UK House Price Index for June 2023
16 Aug 2023 09:58 AM
The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.
The June data shows:
- on average, house prices have risen 0.7% since May 2023
- there has been an annual price rise of 1.7% which makes the average property in the UK valued at £287,546
England
In England, the June data shows that, on average, house prices have risen 0.9% since May 2023. The annual price rise of 1.9% takes the average property value to £306,447.
The regional data for England indicates that:
- Yorkshire and the Humber experienced the greatest monthly price rise with an increase of 2.1%
- the South West saw the most significant monthly price fall, with a movement of -0.5%
- the North East experienced the greatest annual price rise, up by 4.7%
- London saw the lowest annual price growth, with an increase of -0.6%
Price change by region for England
| Region |
Average price June 2023 |
Annual change % since June 2022 |
Monthly change % since May 2023 |
| East Midlands |
£248,678 |
2.4 |
1.3 |
| East of England |
£351,213 |
1.1 |
1.3 |
| London |
£527,979 |
-0.6 |
0.5 |
| North East |
£161,034 |
4.7 |
1.8 |
| North West |
£215,631 |
3.5 |
1.2 |
| South East |
£391,406 |
1.3 |
0.6 |
| South West |
£321,152 |
0.5 |
-0.5 |
| West Midlands |
£250,743 |
3.2 |
0.7 |
| Yorkshire and the Humber |
£208,867 |
2.7 |
2.1 |
Repossession sales by volume for England
The lowest number of repossession sales in April 2023 was in the East of England.
The highest number of repossession sales in April 2023 was in the North West.
| Repossession sales |
April 2023 |
| East Midlands |
7 |
| East of England |
3 |
| London |
10 |
| North East |
12 |
| North West |
14 |
| South East |
13 |
| South West |
4 |
| West Midlands |
8 |
| Yorkshire and the Humber |
7 |
| England |
78 |
Average price by property type for England
| Property type |
June 2023 |
June 2022 |
Difference % |
| Detached |
£480,620 |
£468,757 |
2.5 |
| Semi-detached |
£294,636 |
£287,750 |
2.4 |
| Terraced |
£249,817 |
£247,600 |
0.9 |
| Flat/maisonette |
£251,375 |
£248,621 |
1.1 |
| All |
£306,447 |
£300,843 |
1.9 |
Funding and buyer status for England
| Transaction type |
Average price June 2023 |
Annual price change % since June 2022 |
Monthly price change % since May 2023 |
| Cash |
£287,350 |
1.9 |
1.0 |
| Mortgage |
£315,986 |
1.8 |
0.9 |
| First-time buyer |
£254,458 |
1.7 |
1.0 |
| Former owner occupier |
£351,117 |
1.9 |
0.8 |
Building status for England
| Building status |
Average price April 2023 |
Annual price change % since April 2022 |
Monthly price change % since March 2023 |
| New build |
£436,403 |
20.8 |
0.9 |
| Existing resold property |
£296,620 |
2.4 |
0.4 |
London
London shows, on average, house prices have risen 0.5% since May 2023. An annual price fall of 0.6% takes the average property value to £527,979.
Average price by property type for London
| Property type |
June 2023 |
June 2022 |
Difference % |
| Detached |
£1,068,225 |
£1,079,524 |
-1.0 |
| Semi-detached |
£684,151 |
£687,255 |
-0.5 |
| Terraced |
£573,988 |
£584,514 |
-1.8 |
| Flat/maisonette |
£440,235 |
£439,811 |
0.1 |
| All |
£527,979 |
£531,219 |
-0.6 |
Funding and buyer status for London
| Transaction type |
Average price June 2023 |
Annual price change % since June 2022 |
Monthly price change % since May 2023 |
| Cash |
£547,925 |
-0.4 |
0.5 |
| Mortgage |
£521,411 |
-0.7 |
0.5 |
| First-time buyer |
£455,286 |
-0.5 |
0.5 |
| Former owner occupier |
£607,111 |
-0.8 |
0.5 |
Building status for London
| Building status |
Average price April 2023 |
Annual price change % since April 2022 |
Monthly price change % since March 2023 |
| New build |
£607,722 |
18.0 |
2.2 |
| Existing resold property |
£527,949 |
1.1 |
1.9 |
Wales
Wales shows, on average, house prices have risen by 0.2% since May 2023. An annual price rise of 0.6% takes the average property value to £213,477.
There were 6 repossession sales for Wales in April 2023.
Average price by property type for Wales
| Property type |
June 2023 |
June 2022 |
Difference % |
| Detached |
£325,991 |
£322,138 |
1.2 |
| Semi-detached |
£208,067 |
£206,049 |
1.0 |
| Terraced |
£166,517 |
£167,135 |
-0.4 |