The annual price change for a property in the UK was 4.9 per cent (£223,257 in June 2017), according to the latest House Price Index Summary released by the HM Land Registry.
While the annual growth rate has slowed since mid-2016 it has remained broadly around 5 per cent during 2017. However, this growth rate still indicates an appreciation in the capital values of residential assets in the UK.
The main contribution to the increase in UK house prices came from England, where house prices increased by 5.2 per cent over the year to June 2017. Wales saw house prices increase by 3.6 per cent over the last 12 months.
In terms of housing demand, the Royal Institution of Chartered Surveyors’ (RICS) residential market survey for June 2017 reported that price expectations are marginally positive while new buyer enquiries decreased over the month.
The UK Property Transaction statistics showed that in June 2017 the number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above increased by 1 per cent compared to June 2016.
The fundamentals of the UK property market are strong because of which the ROI to investors has been consistent. If you are keen on investing in UK property, contact London office of Strawberry Star for options.
UK House prices grew by 4.9% in the year to June 2017, 0.1 percentage points lower than in the year to May 2017. While the annual growth rate has slowed since mid-2016 it has remained broadly around 5% during 2017.