Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 21 January 2016

England house price record

The ONS released its UK House Price Indices to November 2015, which showed relative weakness across most of the home nations, but England house prices rising to a new record high of £302,000.

The UK index is now +19.4 per cent above its 2008 peak.

London prices were up by +9.8 per cent over the year to a new high of £537,000. 

The London index is now +50 per cent above it 2008 pre-downturn peak. The surrounding South East (+24 per cent) and East (+24 per cent) are also now well above their 2008 peaks.

Excluding the capital city London and the adjacent South East price growth has been more subdued.

Despite the lowest unemployment rate in more than a decade, lcoal share markets are getting flogged, the FTSE down by another -3.5 per cent to 5673.58 overnight. 

In April 2015 the index had reached as high as 7,089.

Hometrack's index, which tracks 20 UK cities, showed that London was the second fastest growing city for house prices in 2015 (+13.8 per cent).

The fastest, yet again, was Cambridge, with prices up by another +14.4 per cent over the year.