May 2017 House Price Index

May 2017 House Price Index

HM Land Registry has released the May 2017 House Price Index for England, Scotland, Wales and Northern Ireland.

The Index shows that property prices have risen by 0.5% compared to April, and risen by 4.7% compared to May 2016.

The data shows:

  • in England, an annual price increase of 5% which takes the average property value to £237,662. Monthly house prices have risen by 0.5% since April 2017
  • in London, an annual price increase of 3% which takes the average property value to £481,345. Monthly house prices have fallen by 0.3% since April 2017

 

East Anglia up and the South East down

The regional data indicates that:

  • The East of England experienced the greatest increase in average property price over the last 12 months, with a movement of 7.5%
  • London and the South East saw the most significant monthly price falls of 0.3% each

Central Bedfordshire

In Central Bedfordshire property prices have risen month by month and year-to-year.

The average house price in Central Bedfordshire is now £304,632. This compares to the national average of £220,713, and £481,345 for London.

House sales

Sales during March 2017, the most up-to-date HM Land Registry figures available, show that:

  • the number of completed house sales in England fell by 44.3% to 62,342 compared with 111,901 in March 2016
  • the number of completed house sales in London fell by 57.5% to 6,941 compared with 16,322 in March 2016
  • there were 743 repossession sales in England in March 2017
  • the lowest number of repossession sales in England and Wales in March 2017 was in the East of England