Average prices in England and Wales inch up

Michael Lloyd

January 15, 2018

Average prices in England and Wales rose marginally in December, LSL Property Services House Price Index found.

The annual growth rate for England and Wales fell for the seventh month in a row, to just 0.2% – down from 0.9% in November and the lowest annual increase since March 2012.

Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “The end of 2017 was relatively quiet for house movers, particularly in the capital.

“Outside of London, however, the majority of regions still reported growth over the month, demonstrating that there is still some strength going into the New Year.”

London saw annual prices fall, down 4.1% from last year and 2.6% from the month before.

The average price of a home in England & Wales finished the year up £553 year-on-year, but £5,200 under the peak in March.

At £300,846, prices remain above the £300,000 mark, and December marked the second month in a row that prices rose after several months of falls.

The estimated number of transactions for 2017, at 874,385, is down 5.3% on last year, and the lowest since 2013.

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