The latest data and analysis from ONS/Land Registry has revealed that average house prices in the UK have increased by 5.1% in the year to July 2017.
The annual growth rate has slowed since mid-2016 but has remained broadly around 5% during 2017.
According to the UK HPI, the average UK house price was £226,000 in July 2017. This is £11,000 higher than in July 2016 and £2,000 higher than last month.
The main contribution to the increase in UK house prices came from England, where house prices increased by 5.4% over the year to July 2017, with the average price in England now £243,000. Wales saw house prices increase by 3.1% over the last 12 months to stand at £151,000. In Scotland, the average price increased by 4.8% over the year to stand at £149,000. The average price in Northern Ireland currently stands at £129,000, an increase of 4.4% over the year to Quarter 2 (Apr to Jun) 2017.
