UK House Price Index for January 2021

24 Mar 2021 10:13 AM

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

In the past 12 months all those involved in the property market have been affected by coronavirus (COVID-19); HM Land Registry is no different and, as a result, this release of the UK House Price Index is not as complete as it could be.

The data is accurate. However, this release may be subject to increased revisions as we add more data over the coming months. See Reducing delays for more information.

The January data shows:

  • on average, house prices have fallen 0.5% since December 2020
  • there has been an annual price rise of 7.5% which makes the average property in the UK valued at £249,309

England

In England the January data shows, on average, house prices have fallen by 0.6% since December 2020. The annual price rise of 7.5% takes the average property value to £266,532.

The regional data for England indicates the:

Price change by region for England

Region Average price January 2021 Annual change % since January 2020 Monthly change % since December 2020
East Midlands £209,927 7.6 -1.2
East of England £310,639 7.5 0.7
London £501,320 5.3 0.1
North East £138,151 8.5 -1.3
North West £184,234 12.0 0.7
South East £342,420 6.4 0.1
South West £274,648 6.7 -1.8
West Midlands £210,454 4.7 -2.3
Yorkshire and the Humber £179,248 8.9 -1.4

Repossession sales by volume for England

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

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

Repossession sales November 2020
East Midlands 17
East of England 11
London 28
North East 41
North West 54
South East 30
South West 17
West Midlands 16
Yorkshire and the Humber      33
England 247

Average price by property type for England

Property type January 2021       January 2020       Difference %
Detached £409,290 £376,422 8.7
Semi-detached £255,015 £233,645 9.1
Terraced £217,520 £200,819 8.3
Flat/maisonette       £228,471 £223,969 2.0
All £266,532 £247,898 7.5

Funding and buyer status for England

Transaction type Average price January 2021 Annual price change % since January 2020 Monthly price change % since December 2020
Cash £250,160 7.5 -0.9
Mortgage £274,742 7.5 -0.5
First-time buyer £221,743 6.7 -0.8
Former owner occupier £304,982 8.3 -0.3

Building status for England

Building status* Average price November 2020 Annual price change % since November 2019 Monthly price change % since October 2020
New build £320,918 9.1 -0.7
Existing resold property £261,924 6.8 1.4

*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 0.1% since December 2020. An annual price rise of 5.3% takes the average property value to £501,320.

Average price by property type for London

Property type January 2021       January 2020      Difference %
Detached £978,289 £892,166 9.7
Semi-detached £640,224 £580,151 10.4
Terraced £545,947 £498,319 9.6
Flat/maisonette       £422,557 £416,550 1.4
All £501,320 £475,948 5.3

Funding and buyer status for London

Transaction type Average price January 2021 Annual price change % since January 2020 Monthly price change % since December 2020
Cash £517,686 3.7 -0.2
Mortgage £495,701 5.7 0.2
First-time buyer £433,631 4.2 -0.3
Former owner occupier £574,587 6.9 0.7

Building status for London

Building status* Average price November 2020 Annual price change % since November 2019 Monthly price change % since October 2020
New build £499,386 7.8 -0.2
Existing resold property £502,829 6.9 2.2

*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 1.9% since December 2020. An annual price rise of 9.6% takes the average property value to £178,907.

There were 24 repossession sales for Wales in November 2020.

Average price by property type for Wales

Property type January 2021      January 2020      Difference %
Detached £274,858 £246,545 11.5
Semi-detached £175,235 £158,726 10.4
Terraced £136,474 £125,708 8.6
Flat/maisonette      £119,527 £114,648 4.3
All £178,907 £163,205 9.6

Funding and buyer status for Wales

Transaction type Average price January 2021 Annual price change % since January 2020 Monthly price change %since December 2020
Cash £174,027 10.3 -2.0
Mortgage £181,854 9.3 -1.8
First-time buyer £153,083 8.7 -2.5
Former owner occupier