UK house prices showed a modest increase of 0.2 percent in August compared with the previous month, according to Land Registry data. An annual price rise of 3.2 percent takes the average UK property value to £232,797.
House Prices Show Gentle Rise
In England the August data shows houses prices have risen on average by 0.2 per cent since July 2018. The annual price rise of 2.9 per cent takes the average property value to £249,748. The East Midlands showed the highest monthly rise in August at 1.5 per cent with the East of England experiencing the most significant monthly drop of 1.1 per cent. House prices in London fell by 0.2 per cent.
UK House Prices
Semi-detached properties experienced the highest annual increase of 4.6 per cent reaching an average price of £223,857 while flats and maisonettes showed no increase standing at £230,443. The average price for a first-time buyer increased marginally by 0.3 per cent to £209,745. Former owner occupiers’ average price paid stayed the same at £283,215.
The North West experienced the highest number of repossession sales at 121 with the lowest in East England at 39 for June this year.
Wales revealed an average rise of 1.9 percent since July 2018 and an annual price rise of 6.2per cent taking the average property value to £162,374. There were 57 repossession sales for Wales in June 2018.
Scotland showed a 0.3 per cent increase in prices in August with an annual increase of 4.1 per cent bringing the average price of a property to £153,309. Semi-detached properties showed the highest annual rise in August of 6% reaching £160,535.
Northern Ireland figures for August will be released next month. Browse over 25 million prices for houses and flats across the UK with Hank Zarihs Associates.