December 2023 House Price Index
The Land Registry always works 3 months behind as it takes so long to register new sales. So we are now looking at figures for September 2023 despite the fact we are almost at the end of December. The graphs below show figures from June 2019 to September 2023. The hope is that by keeping an eye on the graphs we can spot trends in the property market.
Zoopla and Rightmove do this every month too and their reports can be seen on the links below:
Below we take a look at the House Price Index released by the Land Registry for September which follows on from last month’s report.
Ceredigion:
We can see the percentage change has dropped in the county year-on-year to 0.5%, down from 3.1% last month. The average monthly percentage change is down 2%, (from 2.1% last month to 0.1%). However, the average house prices have increased slightly from £257,856 to £258,028 (an increase of £172):
Pembrokeshire:
Meanwhile, in Pembrokeshire, house prices have increased from an average of £228,537 to £239,037 (an increase of £10,500). And the year-on-year percentages have increased to -3.2% up from -6.3% last month. With a monthly average increase from -0.1% in August to 4.6% in September:
Carmarthenshire:
In Carmarthenshire house prices have dropped overall from an average house price value of £203,908 to £202,427 (a drop of £1,481), with a monthly percentage drop of 1% (from 0.7% down to -0.7% from the previous month) and a year-on-year drop -1.7% down from 0.5% in August:
All of this shows the downward trend is continuing, for now. We will carry on monitoring and reporting this every month.
A note from the Land Registry:
Current index
As of September 2023, the average house price in the UK is £291,385, and the index stands at 152.8. Property prices have fallen by 0.5% compared to the previous month, and fallen by 0.1% compared to the previous year. For more info on the House Price Index please CLICK HERE
*Land Registry Figures are found here – Ceredigion, Pembrokeshire, Carmarthenshire true as of December 2023