As always we will steer you in the direction of the full facts at https://www.gov.uk/government/news/uk-house-price-index-for-october-2017.
However here is a brief overview from the Government Press Release dated 12 December.
The October data shows an annual price rise of 4.5%, which takes the average property value in the UK to £223,807 but house prices have fallen by 0.5% since September 2017. Overall the data for England shows:
• an annual price rise of 4.7% which takes the average property value to £240,860
• house prices have fallen by 0.6% since September 2017
The regional data indicates that:
• the East Midlands experienced the greatest rise in average property price over the last 12 months, up by 7%
• the East Midlands and the South West experienced the greatest monthly price rise, both up by 0.2%
• London saw the lowest annual price rise, up by 2.1%
• the North West saw the most significant monthly price fall, down by 2%
Looking more closely at regional levels of the UK, the largest annual growth was in the East Midlands at 7%, up from 6.3% in September 2017. It was followed by the South West, which showed annual growth of 6.7%. The slowest annual growth was in London at 2.1%, a fall from 2.9% in September 2017. This is the 11th consecutive month where the growth in London house prices has remained below the UK average. The second slowest annual growth was in the North East at 2.4%.