20 Aug 15
On 18 Aug 15, the Office for National Statistics (ONS) released their House Price Index for June 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 June 15, up from 5.6% to May 15.
- England House prices up by 6.1%.Prices in the south-east up by 7.7%.
- Seasonally adjusted increase of 0.4% between May and June 2015.
The Land Registry reports 25 sales in June (to the 26th at time of writing) for an average of £412,941. The average has been distorted by a small number of high value sales. The median is £327,500, a 26% increase on June 2014.
In order to get more useful numbers, we can look at Quarterly sales. Q2 2015 saw 103 sales in RG14 at an average of £321,594. This is an increase of 24.6% against Q2 2014, and an increase of 12% on Q1 2015.
Also out this week the Council of Mortgage Lenders (CML) released their report for Jun 15. Key points are:
- £4.2bn in loans to 28,300 first time buyers in June, up 22% in value and 23.5% in number on May, no change on June 14.
- £3.4bn on 22,100 BTL loans in June, up 25.9% in value and 22.8% in number on May. Up 38.1% in number and 54.5% in value on June 14.