What Happened to House Prices in August 2016?
The average house price in the UK grew by 8.4% in a year to August inthe latest figures produced by the Office of National Statistics. Strong growth in the housing market has been seen since the end of 2013. The average price in the UK in August was £219,000, an increase of £17,000 since the same period last year and an increase of £3000 in a month.
The areas of London, the South and the South East are fuelling the natioanl average price increase. The average increase across England as a whole was 9.2% with an average sold price of £236,000. In Wales the increase was a tad more realistic with a 2.7% uplift over the year and average price of £145,000. In Scotland the increase shown was 4.3% and average prices were the same as Wales at £145,000. Northern Ireland average prices stood at£123,000.00
The North East of England has the lowest average price at £127,000 whereas in london this price stands at £489,000. The South East of England is £318,000 and the East of England is £277,000.