The Land Registry have released their latest house price index detailing house prices across the nation and how they have changed between June and July of 2016, as well as over the last year.

You can see the eMoov CEO’s comment on the topline stats here. Or if you want to know how the market has performed in the rest of the UK, you can see the latest stats for Scotland here or Wales here. Or see an in-depth look at England below.

Regions

Despite London’s tendency to drive the property market across England, the latest data by the Land Registry shows that in terms of percentage value increase, the capital isn’t leading the way.

Between June and July price across London increased by 3%, however, The North East has seen a value increase of 4% during the same time period. Although this doesn’t translate to the same monetary value at £5,280 to London’s £12,513, it will be welcoming news for North East homeowners where the market has been struggling over the past year.

 

Despite London’s tendency to drive the property market across England, the latest data by the Land Registry shows that in terms of percentage value increase, the capital isn’t leading the way.

Between June and July price across London increased by 3%, however, The North East has seen a value increase of 4% during the same time period. Although this doesn’t translate to the same monetary value at £5,280 to London’s £12,513, it will be welcoming news for North East homeowners where the market has been struggling over the past year.

 

Year on year it is the East of England that comes out on top, with a value increase of 13%, 1% higher than the capital. Again the difference in the average property price means this only translates to an increase of £31,989 to London’s £53,073, but will be well received for those outside of the London bubble.

Elsewhere around the country, the honours are even with each other region seeing just a 1% increase between June and July. However, it’s not the best news for Yorkshire homeowners, with property in Yorkshire and Humber seeing the lowest yearly increase at just 5%.

Counties

The latest data shows that across England’s 48 counties the current average house price sits at £232,885 up 2% between June and July and 9% over the last year.

Over the last year homeowners in Hertfordshire have enjoyed the largest increase in property values, up 18% with the average house price now £394,894. Although nowhere across England has seen a decrease in values over the last year, homeowners in Cornwall have the least to be happy about. Property across Cornwall has only increased by 2% between July of last year and now.

Rather predictably it is the City of London that has seen the largest percentage increase between June and July of this year, with values up 6%.

Outside of the capital County Durham has enjoyed the second largest increase (5%) of all other counties across England. This will be very welcome news for homeowners across Durham as the last few years has seen the local market suffer from extremely low demand, with prices falling as a result.

The Isle of Wight has seen no growth in property prices over the last month percentage wise, with the latest Land Reg data showing an increase of just £16. This is also the case in Herefordshire where the average house price has increased by just £426, again resulting in a 0% movement.

London

Despite London trailing both monthly and year on year to the North East and East of England, Property value increase across the capital remains strong up 3% from June to July and 12% over the last year.

Since the benefit of the Olympic legacy and extensive regeneration across the borough, Newnham has gone from strength to strength where property prices are concerned outpacing the capital as a whole. In the last year prices in the borough have increased by 21% with the average property price now at £359,231, climbing a further £3,281 over the last month.

 

Despite London trailing both monthly and year on year to the North East and East of England, Property value increase across the capital remains strong up 3% from June to July and 12% over the last year.

Since the benefit of the Olympic legacy and extensive regeneration across the borough, Newnham has gone from strength to strength where property prices are concerned outpacing the capital as a whole. In the last year prices in the borough have increased by 21% with the average property price now at £359,231, climbing a further £3,281 over the last month.

 

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