Things are certainly looking positive for the housing market!
UK house prices grew by 4.9 per cent in the year to the end of June according to the government’s official index.
This is a tiny 0.1 per cent lower than in the year to the end of May; although the annual growth rate has slowed since mid-2016 it has remained broadly around five per cent.
The June data produced by the Land Registry shows the average residential property value now hitting £223,257, but with significant regional differences.
In England, an annual price increase of 5.2 per cent which takes the average property value to £240,325. Monthly house prices have risen by 0.8 per cent since May.
Statistics about deals released at the same time show that in June the seasonally adjusted number of transactions completed in the UK with a value of £40,000 or above fell 3.3 per cent drop during June itself, compared with May.
The number of completed house sales in England in April - the most recent data available - rose by 1.6 per cent to 53,410 compared with 52,590 in April 2016; in Wales the rise was 9.9 per cent to 3,101 compared with 2,822 in April 2016; and in London the number of completed house sales rose by 1.3 per cent to 5,823 compared with 5,746 in April 2016.
Graham Davidson, managing director of buy to let specialist Sequre Property Investment, says the figures reflect “a wholly resilient market in England”; he says there is “fierce competition for property in key northern cities such as Manchester and Liverpool.”
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For the full article, see: https://www.estateagenttoday.co.uk/breaking-news/2017/8/housing-market-stable-across-uk-although-london-still-lags