The December data shows an annual price increase of 6.4 per cent which takes the average property value in England and Wales to £188,270. Monthly house prices up 1.2 per cent since November 2015.
The regional data indicates that:
-
•London experienced the greatest increase in its average property value over the last 12 months with a movement of 12.4 per cent
-
•London also experienced the greatest monthly growth with an increase of 2.1 per cent
-
•The North East saw the lowest annual price growth with increases of 0.8 per cent
-
•Wales saw the most significant monthly price fall with a decrease of 0.8 per cent.
Sales and repossessions during October 2015, the most up-to-date figures available, show that:
-
•the number of completed house sales in England & Wales decreased by 8 per cent to 79,960 compared with 86,452 in October 2014
-
•the number of properties sold in England and Wales for over £1 million fell by 2 per cent to 1,231 from 1,258 a year earlier
-
•repossessions in England and Wales decreased by 51 per cent to 431 compared with 888 in October 2014
-
•the region with the greatest fall in the number of repossession sales was London with a decrease of 71 per cent from October 2014.
HOUSE PRICE INDEX REPORT
Jan 2016
Next Full index is due to be released: 9.30am on 26th February 2016
Haslemere Branch
32 High Street
Haslemere
Surrey GU27 2HJ
t: 01428 656596
t: 01428 656597 (lettings)
Godalming Branch
47 High Street
Godalming
Surrey
GU7 1AU
t: 01483 478200
t: 01483 478199 (lettings)
Grayshott Branch
9 The Precinct
Headley Road
Grayshott
Hindhead
Surrey GU26 6LQ
t: 01428 604016
t: 01428 600003 (lettings)
Farnham Branch
28B Downing Street
Farnham
Surrey
GU9 7PD
t: 01252 715031
t: 01252 719513 (lettings)
Alton Branch
78 High Street
Alton
Hampshire
GU34 1EN
t: 01420 87379
t: 01420 87409 (lettings)
Jan 2016
WARREN POWELL-RICHARDS
Warren Powell-Richards Established in 2008 with offices in Alton, Farnham, Godalming, Grayshott and Haslemere, they are an independent estate and letting agent focusing on marketing properties on the Surrey, Hampshire and West Sussex borders.
With an impressive sales success record across all price ranges and areas of the market, including modest first-time-buyer homes, land acquisitions, new build, equestrian property and some of the most prestigious homes their area.
We are pleased to welcome Warren Powell-Richards as members of The Knightsbridge Office
The January data shows an annual price increase of 7.1% which takes the average property value in England and Wales to £191,812. Monthly house prices have risen by 2.5% since December 2015.
The regional data indicates that:
-
•London experienced the greatest increase in its average property value over the last 12 months with a movement of 13.9%
-
•Wales experienced the greatest monthly growth with an increase of 3.7%
-
•the North East saw the lowest annual price growth with an increase of 0.2%
-
•the North East also saw the most significant monthly price fall with a decrease of 1.6%
Sales and repossessions during November 2015, the most up-to-date figures available, show that:
-
•the number of completed house sales in England and Wales fell by 2% to 72,167 compared with 73,282 in in November 2014
-
•the number of properties sold in England and Wales for more than £1 million increased by 14% to 1,091 from 953 a year earlier
-
•repossessions in England and Wales fell by 54% to 346 compared with 753 in November 2014
-
•the region with the greatest fall in the number of repossession sales was the South West with a fall of 78% from November 2014
HOUSE PRICE INDEX REPORT
Feb 2016
Next Full index is due to be released: 9.30am on 26th March 2016
News
News
The February data shows an annual price increase of 6.1% which takes the average property value in England and Wales to £190,275.
Monthly house prices have fallen by 0.2% since January 2016.
The regional data indicates that:
-
•London experienced the greatest increase in its average property value over the last 12 months with a movement of 13.5%
-
•the North West experienced the greatest monthly growth with an increase of 1.8%
-
•the North East saw the only annual price fall with a movement of -3.2%
-
•the North East also saw the most significant monthly price fall with a decrease of 1.2%
Sales and repossessions during December 2015, the most up-to-date figures available, show that:
-
•the number of completed house sales in England and Wales fell by 6% to 73,326 compared with 78,208 in in December 2014
-
•the number of properties sold in England and Wales for more than £1 million increased by 2% to 1,077 from 1,052 a year earlier
-
•repossessions in England and Wales fell by 50% to 356 compared with 706 in December 2014
-
•the region with the greatest fall in the number of repossession sales was London with a fall of 67% from December 2014.
