HM Land Registry
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UK House Price Index for November 2023
The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.
The November data shows:
- on average, house prices have fallen -0.8% since October 2023
- there has been an annual price fall of -2.1% which makes the average property in the UK valued at £285,000
England
In England the November data shows, on average, house prices have fallen by -1.2% since October 2023. The annual price fall of -2.9% takes the average property value to £302,000.
The regional data for England indicates that:
- every region experienced negative monthly growth except Yorkshire and the Humber, where there was 0.0% change in house prices
- the West Midlands region saw the most significant monthly price fall with a movement of -3.1%
- no region experienced positive annual growth; the North East experienced the smallest decrease in its average property value over the last 12 months with a movement of -0.4%
- London saw the lowest annual price growth, with a fall of 6.0%
Price change by region for England
| Region | Average price Nov 2023 | Annual change % since Nov 2022 | Monthly change % since Oct 2023 |
|---|---|---|---|
| East Midlands | £244,000 | -3 | -0.8 |
| East of England | £347,000 | -3.3 | -0.2 |
| London | £505,000 | -6 | -2.2 |
| North East | £160,000 | -0.4 | -0.2 |
| North West | £213,000 | -0.2 | -0.9 |
| South East | £386,000 | -2.3 | -0.4 |
| South West | £319,000 | -4.1 | -2.7 |
| West Midlands | £244,000 | -3.4 | -3.1 |
| Yorkshire and the Humber | £209,000 | -0.8 | 0.0 |
Repossession sales by volume for England
The lowest number of repossession sales in September 2023 was in the East of England.
The highest number of repossession sales in September 2023 was in the North East and North West.
| Repossession sales | Sep 2023 |
|---|---|
| East Midlands | 6 |
| East of England | 1 |
| London | 12 |
| North East | 16 |
| North West | 16 |
| South East | 9 |
| South West | 8 |
| West Midlands | 10 |
| Yorkshire and the Humber | 13 |
| England | 91 |
Average price by property type for England
| Property type | Nov 2023 | Nov 2022 | Difference % |
|---|---|---|---|
| Detached | £480,000 | £488,000 | -1.7 |
| Semi-detached | £291,000 | £299,000 | -2.2 |
| Terraced | £244,000 | £255,000 | -4.5 |
| Flat/maisonette | £245,000 | £253,000 | -3.0 |
| All | £301,000 | £311,000 | -2.9 |
Funding and buyer status for England
| Transaction type | Average price | ||
|---|---|---|---|
| Nov 2023 | Annual price change % since Nov 2022 | Monthly price change % since Oct 2023 | |
| Cash | £283,000 | -2.9 | -0.9 |
| Mortgage | £311,000 | -2.9 | -1.2 |
| First-time buyer | £250,000 | -3.2 | -1.2 |
| Former owner occupier | £347,000 | -2.7 | -1.2 |
Building status for England
| Building status* | Average price | ||
|---|---|---|---|
| Sep 2023 | Annual price change % since Sep 2023 | Monthly price change % since Aug 2023 | |
| New build | £422,000 | 7.9 | -5.3 |
| Existing resold property | £301,000 | -1.5 | 0.0 |
*Figures for the 2 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 fallen by -2.2% since October 2023. An annual price fall of -6% takes the average property value to £505,000.
Average price by property type for London
| Property type | Nov 2023 | Nov 2022 | Difference % |
|---|---|---|---|
| Detached | £1,021,000 | £1,101,000 | -7.3 |
| Semi-detached | £662,000 | £698,000 | -5.2 |
| Terraced | £554,000 | £592,000 | -6.5 |
| Flat/maisonette | £418,000 | £443,000 | -5.7 |
| All | £505,000 | £537,000 | -6.0 |
Funding and buyer status for London
| Transaction type | Average price | ||
|---|---|---|---|
| Nov 2023 | Annual price change % since Nov 2022 | Monthly price change % since Oct 2023 | |
| Cash | £512,000 | -7.8 | -3.7 |
| Mortgage | £502,000 | -5.5 | -1.9 |
| First-time buyer | £436,000 | -5.8 | -1.7 |
| Former owner occupier | £580,000 | -6.3 | 3.0 |
Building status for London
| Building status* | Average price | ||
|---|---|---|---|
| Sep 2023 | Annual price change % since Sep 2023 | Monthly price change % since Aug 2023 | |
| New build | £559,000 | 1.7 | -5.8 |
| Existing resold property | £530,000 | -2.4 | 0.9 |
*Figures for the 2 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 fallen by 0.3% since October 2023. An annual price fall of 2.4% takes the average property value to £213,000
There were 12 repossession sales for Wales in September 2023.
Average price by property type for Wales
| Property type | Nov 2023 | Nov 2022 |
Channel website: https://www.gov.uk/government/organisations/land-registry
Original article link: https://www.gov.uk/government/news/uk-house-price-index-for-november-2023 Share this article
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