data will be a serious concern for all those renters struggling to find somewhere to call home. …
Read More →
Rightmove logo
Breaking News

Record levels of former rental homes for sale

The proportion of former rental properties moving into the sales market is at its highest on record, indicating more landlords are selling up, some potentially driven by the mooted increase in Capital Gains Tax in the Autumn Statement on 30th October: 18% of properties now for sale were previously on the rental market, compared with…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 4th September 2024

The lowest available 5-year fixed rate mortgage is now 3.77% (for 60% LTV), which is the lowest a five-year fixed rate has been since before the mini-Budget in September 2022. Other key points this week include the average 5-year fixed mortgage being a full 1.0% lower than last year, and the average 60% 5-year rate…
Read More →
Breaking News

Breaking Property News 04/09/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Property Technology in the UK: Trends, Growth, and Challenges Proptech, (Property Technology), having exploded in the UK in 2017 with 60% of new startups in the sector clambering to be the next big thing – is seven years on now maturing. All the hype…
Read More →