Klein Hamilton News

UK house prices rise by 8.2%

Written By - Sam Haynes - June 15,2016

House prices rose across the UK by 8.2% in the last year, with London prices climbing 14.5%, according to the new UK House Price Index.

Prices climbed 8.2% in the year to April, taking the average UK property value to £209,054. The North East saw the lowest annual price growth with an increase of 0.1%.

Between April and March, prices fell in the North East, Wales and the South West, slipping 0.9%, 1.9% and 2.8%.

The new index comprises figures collated by the Office for National Statistics from data supplied by Land Registry, Register of Scotland, Land and Property Services, Northern Ireland and the Valuation Office Agency.

The index will be published monthly, excluding figures for Northern Ireland which are published quarterly.

Regional variations

The average property value in the capital is now £470,025, while in the North East of England it is £121,719.

In Wales the annual price increase of 1.7% takes the average property value to £139,385. In Scotland, prices climbed 3.3% to reach £138,445.

During April itself, the North West of England showed the highest increase in prices, climbing 2.3% since March, to take the average price in the region to £145,149.

In London, prices rose by 0.6% over the month.

Property types

Terraced homes showed the largest annual increase in values, climbing 10% to reach an average price of £183,666.

Semi-detached homes climbed 9.7% to £209,075, while the price of flats and maisonettes rose 9.3% to reach £210,281.

Detached homes climbed 7.3% to a new average price of £332,968.