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HPI shows strong annual price growth

The UK House Price Index for November 2016 revealed an annual price rise of 6.7%, taking the overall average property value in the UK to £217,928. Monthly house prices rose by 1.1% on October 2016.

The November data found that England saw the largest annual price increase of any of the home nations, up by 7.2%. The average property price in England (as of November 2016) was £234,278.

Wales, meanwhile, witnessed an annual price rise of 4.1%, taking its average property value (as of November 2016) to £146,742. Monthly prices, however, fell by 0.2% between October 2016 and November 2016.

London, unsurprisingly, saw the biggest annual price increase of any region (8.1%). The average property value in the capital in November 2016 was £481,648, far above anywhere else in the UK.  

The House Price Index also threw up some interesting regional data, showing that the East of England witnessed the largest rise in its average property price in 2016 (up by 10.5%). By contrast, the North East experienced the lowest annual price growth in the UK, with a rise of 3.2%.  
Detached homes continue to command the highest house prices across the country, closely followed by semi-detached properties. 


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