HOUSE PRICE INDEX REPORT
March 2016
Next Full index is due to be released: 9.30am on 28th April 2016
News
The March data shows an annual price increase of 6.7%, which takes the average property value in England and Wales to £189,901. Monthly house prices have fallen by 0.5% since February 2016.
The regional data indicates that:
-
•London experienced the greatest increase in its average property value over the last 12 months with a movement of 13.9%
-
•London and the East experienced the only monthly growth, each with an increase of 0.2%
-
•the North East saw the only annual price fall with a movement of -0.7%
-
•Yorkshire and The Humber saw the most significant monthly price fall with a decrease of 2.6%
Sales and repossessions during January 2016, the most up-to-date figures available, show that:
-
•the number of completed house sales in England and Wales fell by 5% to 54,254 compared with 56,937 in January 2015
-
•the number of properties sold in England and Wales for more than £1 million increased by 2% to 938 from 916 a year earlier
-
•repossessions in England and Wales fell by 51% to 322 compared with 657 in January 2015
-
•the region with the greatest fall in the number of repossession sales was London with a fall of 72% from January 2015
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 14th June 2016
News
April 2016
Headline statistics
For April 2016:
-
•the average price of a property in the UK was £209,054
-
•the annual price change for a property in the UK was 8.2%
-
•the monthly price change for a property in the UK was 0.6%
-
•the monthly index figure for the UK was 109.6 (January 2015 = 100)
Economic statement
Continuing price pressures in the housing market have coincided with strong demand indicators relative to supply indicators in recent months. However following higher rates of Stamp Duty Land Tax and Land and Buildings Transaction Tax on additional properties in England, Wales, Northern Ireland and Scotland, there are indications of a cooling in the market in April 2016.
The timing of the stamp duty tax seems to have cooled demand on the month, but this follows a period of increases in activity. Following six months of consecutive increases, the volume of lending approvals for house purchases fell by 5.8% in April 2016 compared to the previous month, to its lowest level since May 2015. The number of UK home sales continued to grow in the three months to April 2016 (February to April): rising by 8.3% relative to the preceding three months (November to January), although sales fell by 45.2% in April 2016 compared with March 2016. Data from the Royal Institution of Chartered Surveyors (RICS) also suggests that in April 2016, buyer demand contracted for the first time following continuous growth since March 2015.
Indicators of supply in the housing market were more mixed. The Bank of England’s Agents’ Summary of Business Conditions for May 2016 reported a shortage of secondary market housing supply, while RICS reported that general supply (new instructions to sell) continued to fall in April. However, the latest ONS Output in the Construction Industry release indicated that new-build housing output increased by 3.4% in the previous three months (January to March) compared to the same period a year earlier.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 19th July 2016
June 2016
Headline statistics
For May 2016:
-
•the average price of a property in the UK was £211,230
-
•the annual price change for a property in the UK was 8.1%
-
•the monthly price change for a property in the UK was 1.1%
-
•the monthly index figure for the UK was 110.8 (January 2015 = 100)
Economic statement
Continuing price pressures in the housing market have coincided with strong demand indicators relative to supply indicators in recent months. However following higher rates of Stamp Duty Land Tax and Land and Buildings Transaction Tax on additional properties in England, Wales, Northern Ireland and Scotland in April 2016, there are indications that market activity in May 2016 has been more subdued compared to the period before the changes.
The timing of the stamp duty tax seems to have cooled demand in recent months, but this follows an extended period of increases in activity. Following a 6.2% fall on the month in April 2016, the volume of lending approvals for house purchases recovered slightly, by 1.3% in May. However, approvals on a monthly basis are still below the levels seen in the 10 months before the stamp duty changes. Following a strong increase in sales in the month prior to the stamp duty changes (March 2016), UK home sales fell by 42.3% in April 2016 to their lowest level since May 2013; these have only recovered slightly in May 2016. Data from the Royal Institution of Chartered Surveyors (RICS) also suggests that buyer demand fell for the second consecutive month in May 2016, with the rate of contraction in demand the fastest since mid-2008. New buyer enquiries declined across most parts of the UK with regional variations in conditions.
