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House price growth rebounds to 5.4%: ONS

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Average house prices increased by 5.4% in the year to September 2017, up from 4.8% in August, according to the latest ONS and Land Registry house price index. This brought the average UK house price to £226,000 - £11,000 higher than in September 2016 and £1,000 higher than in August.

The main contribution to the increase in UK house prices came from England, where house prices increased by 5.7% over the year to September 2017, with the average price in England now £244,000. Wales saw house prices increase by 5.3% over the last 12 months to stand at £153,000. In Scotland, the average price increased by 3.1% over the year to stand at £145,000. The average price in Northern Ireland currently stands at £132,000, an increase of 6.0% over the year to Q3 2017. The North West showed the highest annual growth, with prices increasing by 7.3% in the year to September 2017. This was followed by the South West (6.6%) and the East Midlands (6.4%). The lowest annual growth was in London, where prices increased by 2.5% over the year.

Posted by MMB Finance Swindon and Gloucester on 14 November 2017