Emoov Online Estate Agency Summarizes October 2017 Land Registry House Price Index

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eMoov explains the latest Land Registry Data reports; some sectors showing increases and decreases, but overall stable.

The latest index has been released by the Land Registry for August 2017 showing a +0.5% price growth increase month on month and a +5% annual jump. These increases represent an optimistic turn in the UK’s property market as these figures are the most reliable source across the industry because they are based on sale completion, not asking price.

Buyer demand over properties for sale continues to remain high, but homeowners are treading water lightly as the market uncertainty. However, transactions are up by +6.6% this year from the same time last year and only dropped slightly (0.5%) over the summer months, which is no surprise.

By Region

All regions across the UK have enjoyed an annual price growth - the most notable increase was +6.4% in the North West, South West, East of England and the East Midlands. In addition, nine of the thirteen regions enjoyed monthly price growth from July to August. The largest increase in the UK was seen in Wellingborough (+15.3%), Rutland has the largest increase of all English counties (+10.1%), Gwynedd has the largest increase in Wales (+15.3%) and the Shetland Islands have the largest Scottish increase (+13.8%).

London

The capital has suffered the slowest growth of all the UK’s regions at +2.6% year on year, and saw a monthly decrease of -1% along with Wales (-1%) and Scotland (0.7%). However, Camden and Hackney enjoyed the largest rise in price growth at +13% and +11.7%, respectively, while the Royal Borough of Kensington and Chelsea, the City of Westminster and the City of London all dropped in price growth.

Founder and CEO of eMoov.co.uk, Russell Quirk, commented:

“The latest numbers are optimistic as the UK’s property price growth is once again on the rise following uncertain conditions after Brexit and a slowdown in foreign investment.

The market is showing strong signs of recovery across the nation and demand remains high in many areas, despite London’s slowdown.”

Since 2009 over 15,000 customers have trusted eMoov with their home sale. eMoov has built empowering technology to assist people in towns and cities all across the UK. Their award winning team of online estate agents are vital to a successful home sale. To learn more about the latest property and home value trends or to learn about eMoov's online estate agent services visit https://www.eMoov.co.uk today.

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Damon Burton
eMoov
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