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		</div><p>UK house prices have gone through volatile increases over the past 5 years. Ever since the pre-economic downturn peak of 185.5 in January 2008, the UK index has increased by over 16.9%. If we track back to 2004 up until now, the percentage changes over a 12 month period have gone through an &#8220;up and down&#8221; movement, of which we are on the downward slope of this curve. This graph may explain more.</p>
<p>Annual house price rates of change, UK all dwellings from January 2004 to July 2015</p>
<figure id="attachment_81493" aria-describedby="caption-attachment-81493" style="width: 482px" class="wp-caption aligncenter"><a href="http://londonglossy.com/wp-content/uploads/2015/10/Picture-3.png"><img src="http://londonglossy.com/wp-content/uploads/2015/10/Picture-3.png" alt="Source: The Office of National Statistics" width="482" height="344" class="size-full wp-image-81493" /></a><figcaption id="caption-attachment-81493" class="wp-caption-text">Source: The Office of National Statistics</figcaption></figure>
<p><b>Regional Variations</b></p>
<p>During the year up until july 2015:</p>
<li>England house prices increased by 5.6%</li>
<li>Wales increased by 0.3%</li>
<li>Northern Ireland increased by 7.4%</li>
<li>Scotland prices fell by 1.3%</li>
<p>London house prices increased by 5.5% in the year. It has increased from its previous record level of 249.1 in June 2015, reaching 255.2 in July 2015. At this rate, according to RightMove, the average price of a property could hit £1 million by 2020. With little signs of opportunity from the ever-shrinking middle class, it could be almost impossible to maintain a home within the UK. </p>
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