Average house prices in the UK increased by 8.3% in the year to July 2016, according to the latest official house price index from the Office For National Statistics.

But this figure was down from 9.7% in the year to June 2016, suggesting a possible Brexit related slowdown.

The average UK house price was £217,000 in July 2016. This is £17,000 higher than in July 2015 and £1,000 higher than last month.

Regional split

The main contribution to the increase in UK house prices came from England, where house prices increased by 9.1% over the year to July 2016, with the average price in England now £233,000.

Wales saw house prices increase by 4.0% over the last 12 months to stand at £145,000. In Scotland, the average price increased by 3.4% over the year to stand at £144,000. The average price in Northern Ireland is currently £123,000.

On a regional basis, London continues to be the region with the highest average house price at £485,000, followed by the South East and the East of England, which stand at £313,000 and £274,000 respectively. The lowest average price continues to be in the North East at £130,000.

The East of England is the region which showed the highest annual growth, with prices increasing by 13.2% in the year to July 2016.

Growth in London remains high at 12.3%, followed by the South East with an 11.9% annual growth. The lowest annual growth was in the Yorkshire and The Humber, where prices increased by 4.7% over the year.

Andy Knee, chief executive of LMS, said: “It’s important not to over-react to a much-anticipated slowdown in house price growth following the UK’s vote to leave the EU. Having fallen from 9.7%, the annual growth rate of 8.3% in July is still higher than it was at any point between December 2014 and April this year.

“Every English region has seen average house prices rise by a minimum of £7,000 over the last year, and just two – the South West and West Midlands – have seen prices drop in the last month. Even then, the dip of just £1,000 is barely half a percent in either case.

“Many people would have been surprised to see no effect whatsoever on the housing and mortgage markets after the vote, but the continuing upsurge in average house prices suggests a good degree of underlying strength.”