AVERAGE HOUSE PRICES
Note: all figures below are the most recently available data.
UK House Price Index – January 17
Data source: Land Registry
UK Average = £218,255, up 6.2% over the year, a 0.8% increase over the month
Halifax – February 17
UK Average = £219,949, up 0.1% in the month, up 1.7% in the quarter, up 5.1% in the year.
Nationwide – February 17
UK average = £205,846 up 0.6% in the month, up 0.7% in the quarter, up 4.5% in the year.
LSL / Acadata – January 17
Average England and Wales = £297,832, up 0.6% from last month, up 2.4% in the year.
Excluding London and the South East: up 3.1% in the year.
REGIONAL HOUSE PRICES
|UK HPI regional figures (all percentages are positive unless indicated otherwise)|
|January 17||Average price (£)
|Northern Ireland (Quarter 4 – 2016)||125,480||0.6||5.7|
|East of England||279,231||0.2||9.4|
|West Midlands Region||179,633||0.4||5.8|
|Yorkshire and The Humber||148,458||-2.6||2.7|
|Rightmove regional figures|
|March 2017||Average price (£)
|East of England||339,721||0.8||3.9|
|Yorkshire & Humberside||177,702||1.7||2.2|
|FOCUS ON LONDON||Average Price (£)
|Best and Worst (-) performers according to:|
|Rightmove March 2017|
|Hammersmith & Fulham||935,423||-1.9||-8.6|
|Kensington & Chelsea||1,894,061||-10.9||-19.4|
|City of Westminster||2,115,155||9.8||10.9|
|LSL Acadata January 17|
|City of London||778,756||3.8||-15.8|
RICS Survey Overview.
The RICS Residential Market Survey for February 2017 (published 9th March 2017) says that “new buyer enquiries were again flat and have now failed to see any meaningful growth since November 2016,” and that “at a regional level, momentum remains strongest in the South West and weakest in the East Midlands”.
The national sales indicator highlighted another steady month for property transactions, showing a reading of +2%, with sales activity in London appearing to have picked up after a year of negative to flat growth.
“Price expectations over the next three months were unchanged in February, with 13% more respondents expecting a rise rather than a fall. Both London and the North East of England report near term weakness in prices. At the national level, the outlook improved noticeably over the year to come with a net balance of 63% of surveyors forecasting growth”.
In the rental market, tenant demand rose for the third consecutive month. However, the flow of new landlords decreased, with the weakest reading in over two years – down 10%. It is forecast that this negative trend is to continue at least for the next couple of months as changes to mortgage interest tax relief begin to take effect in April.
In London, the rental market continues to report weak tenant demand along with negative near term rental expectations.
Source: Royal Institution of Chartered Surveyors
Next Monthly Market Fact File due in April 2017.