This week the Land Registry released their latest house price index for July 2016, detailing a 0.5% increase in property values between June and July, with an annual increase of 9.1%, with just two regions of the UK showing a decline.
Unlike other indices that base their figures on mortgage data, the Land Registry provide a much more concrete look at the UK property market and the latest index provides the first look at the market post-Brexit.
As always the eMoov CEO and property expert, Russell Quirk, was on hand to comment on what the figures meant for UK homeowners.
Another index and another positive outlook where the post-Brexit property market is concerned.
An annual increase of 9.1% and a marginal increase 0.5% since June shows that there has been no immediate impact on the market in England since Britain’s decision to leave the EU.
Although this isn’t news as such, this data from the Land Registry acts as a more concrete confirmation compared to the likes of Halifax and Nationwide who base their figures on mortgage data.
There are small signs of the seasonal lull usually felt during the summer months across both the South West and West Midlands, with house prices down -0.3% and -0.8% respectively, but elsewhere across England a pretty healthy outlook all round with continued growth both annually and from June to July.Russell Quirk