The latest house price index (HPI) shows that UK house prices rose by 2.9% between July and August 2021. For the year, this means prices have increased by an average of 10.6% to create an average house price of £264,244.
In England the August data shows, on average, house prices have risen by 3.2% since July 2021. The annual price rise of 9.8% takes the average property value to £280,921.
The regional data for England indicates that:
- London experienced the greatest monthly rise with a movement of 5.6%
- Yorkshire and the Humber saw the lowest monthly price growth, at 1.5%
- the North East experienced the greatest annual price rise, up by 13.3%
- London saw the lowest annual price growth, with a rise of 7.5%
In Wales, house prices rose by 2.8% between July and August 2021, while an annual price rise of 12.5% takes the average property value to £194,575.
UK house prices increased 10.6% in the year to August 2021, up from 8.5% in July 2021. On a non-seasonally adjusted basis, average house prices in the UK increased by 2.9% between July and August 2021, compared with an increase of 1% during the same period a year earlier (July and August 2020).
The UK Property Transactions Statistics showed that in August 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 98,300. This is 20.9% higher than a year ago. Between July and August 2021, UK transactions increased by 32.0% on a seasonally adjusted basis, following a record level of transaction numbers in June 2021, and the subsequent reduction which followed in July.
House price growth was strongest in the North East where prices increased by 13.3% in the year to August 2021. The lowest annual growth was in London, where prices increased by 7.5% in the year to August 2021.
