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London house prices remain low below UK average

London property prices

UK house prices grew by 4.5% in the year to October 2017, experiencing a 0.3 percentage point decrease from the previous month, according to HM Land Registry Data

The average price of a property in the UK was £223,807,

The slowest annual growth was in London at 2.1%, down from 2.9% in September 2017. This is the 11th consecutive month where the growth in London house prices has remained below the UK average, thanks to Brexit.

Average price by country and government office region in Oct 17

Price, monthly change and annual change by country and government office region

Country and government office region Price Monthly change Annual change
England £240,860 -0.6% 4.7%
Northern Ireland (Quarter 3 – 2017) £132,169 3.0% 6.0%
Scotland £143,544 -0.7% 2.8%
Wales £153,316 0.8% 4.5%
East Midlands £184,544 0.2% 7.0%
East of England £289,168 0.1% 6.1%
London £481,102 -0.9% 2.1%
North East £127,224 -0.1% 2.4%
North West £154,056 -2.0% 3.9%
South East £322,311 -0.5% 4.6%
South West £251,376 0.2% 6.7%
West Midlands Region £186,351 -1.1% 5.2%
Yorkshire and The Humber £155,281 -1.1% 3.3%

Average monthly price by property type

Property type October 2017 October 2016 Difference
Detached £340,996 £323,441 5.4%
Semi-detached £211,014 £200,703 5.1%
Terraced £179,327 £172,619 3.9%
Flat or maisonette £201,527 £194,540 3.6%
All £223,807 £214,107 4.5%
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