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Press release: UK House Price Index (HPI) for December 2016

The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland.

The December data shows an annual price increase of 7.2% which takes the average property value in the UK to £219,544. Monthly house prices have risen by 1.4% since November 2016. The monthly index figure for the UK was 115.2.

In England, the December data shows an annual price increase of 7.7% which takes the average property value to £236,424. Monthly house prices have risen by 1.6% since November 2016.

Wales shows an annual price increase of 4.7% which takes the average property value to £148,177. Monthly house prices have risen by 1% since November 2016.

London shows an annual price increase of 7.5% which takes the average property value to £483,803. Monthly house prices have risen by 1.8% since November 2016.

The regional data indicates that:

UK Property Transaction statistics show the number of home sales in the UK (seasonally adjusted) increased by 0.2% between November and December 2016, but compared with December 2015 there were 8.5% fewer home sales. See the economic statement.

Sales during October 2016, the most up-to-date Land Registry figures available, show that:

  • the number of completed house sales in England fell by 34.5% to 58,853 compared with 89,884 in October 2015

  • the number of completed house sales in Wales fell by 25.9% to 3,415 compared with 4,610 in October 2015

  • the number of completed house sales in London fell by 44.9% to 6,166 compared with 11,200 in October 2015

  • there were 617 repossession sales in England in October 2016
  • there were 53 repossession sales in Wales in October 2016

  • the lowest number of repossession sales in England and Wales in October 2016 was in the East of England.

Access the full December UK HPI

Price change by region for England

England by region Monthly change % since November 2016 Annual change % since December 2015 Average price December 2016
East Midlands 1.0 7.1 £176,790
East of England 1.9 11.3 £281,513
London 1.8 7.5 £483,803
North East 2.3 4.1 £128,631
North West 1.9 6.6 £152,259
South East 1.7 8.5 £316,026
South West 1.3 7.0 £242,808
West Midlands 0.4 7.1 £181,328
Yorkshire and The Humber 2.2 6.5 £154,985

Average price by property type for England

Average price by property type (England) December 2016 December 2015 Difference %
Detached £358,812 £331,013 8.4
Semi-detached £218,802 £203,031 7.8
Terraced £189,514 £177,739 6.6
Flat/maisonette £223,008 £205,939 8.3
All £236,424 £219,582 7.7

Price change for Wales

Wales Monthly change % since November 2016 Annual change % since December 2015 Average price December 2016
Wales 1.0 4.7 £148,177

Average price by property type for Wales

Average price by property type (Wales) December 2016 December 2015 Difference %
Detached £225,788 £213,773 5.6
Semi-detached £143,125 £135,730 5.4
Terraced £113,343 £109,745 3.3
Flat/maisonette £106,443 £101,662 4.7
All £148,177 £141,520 4.7

Average price by property type for London

Average price by property type (London) December 2016 December 2015 Difference %
Detached £907,046 £844,884 7.4
Semi-detached £576,108 £536,465 7.4
Terraced £494,231 £462,912 6.8
Flat/maisonette £430,554 £398,893 7.9
All £483,803 £450,053 7.5

Sales volumes for England

Month Sales 2016 England Sales 2015 England Difference %
September 64,311 82,452 -22.0
October 58,853 89,884 -34.5

Sales volumes for Wales

Month Sales 2016 Wales Sales 2015 Wales Difference %
September 3,492 3,896 -10.4
October 3,415 4,610 -25.9

Sales volumes for London

Month Sales 2016 London Sales 2015 London Difference %
September 6,698 11,065 -29.5
October 6,166 11,200 -36.5

Funding, buyer and building status for England

England Monthly price change % since November 2016 Annual price change % since December 2015 Average price December 2016
Cash 1.3 7.3 £221,888
Mortgage 1.7 7.9 £243,757
First-time buyer 1.7 7.4 £198,325
Former owner occupier 1.6 7.8 £268,323
New build 11.5 26.0 £335,416
Existing resold property 0.9 6.4 £230,285

