MONTHLY FACT FILE – April 2017
AVERAGE HOUSE PRICES
Note: all figures below are the most recently available data.
UK House Price Index – February 17
Data source: Land Registry
UK Average = £217,502, up 5.8% over the year, a 0.6% increase over the month
Halifax – March 17
UK Average = £219,755, up 0.0% in the month, up 0.1% in the quarter, up 3.8% in the year.
Nationwide – March 17
UK average = £207,308 up -0.3% in the month, up 1.0% in the quarter, up 3.5% in the year.
LSL / Acadata – March 17
Average England and Wales = £301,278, up 0.5% from last month, up 3.3% in the year.
Excluding London and the South East: up 4.2% 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||281,665||2.1||10.3|
|West Midlands Region||180,516||1.1||7.0|
|Yorkshire and The Humber||152,591||2.5||5.2|
|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 February 17|
|City of London||848,330||0.2||-10.5|
Figures in bold are the top and bottom of the scale, figures in square brackets are for information only.
Figures exclude the City of London, due to small number of transactions.
RICS Survey Overview.
The RICS Residential Market Survey for March 2017 (published 18th April 2017) says that both “new buyer enquiries and agreed sales were little changed, while the flow of properties coming to market remained in decline”. The survey also indicated that respondents only expect a slight improvement as the year continues with sales projections over the next twelve months being trimmed in the latest report.
The survey also highlighted that the disparity between price trends in London and the rest of the UK had shown signs of widening of late. When figures for London are excluded, price growth momentum has strengthened slightly since December – with figures in the North West showing a particularly healthy increase.
New buyer enquiries were flat for a third successive month, with demand remaining mixed across different parts of the UK. The strongest growth was in Northern Ireland and the South West with buyer interest in London also modestly increasing in four successive months.
In the rental market, tenant demand continued to rise as 11% of respondents noted an increase on a non-seasonally adjusted basis. However, when compared to the same period last year, the growth is much more modest. “The indicator on new landlord instructions remained negative for the sixth straight month”, highlights the imbalance between supply and demand and causing an upward pressure on rents.
London is again an exception and it is anticipated that rents may well continue to soften in the short term and remain broadly flat over the year to come.
Source: Royal Institution of Chartered Surveyors
Rightmove.co.uk is the UK’s leading property website, displaying details of homes for sale or rent to the largest online audience. It is consistently ranked the number one property website in the UK (source: Experian Hitwise). It has around 90% of all properties for sale and at any time displays a stock of over one million properties to buy or rent, worth around £270 billion. The Rightmove.co.uk site attracts over 110 million visits from home movers each month who view in excess of 1.5 billion pages (Rightmove data, 2015).
LSL Acad E&W HPI is derived from Land Registry (LR) house price data, seasonally and mix adjusted by property type. © Crown copyright material reproduced with the permission of Land Registry. The prices are smoothed to show underlying trends. LSL Acad E&W HPI includes cash purchase prices and is the only index based upon the complete, factual house price data for England & Wales, as opposed to a sample.
UK HPI: Monthly house price inflation, calculated using data from Land Registry, Registers of Scotland and Land and Property Services Northern Ireland. This replaces the previous House Price Indices separately published by Office of National Statistics and Land Registry.
All figures within this article are correct at the time of going to press, and are reproduced in good faith. No responsibility will be taken for any decisions taken based on the information contained herein. Always seek professional advice.
Next Monthly Market Fact File due in May 2017.