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UK house prices soar 17,000 in a year to hit 217,000


09-14-2016

The average house in the UK now costs 217,000.
 
The average house in the UK now costs 217,000. Credit: PA

The average house price in the UK has increased by 17,000 in the last year.

The increase means that the average house price in the UK is now 217,000.

Property values also increased by 1,000 on average in the last month, continuing a "strong" run of growth, according to the Office for National Statistics (ONS).

As of July the average house price in England stood at 233,000, while in Wales it was 145,000, in Scotland it was 144,000 and in Northern Ireland it was 123,000.

As the effects of Brexit on the housing market become clearer in the coming months, Thomas Fisher, an economist at PwC, said: "Our own expectation is that the UK housing market will cool not crash."

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