February 2018 UK House Price Index from HM Land Registry
The February HPI data shows, on average, house prices have fallen by 0.1% since January 2018. There has been an annual price rise of 4.4%, which makes the average property in the UK valued at £225,047.
England
In England, the February data shows on average, house prices have risen by 0.2% since January 2018. The annual price rise of 4.1% takes the average property value to £242,176.
The regional data for England indicates that:
- the North East experienced the greatest monthly price rise, up by 3.1%; and
- London saw the most significant monthly price fall, down by 2.1%.
Price change by region for England
| Region | Average price February 2018 | Monthly change % since January 2018 |
| East Midlands | £186,071 | 0.5 |
| East of England | £288,468 | -0.4 |
| London | £471,986 | -2.1 |
| North East | £128,218 | 3.1 |
| North West | £158,152 | 1.6 |
| South East | £322,489 | -0.1 |
| South West | £250,816 | -1.1 |
| West Midlands | £192,648 | 2.2 |
| Yorkshire and the Humber | £155,385 | -0.1 |
Repossession sales by volume for England
The lowest number of repossession sales in December 2017 was in the East of England.
The highest number of repossession sales in December 2017 was in the North West.
| Repossession sales | December 2017 |
| East Midlands | 57 |
| East of England | 14 |
| London | 27 |
| North East | 90 |
| North West | 127 |
| South East | 48 |
| South West | 37 |
| West Midlands | 53 |
| Yorkshire and the Humber | 78 |
| England | 531 |
Average price by property type for England
| Property type
|
February 2018 | February 2017 | Difference % |
| Detached | £368,478 | £349,569 | 5.4 |
| Semi-detached | £224,171 | £213,593 | 5.0 |
| Terraced | £195,406 | £186,974 | 4.5 |
| Flat/maisonette | £225,498 | £223,873 | 0.7 |
| All | £242,176 | £232,696 | 4.1 |
Funding and buyer status for England
| Transaction type | Average price February 2018 | Annual price change % since February 2017 | Monthly price change % since December 2017 |
| Cash | £228,036 | 3.9 | 0.3 |
| Mortgage | £249,299 | 4.2 | 0.2 |
| First-time buyer | £203,417 | 3.7 | 0.3 |
| Former owner occupier | £274,567 | 4.4 | 0.1 |
Building status for England
| Building status* | Average price December 2017 | Annual price change % since December 2016 | Monthly price change % since November 2017 |
| New build | £307,378 | 8.5 | 3.3 |
| Existing resold property | £239,015 | 4.6 | 0.5 |
*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 December 2017 fell by 21.2% to 62,697 compared with 79,605 in December 2016.
| Month | Sales 2017 | Sales 2016 | Difference % |
| November | 69,963 | 74,097 | -5.6 |
| December | 62,697 | 79,605 | -21.2 |
London
London shows, on average, house prices have fallen by 2.1% since January 2018. An annual price fall of 1% takes the average property value to £471,986.
Average price by property type for London
| Property type
|
February 2018 | February 2017 | Difference % |
| Detached | £915,162 | £887,959 | 3.1 |
| Semi-detached | £578,708 | £563,242 | 2.7 |
| Terraced | £489,639 | £482,631 | 1.5 |
| Flat/maisonette | £412,902 | £427,256 | -3.4 |
| All | £471,986 | £476,717 | -1.0 |
Funding and buyer status for London
| Transaction type | Average price February 2018 | Annual price change % since February 2017 | Monthly price change % since January 2018 |
| Cash | £494,312 | -2.2 | -3.2 |
| Mortgage | £465,147 | -0.6 | -1.7 |
| First-time buyer | £412,482 | -1.5 | -2.2 |
| Former owner occupier | £533,159 | -0.4 | -2.0 |
Building status for London
| Building status* | Average price December 2017 | Annual price change % since December 2016 | Monthly price change % since November 2017 |
| New build | £505,112 | 5.2 | 3.1 |
| Existing resold property | £479,296 | 1.6 | 0.5 |
*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 December 2017 fell by 25% to 6,344 compared with 8,460 in December 2016.
| Month | Sales 2017 | Sales 2016 | Difference % |
| November | 6,834 | 8,178 | -16.4 |
| December | 6,344 | 8,460 | -25.0 |
Wales
Wales shows, on average, house prices have fallen by 0.4% since January 2018. An annual price rise of 4.8% takes the average property value to £152,891.
Average price by property type for Wales
| Property type | February 2018 | February 2017 | Difference % |
| Detached | £232,078 | £220,848 | 5.1 |
| Semi-detached | £146,772 | £139,526 | 5.2 |
| Terraced | £117,459 | £112,204 | 4.7 |
| Flat/maisonette | £111,880 | £108,273 | 3.3 |
| All | £152,891 | £145,837 | 4.8 |
Funding and buyer status for Wales
| Transaction type | Average price February 2018 | Annual price change % since February 2017 | Monthly price change % since January 2018 |
| Cash | £149,073 | 4.6 | -0.1 |
| Mortgage | £155,154 | 5.0 | -0.5 |
| First-time buyer | £131,805 | 4.7 | -0.3 |
| Former owner occupier | £177,546 | 5.0 | -0.5 |
Building status for Wales
| Building status* | Average price December 2017 | Annual price change % since December 2016 | Monthly price change % since November 2017 |
| New build | £207,355 | 8.7 | 3.0 |
| Existing resold property | £150,326 | 4.5 | 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 Wales
The most up-to-date HM Land Registry sales figures available for Wales show:
the number of completed house sales in December 2017 fell by 14.3% to 3,927 compared with 4,581 in December 2016; and
there were 50 repossession sales in December 2017.
| Month | Sales 2017 | Sales 2016 | Difference % |
| November | 4,112 | 4,084 | 0.7 |
| December | 3,927 | 4,581 | -14.3 |
UK house prices grew by 4.4% in the year to February 2018, down from 4.7% in the year to January 2018.
The UK Property Transaction Statistics for February 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater is 0.7% lower compared to a year ago. Between January 2018 and February 2018, transactions decreased by 0.3%.
Looking at the regional level, the West Midlands showed the highest annual growth, with prices increasing by 7.3% in the year to February 2018. The lowest annual growth was in London, where prices decreased by 1.0% over the year. This is the lowest annual growth in London since September 2009 when it was negative 3.2%. London has shown a general slowdown in its annual growth rate since mid-2016.
See the economic statement.
Kindly shared by HM Land Registry
