House prices across England and Wales grew an average of 0.8% in July to stand at £162,900, the Land Registry has reported. Meanwhile, Nationwide reported today that house prices in August shot up by 1.3%. Although the uplift sounds sizeable, it translates into a difference between July's average price of £164,389 and August's £164,729.
The Land Registry data means that house prices are now just 0.3% ahead of where they were in July last year.
But the statistics were boosted by a monthly price rise of 2.7% in London, bringing annual house price inflation in the capital to 6.5%. The average house price in London now stands at £367,785.
House prices also went up during July in Wales (by 2.3%), East Midlands (1.2%), South-East and East (both 0.4%).
By contrast, house prices went down during the month in Yorkshire & the Humber (by 0.1%), the South-West (0.6%), North-West (1.7%) and North-East (2.1%).
The Land Registry’s latest data also shows a rise in housing transactions. From February to May, there was an average of 49,343 sales a month, up from 46,531 for the same period last year.
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