UK’S BIGGEST HOUSE PRICE RISE
South Bucks defying predictions of a post-Brexit property slump
BREXIT doesn’t appear to have put much of a dampener on house prices in South Bucks, as they rocketed by more than a fifth in a year.
The average home cost £636,215 at the end of July, up 22.7% in a year, one of the biggest rises in Britain.
This is also much faster growth than in June, when prices were rising at 14.4% year-on-year, and the average price was £587,645.
The average UK house price was £217,000 in July 2016. This is £17,000 higher than in July 2015 and £1,000 higher than last month, according to figures from the Office for National Statistics.
However, the speed of house price growth slowed in July, from 9.7% in the year to June to 8.3% in the year to July.
The main contribution to the increase in UK house prices came from England, where house prices increased by 9.1% over the year to July 2016, with the average price in England now £233,000.
Wales saw house prices increase by 4.0% over the last 12 months to stand at £145,000. In Scotland, the average price increased by 3.4% over the year to stand at £144,000. The average price in Northern Ireland is currently £123,000.
On a regional basis, London continues to be the region with the highest average house price at £485,000, followed by the South East and the East of England, which stand at £313,000 and £274,000 respectively. The lowest average price continues to be in the North East at £130,000.
The East of England is the region which showed the highest annual growth, with prices increasing by 13.2% in the year to July 2016.
Growth in London remains high at 12.3%, followed by the South East with an 11.9% annual growth. The lowest annual growth was in the Yorkshire and The Humber, where prices increased by 4.7% over the year.
On the up: House prices in South Bucks have not been affected by the vote to leave the EU