Indicators of supply in the housing market were more mixed. The Bank of England’s Agents’ Summary of Business Conditions for May 2016 reported a shortage of newly built and secondary market housing supply. RICS also reports that general supply, as measured by new instructions to sell, experienced a broad based fall in May 2016.
In contrast, the latest ONS Output in the Construction Industry release indicated that new-build housing output increased by 3.3% in the previous three months (February to April 2016) compared to the same period a year earlier. However, there may be a lag before this new build supply affects market conditions more generally.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 16th August 2016
News
July 2016
Headline statistics
For June 2016:
-
•the average price of a property in the UK was £213,927
-
•the annual price change for a property in the UK was 8.7%
-
•the monthly price change for a property in the UK was 1.0%
-
•the monthly index figure for the UK was 112.2 (January 2015 = 100)
2.
Economic statement
Continuing price pressures in the housing market reflect stronger demand relative to supply in the housing market. However, there are also indications that the housing market pressure softened recently, with falls in both demand and supply.
Several indicators point toward weakening housing demand in recent months. The volume of lending approvals for house purchases continued to fall in June 2016 - by 2.9% compared with the previous month. However, monthly approvals are still below levels seen in the 10 months prior to stamp duty changes in April 2016. Following a strong increase in sales in March, UK home sales fell by 55.4% in April 2016, recovering slightly in May and June 2016. Data from the Royal Institution of Chartered Surveyors (RICS) suggest that buyer demand fell for a third consecutive month, reaching its lowest level since mid-2008. New buyer enquiries declined across most parts of the UK, with the more southern parts of England seeing the sharpest contraction in demand.
There is an indication that housing market activity has softened in recent months. RICS reported that general supply, as measured by new instructions to sell, continued to fall in June 2016 in all areas except for Northern Ireland. In contrast, the latest ONS Output in the Construction Industry release indicated that new-build housing output increased by 1.8% in the previous three months (March to May 2016) compared with the same period a year earlier. These indications of weakening demand and supply are reflected in other institutions’ measures of general activity in the housing market. The Bank of England Agents Summary for Q2 2016 reported that housing market activity was more subdued in April and May following an increase in housing transactions in January to March, while RICS reported a third consecutive monthly fall in overall housing market activity in June 2016.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 13th Sept 2016
News
Aug 2016
Headline statistics
For July 2016:
-
•the average price of a property in the UK was £216,750
-
•the annual price change for a property in the UK was 8.3%
-
•the monthly price change for a property in the UK was 0.4%
-
•the monthly index figure for the UK was 113.7 (January 2015 = 100)
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Economic statement
House price pressures continued to grow in July, reflecting the strength of demand relative to supply in the housing market. However, there were indications that some of the heat had been taken out of the market, with several indicators pointing towards weaker housing demand and supply in recent months.
On the demand side, the volume of lending approvals for house purchases fell by 5.1% in July 2016 compared to the previous month, continuing a downward trend since the beginning of the year. As such, monthly approvals remain below the levels seen in the 10 months prior to stamp duty changes in April 2016. UK home sales fell by 0.9% in July 2016 compared to the previous month, which means that home sales on a monthly basis remain below levels seen in 2014 and 2015 and before the stamp duty changes in early 2016.). Furthermore, the Royal Institution of Chartered Surveyors (RICS) market survey for July reported a fourth consecutive month of falling new buyer enquiries, affecting all regions of the UK.
In terms of housing supply, RICS report that new sales listings on the market has fallen at the fastest monthly rate on record for each of the last three months. The latest ONS Output in the Construction Industry publication (which only captures a very short time period after the referendum) reported a mild slowdown, with new-build housing output falling by 0.4% in June compared to May. However, new-build housing output remained 3.5% higher than in June 2015. The Bank of England Agents’ Summary(August update) reported a weakening in the outlook for housing market activity, but it was unclear whether this was due to uncertainty concerning the referendum or seasonal factors and reduced demand from buy-to-let landlords.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 18th Oct 2016
News
Sept 2016
Headline statistics
For August 2016:
-
•the average price of a property in the UK was £218,964
-
•the annual price change for a property in the UK was 8.4%
-
•the monthly price change for a property in the UK was 1.3%
-
•the monthly index figure for the UK was 114.8 (January 2015 = 100)
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Economic statement
Housing market indicators for August suggested a period of relative stability during the month. House prices grew by 8.4% in the year to August, up slightly from 8.0% in July. Although demand and supply was broadly unchanged compared to the previous month, the indicators remained somewhat weaker than in 2015 and early 2016.
