August’s UK House Price Index shows a rise of 0.2% since July 2018, bringing the annual price rise figure to 3.2% and the average property price to £232,79.
In England, the August data shows house prices have risen on average by 0.2% since July 2018. The annual price rise of 2.9% takes the average property value to £249,748.
Regionally, the East Midlands experienced the greatest monthly price rise, up by 1.5%, while the East of England saw the most significant monthly price fall, down by 1.1%.
House prices in London fell by 0.2% in the year to August 2018
The London HPI figures show an average house prices fall of 0.5% since July 2018. An annual price fall of 0.2% takes the average property value to £486,304.
Wales shows, on average, house price rise of 1.9% since July 2018. An annual price rise of 6.2% takes the average property value to £162,374.
Overall, UK house prices rose by 3.2% in the year to August 2018, down from 3.4% in the year to July 2018.
The UK Property Transaction Statistics for August 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 99,120. This is 2.6% lower compared to a year ago. Between July and August 2018, transactions increased by 1.3%.
House prices grew fastest in the East Midlands region increasing by 6.5% in the year to August 2018, followed by the West Midlands region which increased by 5.1% over the year. House prices in London fell by 0.2% in the year to August 2018.
For the full UK-HPI data, click HERE.
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