Funding, buyer and building status for Wales

Wales Monthly price change % since November 2016 Annual price change % since December 2015 Average price December 2016
Cash 0.2 3.8 £143,469
Mortgage 1.5 5.2 £150,985
First-time buyer 1.0 4.3 £127,606
Former owner occupier 1.1 5.1 £172,228
New build 11.6 24.1 £224,423
Existing resold property 0.3 3.5 £144,002

Funding, buyer and building status for London

London Monthly price change % since November 2016 Annual price change % since December 2015 Average price December 2016
Cash 2.1 7.8 £512,775
Mortgage 1.8 7.4 £474,924
First time buyer 1.9 7.5 £423,249
Former owner occupier 1.8 7.5 £545,667
New build 10.9 23.4 £563,322
Existing resold property 1.1 6.2 £477,549

Repossession

Repossession sales October 2016
East Midlands 67
East of England 11
London 51
North East 91
North West 122
South East 75
South West 48
Yorkshire and The Humber 85
West Midlands 67
England 617
Wales 53

Notes to editors

  1. The UK House Price Index (HPI) is published on the second or third Tuesday of each month with Northern Ireland figures updated quarterly. The January 2017 UK HPI will be published at 9.30am on 21 March 2017. A calendar of release dates is available.

  2. Data for the UK HPI is provided by Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency.

  3. The UK HPI is calculated by the Office for National Statistics and Land & Property Services/Northern Ireland Statistics and Research Agency. It applies a hedonic regression model that uses the various sources of data on property price, in particular Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from ONS and Northern Ireland Statistics & Research Agency.

  4. The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.

  5. Work has been taking place since 2014 to develop a single, official HPI that reflects the final transaction price for sales of residential property in the UK. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.

  6. Information on residential property transactions for England and Wales, collected as part of the official registration process, is provided by Land Registry for properties that are sold for full market value.

  7. The Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).

  8. Repossession data is based on the number of transactions lodged with Land Registry by lenders exercising their power of sale.

  9. For England this is shown as volumes of repossessions recorded by Government Office region. For Wales there is a headline figure for the number of repossessions recorded in Wales.

  10. The data can be downloaded as a .csv file. Repossession data prior to April 2016 is not available. Find out more information about repossessions.

  11. Background tables of the raw and cleansed aggregated data, in Excel and CSV formats, are also published monthly although Northern Ireland is on a quarterly basis. They are available for free use and re-use under the Open Government Licence.

  12. As a government department established in 1862, executive agency and trading fund responsible to the Secretary of State for Business, Energy and Industrial Strategy, Land Registry keeps and maintains the Land Register for England and Wales. The Land Register has been open to public inspection since 1990.

  13. With the largest transactional database of its kind detailing more than 24 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.

  14. For further information about Land Registry visit www.gov.uk/land-registry

  15. Follow us on Twitter @LandRegGov our blog and LinkedIn and Facebook

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News story: Civil news: improvements to electronic CW3 immigration forms

Enhancements have been made to application forms in response to provider feedback.

Changes have been made to the following electronic versions of the CW3 form in response to feedback from providers:

  • CW3B Imm: Application for extension of Upper Costs Limit (electronic version)
  • CW3C Imm: Graduated Fee Scheme – application for extension of Disbursement Limit (electronic version)

The improvements include:

  1. more Excel formulas to auto calculate totals
  2. additional dropdown menu options
  3. removal of requirement for details of work done to date

Process and benefits

There have been no changes to the process for submitting electronic forms, which have the following benefits compared to the Word versions:

  • saves time because totals are validated as you complete the form
  • electronic signatures accepted so no need to print off, sign and scan before emailing
  • forms can be completed online, submitted directly by email and saved on to your system
  • documents can still be attached to support applications e.g. ledger/running record of costs
  • caseworkers able to process forms more efficiently so decisions made faster

Helpful hints

  • when opening form click the ‘enable content’ button at the top of screen above column ‘E’
  • section 2 of CW3B form does not need to be completed if you can attach a running record of costs confirming work carried out to date
  • remember that all CW3 applications must go to this mailbox: cw3@legalaid.gsi.gov.uk

Support and advice

If you need help using these forms then support is available from the Mental Health Unit and Escape Cases Team.

Electronic CW3 forms will eventually be mandatory to use and the option to scan and email Word versions instead will be removed. So, it is a good idea to familiarise yourself with the electronic versions.

