House Price Growth Slowest Since 2012, Say ONS
House Price Growth Slowest Since 2012, Say ONS
By Charles Kelly
Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast
UK house prices rose at the slowest rate to July than at any time since September 2012, up by 0.7%, official figures reveal.
According to the Office for National Statistics (ONS) there has been a general slowdown in UK property price growth in the last three years.
The overall growth rate has been dragged down by a declining market in London and south-eastern England.
However, the latest figures show the biggest drop in prices in the last year was in the North East of England.
Property values in the North East region dropped by 2.9% in the year to July and were down by 2.1% in July compared with June, data from the ONS and Land Registry shows.
There were also annual falls in house prices in the South East of England (down 2%), London (down 1.4%), and the East of England (down 0.5%).
Overall in the UK, the annual rise of 0.7% was the slowest since the 0.4% rise of September 2012. The biggest rise was in Wales, up 4.2%. The typical property in the UK is now valued at £233,000.
The ONS/Land Registry data is generally considered to be the most accurate house price estimate, although it covers a period which is slightly earlier than other surveys.
The news comes on the back of government measures to penalise buy-to-let investors and anybody buying a property over £1 million, which could be a London flat or small detached in the South East of England.
If you would like to get into property but not sure how, my friends at Progressive are running several events to give you the opportunity to look at a number of strategies so you can decide which is best for you.
Here are some upcoming dates, but don’t worry if you can’t make or have missed them as there will be more courses laid on in the new year.
Multiple Streams of Property Income Event
- 20-22nd September – Peterborough
- 11-13th October – Peterborough
- 25-27th October – Peterborough
An excellent 3 day event covering multiple streams of income and strategies.
No money for deposits?
Why not start by finding deals and packaging them up to sell on to others. Learn more at the deal packaging discovery day
Deal Packaging Discovery Day
- 25th September
- 30th October
A 1 day event giving you a strategy where you can make money from property without using any of your own money.
We also have a 1 day beginners property secrets course, which can introduce you to property investing.
Beginners Property Secrets Day
- 9th September
- 17th September
- 24th September
- 3rd October
- 8th October
Other events:
No Money Down Discovery Day
- 23rd September
- 10th October
Joint Venture Finance Day
- 5-6th September
- 23-24th October
Serviced Accommodation Discovery Day
- 13th September
- 26th September
- 31st October
House of Multiple Occupancy Discovery Day
- 11th September
I have a limited number of complimentary tickets for these events. If you are interested, message me on Facebook or email me at charles@charleskelly.net
The Bank of England kept base rates at .75% today, as the US Federal Reserve and ECB cut rates this week.
Word of the Day
ONS
ONS is the Office for National Statistics. ONS is the official body with responsibilities are collecting, analysing and disseminating statistics about the UK’s economy, society and population.
There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.
See also:
How to earn up to 500% higher yields on your investments without high risks
3 Myths of Property Investment
Can you really by property with one click?
New App launched that cancels subscriptions after free trial
