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

Love or Hate Rightmove
Breaking News

Rightmove asks government to consider retaining first-time buyer stamp duty threshold

New analysis shows only 37% of homes for sale will be eligible for first-time buyer stamp duty relief in England come next April, down from 58% of homes that are currently eligible Currently, a first-time buyer pays no stamp duty on properties up to £425,000, but this is due to drop back to £300,000 from…
Read More →
Estate Agent Talk

5 Steps to Becoming the Best Estate Agent in Your Town

Are you passionate about your estate agency and want to become the most noted estate agency in your local area? Finding a family their dream home can feel like the greatest accomplishment, and can be extremely rewarding. In order to become the best estate agent in town, here are some top tips for success. 1.…
Read More →
Breaking News

Breaking Property News – 25/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Latest property data trust framework helps digitise conveyancing The Open Property Data Association (OPDA) has released the newest version of its property data trust framework which, among other benefits, will help key conveyancing information to be provided digitally. It will be easier for consumers to…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker

Matt Smith, Rightmove’s mortgage expert said: “We’ve seen average mortgage rates drop at a pace not seen for a while this week, faster than many expected as lender competition hots up. The first sub 4% rate for those with larger deposits and prepared to pay a higher fee is the headline-grabber, but we’ve also seen…
Read More →
Coastal and sea front property
Estate Agent Talk

Why You Should Invest in Herne Bay Property

Herne Bay, a charming coastal town in Kent, is fast becoming a hotspot for property investment. With its picturesque seafront, vibrant community, and excellent transport links, Herne Bay offers a wealth of opportunities for property investors. If you are considering a property investment and looking for estate agents in Herne Bay to guide you through…
Read More →
Breaking News

Breaking Property News – 24/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   The recent UK election, with a new Labour government, is set to have significant implications for lettings. As housing is a devolved matter in Wales, local governance and devolution will play a crucial role in shaping this sector. Williams & Goodwin The Property People,…
Read More →