Here's how much house prices in England and Wales have increased in the last year

Shruti Tripathi Chopra
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On an annual basis, the average house price in England and Wales rose by £8,433 (Source: Getty)

House prices in England and Wales dipped slightly (0.2 per cent) in July but still recorded annual growth, according to Your Move’s latest house price index.

All regions across England and Wales recorded annual growth, with average house prices rising by £8,433.

The index found that transactions dropped an estimated nine per cent in July from the previous month.

Read more: What's going to happen to the UK housing market? Here's what experts think

Nationally, the biggest drops in annual growth were in Wales, down 1.5 per cent to just 0.2 per cent for the year while the west Midlands saw annual growth drop 1.3 per cent to 3.3 per cent.

Both the south east and Yorkshire and the Humber saw annual growth rates fall 1.2 per cent to 3.5 per cent and 1.5 per cent respectively.

Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “Annual prices are still rising positively and regions continue to perform strongly – despite the slowdown in transaction numbers over the summer months.

“While, as a business, we often see this at this time of year, the cause of the dip may also be down to the buy-to-let slowdown as a result of tax changes.”

Average House Prices in England and Wales, July 2016 - July 2017

Month House price Monthly change (%) Annual change (%)
July 2016 £290,473 0.1 6.8
August 2016 £291,375 0.3 6.0
September 2016 £293,321 0.7 6.0
October 2016 £296,065 0.9 5.8
November 2016 £297,832 0.6 6.2
December 2016 £300,058 0.7 6.2
January 2017 £302,542 0.8 6.2
February 2017 £304,306 0.6 4.6
March 2017 £304,960 0.2 4.6
April 2017 £303,220 -0.6 4.1
May 2017 £301,376 -0.6 4.2
June 2017 £299,537 -0.6 3.3
July 2017 £298,906 -0.2 2.9

Read more: Revealed: The top 10 best and worst buy-to-let postcodes in the UK

What's going on in London?

Citing data from June, Your Move revealed that Lewisham house prices saw the biggest increase of the month, up 2.4 per cent.

With an average value of a home now at £469,709 Lewisham was the only borough in London during June to record a new peak price.

Overall, prices in the capital fell by 1.5 per cent in June for the third month in a row in June.

The fall shaved £8,913 off the average property price in London, but this still remains double the national average, at £602,849.

Read more: The London areas where property prices have increased the most since 2009

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