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 November 2024

House prices in November 2024 were 4.8% higher than the same month a year earlier. House prices increased by +1.3% in November, a fifth consecutive monthly increase Property prices are up +4.8% on an annual basis (vs +4.0% last month) Typical property now costs £298,083, a new record Northern Ireland continues to record the strongest…
Read More →
Estate Agent Talk

UK government ignoring construction costs and threatening housing delivery

Commenting on how the UK government is overlooking construction costs, damaging UK housing delivery, Daniel Austin, CEO and co-founder at ASK Partners, said: “Government initiatives such as the 95% mortgage guarantee scheme and £5bn allocation for new homes are clearly positive initiatives. However, a critical issue remains overlooked: the cripplingly high construction costs that severely limit the number…
Read More →
Breaking News

Zoopla reveals buyer behaviour in Property for 2024

2024 in Property: Zoopla reveals buyer behaviour and user trends over the past 12 months, after the busiest sales pipeline in four years   Disney-themed property in Wales is the most viewed property on Zoopla in 2024 with 219,000 views The average time to sell in 2024 was 33 days, down from 34 days in…
Read More →
Breaking News

UK Government’s ambitions for removing unsafe cladding

As at the end of October 2024, there are 4,834 residential buildings 11 metres and over in height identified with unsafe cladding whose remediation progression is being reported on in this release, an increase of 13 since the end of September 2024. Since the department first began reporting on all five remediation programmes in October…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker – 5/12/24

The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More →
new build home fronts
Estate Agent Talk

Five real estate opportunities to watch out for in 2025

Daniel Austin, CEO and co-founder at ASK Partners gives his opinion on five significant real estate opportunities in 2025. The UK real estate market in 2025 is set to offer a diverse range of opportunities. Key growth areas include build-to-rent (BTR), co-living spaces, student housing, hotels and offices. These sectors present promising avenues for investment…
Read More →