HM Land Registry
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UK House Price Index for June 2019

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

The June data shows:

  • on average, house prices have risen by 0.7% since May 2019
  • there has been an annual price rise of 0.9%, which makes the average property in the UK valued at £230,292

England

In England, the June data shows on average, house prices have risen by 0.7% since May 2019. The annual price rise of 0.7% takes the average property value to £246,728.

The regional data for England indicates that:

  • the North East experienced the greatest monthly price rise, up by 1.7%
  • the South West saw the most significant monthly price fall, down by 0.4%
  • the East Midlands experienced the greatest annual price rise, up by 3.2%
  • London saw the largest annual price fall, down by 2.7%

Price change by region for England

Region Average price June 2019      Monthly change % since May 2019
East Midlands £195,344 1.6
East of England £291,370 0.5
London £466,824 0.7
North East £130,342 1.7
North West £164,116 0.2
South East £322,866 1.1
South West £252,122 -0.4
West Midlands £198,993 0.9
Yorkshire and the Humber      £161,997 0.6

Repossession sales by volume for England

The lowest number of repossession sales in April 2019 was in the East of England.

The highest number of repossession sales in April 2019 was in the North West.

Repossession sales April 2019
East Midlands 43
East of England 18
London 31
North East 67
North West 123
South East 58
South West 70
West Midlands 53
Yorkshire and The Humber      98
England 561

Average price by property type for England

Property type June 2019      June 2018      Difference %
Detached £376,187 £369,449 1.8
Semi-detached      £232,844 £228,872 1.7
Terraced £199,951 £197,758 1.1
Flat/maisonette £221,164 £227,383 -2.7
All £246,728 £244,962 0.7

Funding and buyer status for England

Transaction type Average price June 2019 Annual price change % since June 2018 Monthly price change %since May 2019
Cash £232,486 0.9 0.8
Mortgage £253,915 0.7 0.6
First-time buyer £206,062 0.1 0.5
Former owner occupier £281,243 1.3 0.9

Building status for England

Building status* Average price April 2019 Annual price change % since April 2018 Monthly price change % since March 2019
New build 1.1 1.2 £305,490
Existing resold property 0.7 1.2 £241,226

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

London

London shows, on average, house prices have risen by 0.7% since May 2019. An annual price fall of 2.7% takes the average property value to £466,824.

Average price by property type for London

Property type June 2019      June 2018      Difference %
Detached £901,854 £909,153 -0.8
Semi-detached £583,338 £587,607 -0.7
Terraced £493,000 £497,145 -0.8
Flat/maisonette      £403,042 £421,188 -4.3
All £466,824 £479,931 -2.7

Funding and buyer status for London

Transaction type Average price June 2019 Annual price change % since June 2018 Monthly price change % since May 2019
Cash £486,332 -3.5 0.3
Mortgage £460,701 -2.5 0.8
First-time buyer £405,419 -3.4 0.5
Former owner occupier £531,937 -1.8 1.0

Building status for London

Building status* Average price April 2019 Annual price change % since April 2018 Monthly price change % since March 2019
New build £484,341 -2.9 1.3
Existing resold property £468,699 -1.3 1.5

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

Wales

Wales shows, on average, house prices have risen by 1.2% since May 2019. An annual price rise of 4.4% takes the average property value to £163,768.

There were 40 repossession sales for Wales in April 2019.

Average price by property type for Wales

Property type June 2019      June 2018      Difference %
Detached £246,123 £236,211 4.2
Semi-detached      £159,061 £151,609 4.9
Terraced £127,172 £121,143 5.0
Flat/maisonette £113,974 £113,053 0.8
All £163,768 £156,864 4.4

Funding and buyer status for Wales

Transaction type Average price June 2019 Annual price change % since June 2018 Monthly price change % since May 2019
Cash £158,359 3.9 0.6
Mortgage £166,938 4.7 1.5
First-time buyer £141,234 4.2 1.2
Former owner occupier      £190,104 4.6 1.3

Building status for Wales

Building status* Average price April 2019 Annual price change % since April 2018 Monthly price change % since March 2019
New build £215,497 5.1 1.1
Existing resold property £158,410 5.2 1.0

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

Access the full UK HPI

UK house prices

UK house prices rose by 0.9% in the year to June 2019, unchanged from May 2019.

The UK Property Transaction Statistics for June 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 84,490. This is 16.5% lower compared with a year ago. Between May 2019 and June 2019, transactions decreased by 9.7%.

House prices grew fastest in Wales increasing by 4.4% in the year to June 2019. The lowest annual growth was in London, where prices fell by 2.7% over the year to June 2019, up from a fall of 3.1% in May 2019.

See the economic statement.

Background

  1. The UK House Price Index (HPI) is published on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. The July 2019 UK HPI will be published at 9.30am on Wednesday 18 September 2019. See calendar of release dates.

  2. We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.

  3. The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.

  4. Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.

  5. Revision tables have been introduced for England and Wales within the downloadable data. Tables will be available in csv format. See about the UK HPI for more information.

  6. Data for the UK HPI is provided by HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency.

  7. The UK HPI is calculated by the Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency. It applies a hedonic regression model that uses the various sources of data on property price, in particular HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.

  8. The UK Property Transaction statisticsare taken from HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series so HMRC also presents the UK aggregate transaction figures on a seasonally adjusted basis. Adjustments are made for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.

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

Original article link: https://www.gov.uk/government/news/uk-house-price-index-for-june-2019

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