In terms of housing demand, the volume of lending approvals for house purchases fell slightly in August compared to July, remaining at levels seen in early 2015. Home sales in the UK stayed stable between July and August but remain below levels seen in 2014, 2015 and before the stamp duty changes in early 2016. The Royal Institution of Chartered Surveyors (RICS) market survey for August reported falling new buyer enquiries over the past three months, with demand from buy-to-let investors falling more sharply than demand from first time buyers and existing owners.
On the supply side, RICS report that new sales listings remain low, falling slightly in August compared to July. The latest ONS Output in the Construction Industry reported a 0.8% monthly fall in new-build housing output in July, although output remains6.2% higher than in July 2015. The Bank of England Agents’ Summary reported a slowdown in activity in London and surrounding areas, but unchanged activity elsewhere in the UK.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 18th Nov 2016
News
Oct 2016
News
COUNTRY LIVING FAIR
Wed 9th Nov 10am-5pm
Thurs 10th Nov 10am-8.30pm
Thurs Late Night 5.30pm-8.30pm
Fri 11th Nov 10am-6pm
Sat 12th Nov 9.30am-6pm
Sun 13th Nov 10am-3pm
Ticket Prices: Adult advanced standard ticket - £14.00 or 12.50 for subscribers (or £18 otd)
Events
Nov 2016
Headline statistics
For September 2016:
-
•the average price of a property in the UK was £217,888
-
•the annual price change for a property in the UK was 7.7%
-
•the monthly price change for a property in the UK was 0.2%
-
•the monthly index figure for the UK was 114.3 (January 2015 = 100)
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Economic statement
Housing market indicators for September suggested a period of relative stability during the month. House prices grew by 7.7% in the year to September, unchanged from August. While there is some evidence of a slight recovery in demand on the month, both demand and supply indicators remained somewhat weaker than in 2015 and early 2016. There is evidence of regional variation with the Bank of England Agents’ Summary saying there was a marked slowdown in activity in London and surrounding areas, but activity has fared better elsewhere in the UK.
In terms of housing demand, the Royal Institution of Chartered Surveyors(RICS) market survey for September reported a modest increase in new buyer enquiries – the first increase since February. The volume of lending approvals for house purchases also rose by 3.2% in September compared to August. However, this follows 3 months of consecutive falls and the volume of lending approvals remains around the same level as early 2015.This is reflected in data for home sales in the UK which fell by 4.3% between August and September, with levels remaining lower than in 2014, 2015 and before the stamp duty changes in early 2016.
On the supply side, RICS also reported that new sales listings fell again in September compared to August, continuing the trend over the past 7 months. The latest ONS Output in the Construction Industry reported a 1.3% monthly fall in new-build housing output in August, although new-build housing output remains 8.0% higher compared with August 2015.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released: 9.30am on 13th Dec 2016
News
Nov 2016
Headline statistics
For October 2016:
-
•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 price change for a property in the UK was 0.1%
-
•the monthly index figure for the UK was 113.6 (January 2015 = 100)
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Economic statement
Housing market indicators for October suggested a period of modest increasing demand and steady growth in price levels. House prices grew by 6.9% in the year to October, 0.1 percentage point lower than September. According to the Bank of England’s Agents’ summary of business conditions, for September and October 2016, there is evidence of recovery in the housing market since the weakness seen in the immediate aftermath of the referendum. The extent of the pickup was variable across regions and price brackets.
The variation across regions can be seen within the house price index on a regional level. For example, 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 7.7% annual growth over the same period.
In terms of housing demand, the Royal Institution of Chartered Surveyors (RICS) market survey for October reported a modest increase in new buyer enquiries. According to the Bank of England the volume of lending approvals for house purchase increased by 6.2% from September to October 2016, although this is still 3.3% lower than October 2015. Home sales in the UK increased by 1.0% between September and October 2016 according to UK Property Transaction statistics. Compared with October 2015 the level of home sales in October 2016 is 8.0% lower.
On the supply side RICS reported a fall in new sales listings in October 2016 compared to September 2016.ONS Construction output reported no change in total new housing comparing the second and third quarter, but total new housing is 8.7% higher than the third quarter of 2015.
HOUSE PRICE INDEX REPORT
Next Full index is due to be released:
Jan 2017
News
Nov 2016
News
