UK House Price Index maintains consistent trend for August

The UK House Price Index for August displays a consistent trend with what has been experienced over the previous few months, with a marginal increase in housing value across the nation as a whole but with a slight decline in the capital.

During the month of August, house prices in the UK in general experienced a 0.8 per cent rise from the July figures, an increase not drastically different from the 0.7 per cent monthly increase in June and 0.5 per cent monthly increase in July, while the annual difference in house pricing witnessed a rise of 1.3 per cent, taking the average value to £234,853.

In England these figures were much the same, with a corresponding rise of 0.8 per cent in property value while the annual increase in England measured at a slightly smaller proportion of 1.1 per cent, taking the value of the average English home to a sum of £251,233.

By region the trends have even managed to remain much the same as the previous months, with the North East having experienced the most significant monthly rise of 3.1 per cent while it was, again, London which suffered the decline in value of 1.3 per cent.

Parallels can likewise be drawn with the annual figures for the regions of England, with the North East having experienced the greatest annual rise of 3.3 per cent and with London having experienced the most substantial fall of 1.4 per cent.

Wales also experienced an increase that is similar to that which it has already been experienced in recent months, with a 2.3 per cent increase in housing value for August, when compared with the figure for July, and with a 4.5 per cent annual increase which takes the average household value in Wales to £168,318.

The greatest number of repossession sales in England was experienced, yet again, in the North West in June whereas the lowest number took place in the East of England, with Wales owning a relatively low repossession sale figure of just 38.

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