The Land Registry index is an interesting source of information on the residential property market in the UK, and this is a very short summary of 2016 based on the index to date.
“As of September 2016 the average house price in the UK is £217,888, and the index stands at 114.28. Property prices have risen by 0.2% compared to the previous month, and risen by 7.7% compared to the previous year.” – Land Registry.
But how did Brighton & Hove property do in the same period? The short answer is that it did better than the national average. As at September 2016 the index for Brighton & Hove property stood at 119.01, with an annual increase in prices of 10.19%.
This does not tell the whole picture, as in August the index stood slightly higher and the then annual increase stood at 13.01%. So a little dip between July and September, but an overall increase year on year.
The activity data indicates that the busiest time of the year was March, with a dip in April and a steady increase in property market activity since (up to September which is the most recent data the Land Registry has published). One of the issues with Land Registry data is that it is based on applications made for registration of property transfers and it does tend to lag somewhat behind the current period.
Anyway, I may well publish an update early in 2017..