Land Registry: UK House Price Index November 2017
The November data shows, on average, house prices have risen by 0.1% since October 2017. There has been an annual price rise of 5.1%, which makes the average property in the UK valued at £226,071.
England
In England, the November data shows on average, house prices have risen by 0.1% since October 2017. The annual price rise of 5.3% takes the average property value to £243,339.
The regional data for England indicates that:
- the West Midlands experienced the greatest rise in average property price over the last 12 months, up by 7.2%;
- the North West experienced the greatest monthly price rise, up by 1.4%;
- the North East and London saw the lowest annual price rise, both up by 2.3%; and
- the North East saw the most significant monthly price fall, down by 1%.
Price change by region for England
| Region | Average price November 2017 | Annual change % since November 2016 | Monthly change % since October 2017 |
| East Midlands | £185,047 | 6.4 | 0.2 |
| East of England | £289,731 | 6.0 | -0.2 |
| London | £481,915 | 2.3 | -0.9 |
| North East | £127,737 | 2.3 | -1.0 |
| North West | £159,066 | 6.2 | 1.4 |
| South East | £325,270 | 5.7 | 0.3 |
| South West | £251,923 | 6.2 | -0.5 |
| West Midlands | £192,119 | 7.2 | 1.3 |
| Yorkshire and the Humber | £155,778 | 3.0 | -0.8 |
Repossession sales by volume for England
The lowest number of repossession sales in September 2017 was in the East of England.
| Repossession sales | September 2017 |
| East Midlands | 48 |
| East of England | 13 |
| London | 23 |
| North East | 76 |
| North West | 140 |
| South East | 55 |
| South West | 25 |
| West Midlands | 63 |
| Yorkshire and the Humber | 88 |
| England | 531 |
Average price by property type for England
| Property type
|
November 2017 | November 2016 | Difference % |
| Detached | £369,380 | £349,672 | 5.6 |
| Semi-detached | £226,228 | £213,385 | 6.0 |
| Terraced | £195,956 | £185,434 | 5.7 |
| Flat/maisonette | £226,501 | £218,906 | 3.5 |
| All | £243,339 | £231,053 | 5.3 |
Funding and buyer status for England
| Transaction type | Average price November 2017 | Annual price change % since November 2016 | Monthly price change % since October 2017 |
| Cash | £228,889 | 5.2 | 0.0 |
| Mortgage | £250,620 | 5.4 | 0.1 |
| First-time buyer | £204,494 | 5.3 | 0.3 |
| Former owner occupier | £275,792 | 5.3 | -0.1 |
Building status for England
| Building status* | Average price September 2017 | Annual price change % since September 2016 | Monthly price change % since August 2017 |
| New build | £310,878 | 11.9 | 0.3 |
| Existing resold property | £238,556 | 4.8 | -0.1 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Sales volumes for England
The most up-to-date HM Land Registry sales figures available for England show:
- the number of completed house sales in September 2017 fell by 14.8% to 64,812 compared with 76,114 in September 2016.
| Month | Sales 2017 | Sales 2016 | Difference % |
| August | 74,189 | 79,655 | -6.9 |
| September | 64,812 | 76,114 | -14.8 |
London
London shows, on average, house prices have fallen by 0.9% since October 2017. An annual price rise of 2.3% takes the average property value to £481,915.
Average price by property type for London
| Property type
|
November 2017 | November 2016 | Difference % |
| Detached | £919,354 | £886,553 | 3.7 |
| Semi-detached | £583,283 | £562,093 | 3.8 |
| Terraced | £495,903 | £480,836 | 3.1 |
| Flat/maisonette | £424,766 | £418,660 | 1.5 |
| All | £481,915 | £470,854 | 2.3 |
Funding and buyer status for London
| Transaction type | Average price November 2017 | Annual price change % since November 2016 | Monthly price change % since October 2017 |
| Cash | £506,946 | 1.9 | -1.3 |
| Mortgage | £474,145 | 2.5 | -0.8 |
| First-time buyer | £421,781 | 2.3 | -0.7 |
| Former owner occupier | £543,383 | 2.4 | -1.2 |
Building status for London
| Building status* | Average price September 2017 | Annual price change % since September 2016 | Monthly price change % since August 2017 |
| New build | £521,920 | 10.2 | 0.9 |
| Existing resold property | £485,338 | 2.9 | -0.2 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Sales volumes for London
The most up-to-date HM Land Registry sales figures available for London show:
- the number of completed house sales in September 2017 fell by 21.5% to 6,494 compared with 8,275 in September 2016.
| Month | Sales 2017 | Sales 2016 | Difference % |
| August | 7,802 | 8,535 | -8.6 |
| September | 6,494 | 8,275 | -21.5 |
Wales
Wales shows, on average, house prices have fallen by 0.7% since October 2017. An annual price rise of 4.5% takes the average property value to £152,855.
Average price by property type for Wales
| Property type | November 2017 | November 2016 | Difference % |
| Detached | £231,696 | £222,255 | 4.2 |
| Semi-detached | £147,643 | £140,306 | 5.2 |
| Terraced | £117,939 | £112,457 | 4.9 |
| Flat/maisonette | £107,952 | £106,699 | 1.2 |
| All | £152,855 | £146,278 | 4.5 |
Funding and buyer status for Wales
| Transaction type | Average price November 2017 | Annual price change % since November 2016 | Monthly price change % since October 2017 |
| Cash | £148,829 | 4.0 | -0.7 |
| Mortgage | £155,246 | 4.8 | -0.7 |
| First-time buyer | £132,177 | 4.7 | -0.4 |
| Former owner occupier | £176,931 | 4.3 | -1.0 |
Building status for Wales
| Building status* | Average price September 2017 | Annual price change % since September 2016 | Monthly price change % since August 2017 |
| New build | £208,793 | 13.3 | 0.5 |
| Existing resold property | £149,773 | 5.0 | 0.4 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Sales volumes for Wales
The most up-to-date HM Land Registry sales figures available for Wales show:
- the number of completed house sales in September 2017 fell by 6.6% to 3,786 compared with 4,054 in September 2016; and
- there were 60 repossession sales in September 2017.
| Month | Sales 2017 | Sales 2016 | Difference % |
| August | 4,190 | 4,122 | 1.6 |
| September | 3,786 | 4,054 | -6.6 |
UK house prices grew by 5.1% in the year to November 2017, experiencing a 0.3 percentage point fall from the previous month.
The UK Property Transaction Statistics for November 2017 showed that the number of seasonally adjusted transactions on residential properties with a value of £40,000 or greater rose by 7.1% in the year to November 2017. Between October 2017 and November 2017, transactions increased by 0.6%.
Looking at the regional level, the largest annual price growth was recorded in the West Midlands at 7.2%, up from 7.1% in October 2017. It was followed by the East Midlands at 6.4%. At 2.3%, both London and the North East region showed the slowest annual growth of all UK regions. This is the 12th consecutive month where the annual growth in London has remained below the UK average.
See the economic statement.
Kindly shared by HM Land Registry
