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UK House Price Index for December 2020

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

The November data shows:

  • on average, house prices have risen 1.2% since November 2020
  • there has been an annual price rise of 8.5% which makes the average property in the UK valued at £251,500

England

In England, the December data shows on average, house prices have risen by 1.5% since November 2020. The annual price rise of 8.5% takes the average property value to £269,150.

The regional data for England indicates that:

  • the East Midlands experienced the greatest monthly price rise, up by 2.8%
  • London saw the lowest monthly price growth, with a fall of 1.1%
  • the North West experienced the greatest annual price rise, up by 11.2%
  • London saw the lowest annual price growth, with a rise of 3.5%

Price change by region for England

Region Average price December 2020 Annual change % since December 2019 Monthly change % since November 2020
East Midlands £215,046 10.6% 2.8%
East of England £310,912 7% 2.4%
London £496,066 3.5% -1.1%
North East £141,154 9.2% 1.9%
North West £183,727 11.2% 2.5%
South East £341,007 6.1% 0.1%
South West £282,388 10.2% 2.3%
West Midlands £216,950 9.4% 1.9%
Yorkshire and the Humber £182,907 10.4% 1.1%


Repossession sales by volume for England

The lowest number of repossession sales in October 2020 was in the East of England.

The highest number of repossession sales in October 2020 was in the North West.

Repossession sales October 2020
East Midlands 25
East of England 9
London 30
North East 68
North West 88
South East 36
South West 27
West Midlands 35
Yorkshire and The Humber 36
England 354


Average price by property type for England

Property type December 2020 December 2019 Difference %
Detached £413,341 £375,353 10.1
Semi-detached £253,978 £233,213 8.9
Terraced £220,396 £201,726 9.3
Flat/maisonette £234,778 £224,882 4.4
All £269,150 £248,097 8.5


Funding and buyer status for England

Transaction type Average price December 2020 Annual price change % since December 2019 Monthly price change %since November 2020
Cash £253,634 8.6 1.7
Mortgage £277,012 8.4 1.4
First-time buyer £224,560 7.8 1.5
Former owner occupier £307,113 9.2 1.4


Building status for England

Building status* Average price October 2020 Annual price change % since October 2019 Monthly price change % since September 2020
New build £327,486 6.3 -0.7
Existing resold property £258,708 5.6 1.1


*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Click here for the full press release

 

Channel website: https://www.gov.uk/government/organisations/land-registry

Original article link: https://www.gov.uk/government/news/uk-house-price-index-for-december-2020

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