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UK House Price Index for January 2020

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

The January data shows:

  • on average, house prices have fallen by 1.1% since December 2019
  • there has been an annual price rise of 1.3%, which makes the average property in the UK valued at £231,185

England

In England the January data shows, on average, house prices have fallen by 1.2% since December 2019. The annual price rise of 1.1% takes the average property value to £247,355.

The regional data for England indicates that:

  • the West Midlands experienced the greatest monthly price rise, up by 0.4%
  • the North East saw the most significant monthly price fall, down by 2.6%
  • Yorkshire and the Humber experienced the greatest annual price rise, up by 3.1%
  • the East of England saw the lowest annual price growth, down by 0.6%

London

London shows, on average, house prices have fallen by 1.1% since December 2019. An annual price rise of 1.4% takes the average property value to £476,588.

Wales

Wales shows, on average, house prices have fallen by 2.9% since December 2019. An annual price rise of 2.0% takes the average property value to £161,719.

There were 58 repossession sales for Wales in November 2019.

UK house prices

UK house prices increased by 1.3% in the year to January 2020, down from 1.7% in December 2019. On a non-seasonally adjusted basis, average house prices in the UK fell by 1.1% between December 2019 and January 2020, compared with a fall of 0.6% during the same period a year earlier (December 2018 and January 2019).

The UK Property Transaction Statistics for January 2020 showed that on a seasonally adjusted basis, the estimated number of transactions on residential properties with a value of £40,000 or greater was 102,810. This is 5.2% higher than a year ago. Between December 2019 and January 2020, transactions increased by 4.1%.

House price growth was strongest in Northern Ireland where prices increased by 2.5% over the year to Quarter 4 (October to December) 2019. The lowest annual growth was in the East of England, where prices decreased by 0.6% over the year to January 2020, followed by the South East where prices fell by 0.5% over the year.

See the economic statement..

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-january-2020

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