10:31 AM, 22nd October 2020, About 11 months ago
The office for National Statistics has releasedHouse Price Index summary for August 2020 showing the average price of a property in the UK was now £239,196 reflecting an annual increase of 2.5% and a monthly increase for August of 0.7%
At the individual country level, the largest annual house price growth in the year to August 2020 was recorded in England, where house prices increased by 2.8% with Wales seeing an increase of 2.7% and Scotland 0.6% in the year to August 2020. Northern Ireland saw house prices increase by 3.0% over the year to Quarter 2 (April to June) 2020.
The highest annual growth within England was for the East Midlands where average house prices grew by 3.6%. The lowest annual growth was in the North East, where prices increased by 0.2% in the year to August 2020.
The Bank of England’s Money and Credit August 2020 release reported that mortgage approvals for house purchases (an indicator of future lending) increased sharply in August to 84,700, the highest since October 2007.
|Property type||August 2020||August 2019||Difference|
|Flat or maisonette||£203,708||£204,645||-0.5%|
|Country and government office region||Price||Monthly change||Annual change|
|Northern Ireland (Quarter 2 – 2020)||£141,131||0.3%||3.0%|
|East of England||£296,411||0.8%||2.0%|
|Yorkshire and The Humber||£170,025||0.1%||2.7%|
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