Further information

CW3: extension of upper cost limit in controlled work cases – to download electronic versions of CW3B (Imm)

CW3C: disbursement limit extension– to download electronic version of CW3C

Escape cases electronic handbook – for detailed guidance on the CW3 process

cw3@legalaid.gsi.gov.uk – to submit your application or ask for help and advice

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News story: Government review team launches nationwide modern employment practices tour in London

Last October (2016), Matthew Taylor was asked by the Prime Minister to conduct an independent review to look at whether employment practices need to change in order to keep pace with modern business models.

Matthew and the review’s expert panel will launch their nationwide tour, with cities including Glasgow, Norwich, Cardiff, Belfast and Newcastle among those being visited to collect evidence and build an understanding of how people work in different parts of the country.

The team will today (14 February 2017) meet entrepreneurs and workers at Google Campus in east London to find out about the capital’s labour market and to understand the impact of new ways of working on employment rights.

They will go on to host a town hall-style event, where workers, employers, business owners and representative groups from London will give evidence on their experiences to help inform the review.

Matthew Taylor said:

Most people recognise that we need as many jobs as possible in our economy and that the flexibility of our labour market is a strength. But people also want work to be fair and decent and to offer opportunities for progression and fulfilment.

The question is: what can we do to make work better without undermining our country’s excellent record on job creation?

We’ve started working through these complex questions and now is just the right time to hear the views of businesses, employees, the self-employed and the public as a whole.

Business Minister Margot James said:

The Matthew Taylor Review is hugely important in helping us understand whether employment rights need to change to keep up with the various new ways people can work.

It is symbolic that Matthew will launch his country-wide regional tour in London, where thousands of people are already working in ways completely different from only a few years ago.

I’d encourage everyone to take part in the review to make sure their views on the modern labour market are heard.

With 15% of those working in the UK’s labour market now self-employed, there has been a rise in the number of people doing ‘gig’ work – short-term, casual work that is increasingly sought by people through mobile phone apps when they want to work.

These roles can include driving, delivering items and DIY tasks. This is one of the areas the review will consider. The massive expansion of ‘disruptive’ businesses – where new ways of working and technology come together to create new products and services to better meet consumer demand – is also leading to a change in working practices.

The 3 expert panel members for the Taylor review are:

  • Paul Broadbent – Chief Executive of the Gangmasters Licensing Authority (GLA), formerly assistant chief constable at Nottinghamshire Police.
  • Greg Marsh (entrepreneur) – Founder and formerly Chair and Chief Executive of onefinestay. He works with Amnesty International as an elected member of the charity’s Finance and Audit Committee, and is a Visiting Professor at Imperial College Business School.
  • Diane Nicol (employment lawyer) – Diane is a Partner at law firm Pinsent Masons specialising in employment law. She has over 20 years of experience of industrial relations disputes, senior exits and employment terms and conditions.

People can also take part in the review by contributing their experiences and ideas online, and by accessing tickets to the team’s town hall-style events via the review’s Dialogue page.

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News story: 6 weeks until the pound stops being round

Baroness Neville-Rolfe will pay tribute to the Royal Mint’s role as a global leader in the production of coins and medals – exporting to an average of 60 countries every year.

The visit comes ahead of a major export conference in Cardiff due to take place next month, celebrating Wales’ position as a leading exporter for goods and services across the world.

The minister will be accompanied on the visit to the factory in Llantrisant, Wales by the Welsh Secretary Alan Cairns.

Commercial Secretary to the Treasury Baroness Neville Rolfe said:

The introduction of a new pound coin, the most secure coin in the world, is a historic event. The fact this coin is made in Wales makes it even more special as it underlines the importance of the Union.

Our message is clear: if you have a round one pound coin sitting at home or in your wallet, you need to spend it or return it to your bank before 15 October.

Alun Cairns, Secretary of State for Wales, said:

It is particularly exciting to get a sneak preview of history being made today at the Royal Mint as the new pound coin is prepared for circulation. The presence of the Royal Mint in Wales as the creator of our currency – as well as being a major employer – underlines how central Wales is to the union.

