House Price Index - August 2016

How is the UK house price index looking this month?

Average property price falls by 1.2%. Statistics from more than 90% of the market show that property coming to the market has fallen in price by 1.2%. This is in line with the 1.2% average drop over the last two years during this time of the year. 

Largest drop in price and longest time to sell for larger homes. In contrast; first-time buyer and second-stepper type properties are doing the best.

Number of days to sell increases most in London and South East. The summer slowdown follows on from the Brexit uncertainty, meaning that the speed of sale has been slowed down most in London and its commuter belt in the past two months. 

2016 set to be a year of two halves. In the first half of the year, buy-to-let surged boosting property transactions to 12% higher than in 2015. July buyer enquiries to agents were down by 18%, meaning that the outcome of the second half of the year hangs on the strength of the traditional autumn market rebound. 

All data from the RightMove website