HM Land Registry
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UK House Price Index for September 2023
The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.
The September data shows:
- on average, house prices have fallen 0.5% since August 2023
- there has been an annual price fall of 0.1% which makes the average property in the UK valued at £291,000
England
In England the September data shows, on average, house prices have fallen by 0.5% since September 2023. The annual price fall of 0.5% takes the average property value to £310,000.
The regional data for England indicates that:
- the North West experienced the greatest monthly rise with a movement of 0.5%
- Yorkshire and the Humber saw the lowest monthly price growth, with a fall of 2.0%
- the North East experienced the greatest annual price rise, up by 1.6%
- the South West saw the lowest annual price growth, with a fall of 1.6%
Price change by region for England
| Region | Average price August 2023 | Annual change % since August 2022 | Monthly change % since Aug 2023 |
|---|---|---|---|
| East Midlands | £251,000 | 0.4 | -0.6 |
| East of England | £353,000 | -1.4 | -0.4 |
| London | £537,000 | -1.1 | -0.3 |
| North East | £163,000 | 1.6 | -2 |
| North West | £218,000 | 0.6 | 0.5 |
| South East | £392,000 | -1.4 | -0.6 |
| South West | £329,000 | -1.6 | -0.1 |
| West Midlands | £254,000 | 0.5 | -0.2 |
| Yorkshire and the Humber | £210,000 | 0 | -2.4 |
Repossession sales by volume for England
The lowest number of repossession sales in July 2023 was in the East of England and South West.
The highest number of repossession sales in July 2023 was in the North West.
| Repossession sales | July 2023 |
|---|---|
| East Midlands | 5 |
| East of England | 1 |
| London | 9 |
| North East | 8 |
| North West | 16 |
| South East | 5 |
| South West | 1 |
| West Midlands | 2 |
| Yorkshire and the Humber | 5 |
| England | 52 |
Average price by property type for England
| Property type | September 2023 | September 2022 | Difference % |
|---|---|---|---|
| Detached | £490,000 | £487,000 | 0.6 |
| Semi-detached | £297,000 | £298,000 | -0.2 |
| Terraced | £252,000 | £256,000 | -1.5 |
| Flat/maisonette | £252,000 | £254,000 | -0.6 |
| All | £310,000 | £311,000 | -0.5 |
Funding and buyer status for England
| Transaction type | Average price September 2023 | Annual price change % since September 2022 | Monthly price change % since August 2023 |
|---|---|---|---|
| Cash | £289,000 | -0.9 | -0.8 |
| Mortgage | £320,000 | -0.3 | -0.5 |
| First-time buyer | £257,000 | -0.4 | -0.4 |
| Former owner occupier | £355,000 | -0.5 | -0.7 |
Building status for England
| Building status* | Average price July 2023 | Annual price change % since July 2023 | Monthly price change % since June 2023 |
|---|---|---|---|
| New build | £438,000 | 16.3 | 1.9 |
| Existing resold property | £301,000 | -0.2 | 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.
London
London shows, on average, house prices have fallen by 0.3% since August 2023. An annual price fall of 1.1% takes the average property value to £537,424.
Average price by property type for London
| Property type | September 2023 | September 2022 | Difference % |
|---|---|---|---|
| Detached | £1,076,000 | £1,112,000 | -3.3 |
| Semi-detached | £687,000 | £707,000 | -2.8 |
| Terraced | £592,000 | £600,000 | -1.3 |
| Flat/maisonette | £447,000 | £448,000 | -1.1 |
| All | £537,000 | £544,000 | -1.1 |
Funding and buyer status for London
| Transaction type | Average price September 2023 | Annual price change % since September 2022 | Monthly price change % since August 2023 |
|---|---|---|---|
| Cash | £548,000 | -2.4 | -1.5 |
| Mortgage | £533,000 | -0.8 | 0 |
| First-time buyer | £465,000 | -0.6 | 0.2 |
| Former owner occupier | £616,000 | -1.9 | -1 |
Building status for London
| Building status* | Average price | ||
|---|---|---|---|
| July 2023 | Annual price change % since July 2023 | Monthly price change % since June 2023 | |
| New build | £594,000 | 11.6 | 1.2 |
| Existing resold property | £531,000 | -1.6 | 1.6 |
*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 0.9% since August 2023. An annual price fall of 2.7% takes the average property value to £215,000.
There were 2 repossession sales for Wales in June 2023.
Average price by property type for Wales
| Property type | Sep 2023 | Sep 2022 | Difference % |
|---|---|---|---|
| Detached | £333,000 | £338,000 | -1.3 |
| Semi-detached |
Channel website: https://www.gov.uk/government/organisations/land-registry
Original article link: https://www.gov.uk/government/news/uk-house-price-index-for-september-2023 Share this article
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