Average house prices throughout the UK rose by 4.5% in the year to October but there are signs that they may be starting fall.

There was a decrease of 0.5% between September and October 2017. However, Wales bucked the trend with an increase of 0.8%.

The price of the average house in the UK is now £223,807.

The figures are compiled by HM Land Registry. They pre-date the changes in Stamp Duty announced in the Budget, and the increases in interest rates.

Price change by region for England
Region Average price October 2017 Annual change % since October 2016 Monthly change % since September 2017
East Midlands £184,544 7.0 0.2
East of England £289,168 6.1 0.1
London £481,102 2.1 -0.9
North East £127,224 2.4 -0.1
North West £154,056 3.9 -2.0
South East £322,311 4.6 -0.5
South West £251,376 6.7 0.2
West Midlands £186,351 5.2 -1.1
Yorkshire and the Humber £155,281 3.3 -1.1

Wales
The data for Wales shows:
• an annual price rise of 4.5% which takes the average property value to £153,316
• house prices have risen by 0.8% since September 2017.

Please contact us if you would like advice about the legal aspects of buying or selling a home.