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House Price Index May 15

14 July 2015 On 14 Jul 15, the Office for National Statistics (ONS) released their House Price I...

14 July 2015

On 14 Jul 15, the Office for National Statistics (ONS) released their House Price Index for May 2015.

The headline figures concerning house price changes in the UK are as follows:

  • UK house prices up 5.7% in the 12 months to May 15, up from 5.5% to April 15.
  • England House prices up by 5.8%.
  • Prices in the south-east up by 8.2%.
  • Seasonally adjusted increase of 0.9% between April and May 2015.

Only 14 properties have been reported as sold by the Land Registry for RG14 in May 2015, at an average of £271,139.  This is an increase of only 1.8% on the average for May 2014 when 75 properties were sold.

It looks like the pattern of very low sales volumes is continuing - in Q1 2015 there were 82 sales in RG14, compared to 182 for the same period in 2014, and the only time Q1 sales were lower was in 2009.

Also out today the Council of Mortgage Lenders (CML) released their report for May 15.  Key points are:

  • £3.4bn in loans to 22,700 first time buyers, a 3% increase in value and a 1% increase in number of loans from April 15.  A 16% decrease in number and 13% decrease in value from May 14.
  • 17,500 loans amounting to £2.5bn to BTL investors, up 1% in number, no change in value from Apr 15.  12% increase in number, and a 19% increase in value on May 14.
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