House prices across England and Wales up 0.8%

House prices across England and Wales grew by 0.8% in June, according to the latest e.surv House Price Index.

English and Welsh house prices have now grown by 10.7% on annual basis, to take the average price to £336,247.

e.surv’s data also revealed that excluding London and the South East, annual house price growth was even greater and sat at 13.9% in June. The North West of England has seen the highest rate of growth for the last nine months, the data showed.

“Over the last 12 months, our index has shown the average price of a home sold in England and Wales has increased by some £32,500, or 10.7%,” e.surv director, Richard Sexton, commented.

“If we exclude London from this then the figure is a very considerable 14%. Nevertheless, even including the capital, this is the highest annual rate since February 2005. It is now 14 months since any of the areas in our index have recorded a fall in house prices, and this is while the UK economy has been under the severest pressure it has faced in living memory.”

e.surv’s index also highlighted that any slowing of price rises in the period between March and May because of the initial expected end of the stamp duty holiday had been “short-lived”.

“This is in part because of the extension of the holiday but also the more general optimism in the economy which has seen many transactions that were previously postponed come back online,” Sexton added.

“Mid-April, even before the stamp duty holiday ends, the government has introduced further fiscal support in the shape of its 95% LTV mortgage guarantee scheme. This is giving continued support and confidence to borrowers and mortgage lenders, many of whom have re-introduced their own higher LTV lending to the market. This is good for the market and for home movers.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.