House sales UK: THIS area has had the highest increase in transactions

House prices were slow in July but all regions in England and Wales have still shown record annual growth. 

The East of England is still in the lead with 5.1 per cent annual price growth. 

But it’s Wales which has seen the biggest increase in transactions in the second quarter of the year, despite low price rises. 

Looking at increases in transaction volumes between this time of year in 2015 and this year across all 108 unitary authorities in England and Wales, the top five were all in Wales. 

Torfaen transactions rose 28 per cent, Caerphilly rose 26 per cent, Isle of Anglesey rose 26 per cent, Ceredigion rose 22 per cent and Wrexham rose by 19 per cent. 

The latest figures come from Your Move’s latest England and Wales House Price Index. 

Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents, said: “Annual prices are still rising positively and regions continue to perform strongly – despite the slowdown in transaction numbers over the summer months. 

“While, as a business, we often see this at this time of year, the cause of the dip may also be down to the buy-to-let slowdown as a result of tax changes.” 

According to Your Move’s House Price Index last month, prices fell in June continuing to life for the third month in a row with average values down £2,358 in the last quarter. 

Despite this, the broad trend over the last year remained a modest rise, and prices were still 3.8 per cent or £11,037 up on this time last year. 

The city of Peterborough had the highest increase in sales, up 2015 on 2015 levels. 

In London, Westminster set a new peak price, up 19.7 per cent annually to reach £1,865,843. 

The slide in house prices coincided with the period since the calling of the general election in April, but according to Your Move was not the sole cause.