House price increase across the UK during 2015

Thursday 10 September 2015  / Ruth Montia

property-price-rise

LSL Property Services have released information indicating that the 10 regions across England and Wales have seen an average 4.1% increase in house prices over the last year.

This increase means that the average property price in the UK is now around £282,816.

Conversely, there is bad news attached to this announcement as transactions have fallen behind the levels of 2013 for the first time this year following a 14% drop in the August.

In the three months leading up to July of this year, property sales have fallen 3% year-on-year. The North of England is the only region where activity has increased over that period, with sales up 3% during the period May to July 2015 compared to the same period in 2014.

The biggest drop in activity has been in East Anglia, with total property sales down 9% and sales of flats 15% lower year-on-year from May to July. This region has experienced the largest house price increase out of any region, at 5.9% in July this year.

A LSL spokesman says this contrast suggests demand is not the problem, but supply is.