The Royal Mint is also blazing a trail as an exporter. The UK government will shortly hold a conference for exporters in Wales, and companies like the Royal Mint are a great example to follow.

This is the first time the £1 coin has been changed in over 30 years. Around £1.3 billion worth of coins are stored in savings jars across the country, and the current £1 coin accounts for almost a third of these.

Therefore ministers are reminding the public of the importance of all old £1 coins being returned before 15 October 2017 when they lose their legal tender status.

The new 12-sided £1 coin will be the most secure coin in the world. It boasts several new security features, including a hologram, to prevent counterfeits, which cost taxpayers and businesses millions every year.

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Speech: “Not intent simply with killing innocents, terrorists seek to destabilise, demoralise, and disrupt our way of life.”

Thank you, Mr President

I am most grateful for the analysis shared by our briefers this morning. And I join others in paying tribute to you, Mr Minister, for your leadership in bringing this important issue to our attention.

Over the past decade, the terrorist threat has evolved. We face increasingly complex threats as terrorists acquire new knowledge and new technology. Not intent simply with killing innocents, terrorists seek to destabilise, demoralise, and disrupt our way of life.

Critical infrastructure, be it a transport system, a communications hub, or a power grid represents an attractive target for these sinister actors. The fact that those responsible for the attack on the Brussels Metro and airport last March had also invested time in surveillance of a Belgian nuclear scientist should concern us all. We must redouble our vigilance to ensure that we are ready to defend the systems that allow our societies to function.

So we wholeheartedly welcome the action taken by this Council today in adopting resolution 2341. That resolution raises the profile of this important issue; it calls on states to improve preparedness; and it strengthens our cooperation in protecting the security of our people and our critical infrastructure.

If we are to truly tackle this threat, I believe we need to focus, Mr President, on three things: preparation, protection and partnerships. So firstly, preparation

It’s vital that plans for protecting our critical infrastructure are comprehensively developed, maintained and tested. We echo the call of the resolution for states to develop their own strategies to prepare and respond to any attack.

Threats to our infrastructure can come from many sources: terrorism, criminality or natural hazards. In reducing the risk to our infrastructure, the United Kingdom takes an ‘all-risks’ approach. That means developing plans that can be used to respond to many types of disruption or threats to life. Measures taken by states to prevent unlawful or criminal interference in our infrastructure can also serve to help prevent terrorist attacks. It’s in part because of the strong measures we have taken that terrorist threats to our infrastructure are being mitigated.

Secondly, protection. The threat to some elements of our national infrastructure may be aspirational, but there is one area where the threat is very real and very high: and that is transport. As recent reports from the UN Secretary General show, there continues to be a serious and enduring threat from international terrorism to our transport networks – specifically to civil aviation.

Three billion passengers reach their destination by air every year. This past year has offered us too many reminders of the risks they face. Attacks on airports in Brussels and Istanbul. The destruction of the Russian Metrojet aircraft over Sinai. The explosion on board a Daallo Airways flight from Mogadishu.

It was to combat these threats that the United Kingdom authored resolution 2309, and today echo its call on States to work with the International Civil Aviation Organisation. Working together we can ensure not only that international security standards keep pace with the terrorist threat, but also, crucially, that they are implemented effectively on the ground.

Finally, partnerships. The critical infrastructure that we need to protect is largely owned by the private sector, and can also form part of complex international networks and supply chains. Preparation and protection of infrastructure are simply good intentions if we fail to work across sectors to achieve them.

Each side has its part to play. Private companies are responsible for ensuring that their infrastructure is protected and that essential services are maintained, just as governments have an obligation to ensure that industry is managing these risks fully and responsibly.

And as this resolution identifies, stronger international partnerships are vital at a time when the functioning of infrastructure relies on cross border networks and supply chains. The sharing of information, early warning networks and expertise will strengthen our common approach.

Mr President,

This Council needs to stay abreast of the evolution of the terrorist threat, and to respond to it. Just as we act to prevent conflict, we should also act pre-emptively to prevent terrorism. Today, we have put another building block in place to strengthen our common effort. Because of our efforts, terrorists intent on stirring chaos have another hurdle to cross. Because of our efforts, our societies are a little safer than they were yesterday.

Thank you.

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