Recent figures have revealed a growth of 5.1% for the average UK property price in the year ending in November 2017, falling by 0.3% on the previous month.
In statistics published by HM Land Registry, the average price of a property in November last year was £226,071, with a monthly price change of 0.1%. In terms of percentage growth, November saw a fall of 0.3% compared to October 2017.
November also saw an increase in the number of seasonally adjusted transactions for properties value at £40,000 or greater. According to the UK Property Transaction Statistics, the percentage volume grew by 7.1% year on year, growing by 0.6% on a monthly basis.
Regionally speaking, the West Midland saw the greatest yearly price growth at 7.2%, with the East Midlands following this at 6.4%. The slowest growth during the 12 month period was observed in London and the North East, at an increase of 2.3%.
Looking at the housing stock, estate agents reported that levels remained relatively unchanged, whilst RICS stated that net balance for new instructions continued to be in negative territory for the 23rd month in a row.
The full dataset can be found here.
