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Property price growth has remained robust in the East of England



The latest House Prices Index from the Land Registry have now been released for October 2016.  Glenn Ward, from our Residential Property team, summarises the main points:

Headline statistics

-          The average price of a property in the UK was £216,674

-          The annual price change for a property in the UK was 6.9%

-          The monthly change was 0.1%

Variations across regions

Growth in the East of England has remained robust, falling slightly from 14.9% to 12.3%, annual growth between June 2016 and October 2016. 

This is in contrast with London, which saw a more marked slowdown falling from 13.8% to 7.8% annual growth over the same period.

According to the Bank of England, the volume of lending approvals for house purchases increased by 6.2% from September 2016 to October 2016 – although this is still 3.3% lower than October 2015.

Home sales in the UK increased by 1% between September 2016 and October 2016. 

Compared with October 2015, the level of house sales is 8% lower however. 

The full report is available at the following link: https://www.gov.uk/government/statistics/uk-house-price-index-england-october-2016

If you are thinking of buying or selling your home, our experienced and helpful team can help guide you through the process. Call 01603 660 811 or pop in to our Theatre Street office to see how we can help.

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