HM Land Registry: UK House Price Index June 2018
The June data shows from HM Land Registry, on average, house prices have risen by 0.4% since May 2018. There has been an annual price rise of 3%, which makes the average property in the UK valued at £228,384.
England
In England, the June data shows on average, house prices have risen by 0.3% since May 2018. The annual price rise of 2.7% takes the average property value to £245,076.
The regional data for England indicates that:
- West Midlands experienced the greatest monthly price rise, up by 1.9%;
- the North East saw the most significant monthly price fall, down by 1.9%; and
- London saw the lowest annual price increase, down by 0.7%
Price change by region for England
| Region | Average price June 2018 | Monthly change % since May 2018 |
| East Midlands | £187,553 | -0.5 |
| East of England | £292,632 | 1.0 |
| London | £476,752 | -0.6 |
| North East | £127,271 | -1.9 |
| North West | £159,801 | 0.5 |
| South East | £325,107 | 0.6 |
| South West | £252,558 | -0.5 |
| West Midlands | £196,015 | 1.9 |
| Yorkshire and the Humber | £160,727 | 0.9 |
Repossession sales by volume for England
The lowest number of repossession sales in April 2018 was in the East of England.
The highest number of repossession sales in April 2018 was in the North West.
| Repossession sales | April 2018 |
| East Midlands | 45 |
| East of England | 9 |
| London | 37 |
| North East | 64 |
| North West | 120 |
| South East | 45 |
| South West | 42 |
| West Midlands | 40 |
| Yorkshire and the Humber | 68 |
| England | 470 |
Average price by property type for England
| Property type
|
June 2018 | June 2017 | Difference % |
| Detached | £367,947 | £357,220 | 3.0 |
| Semi-detached | £229,360 | £220,112 | 4.2 |
| Terraced | £198,836 | £192,410 | 3.3 |
| Flat/maisonette | £226,638 | £227,646 | -0.4 |
| All | £245,076 | £238,595 | 2.7 |
Funding and buyer status for England
| Transaction type | Average price
June 2018 |
Annual price change % since June 2017 | Monthly price change %since May 2018 |
| Cash | £230,065 | 2.4 | 0.0 |
| Mortgage | £252,647 | 2.9 | 0.4 |
| First-time buyer | £206,005 | 2.5 | 0.5 |
| Former owner occupier | £277,690 | 2.9 | 0.1 |
Building status for England
| Building status* | Average price
April 2018 |
Annual price change % since April 2017 | Monthly price change % since
March 2018 |
| New build | £310,029 | 7.8 | 3.9 |
| Existing resold property | £238,785 | 3.2 | 0.9 |
*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 England fell by 19.3 per cent to 50,308 compared with 62,318 in April 2017
| Month | Sales 2018 | Sales 2017 | Difference % |
| March | 62,237 | 74,386 | -16.3 |
| April | 50,308 | 62,318 | -19.3 |
London
London shows, on average, house prices have fallen by 0.6% since May 2018. An annual price fall of 0.7% takes the average property value to £476,752.
Average price by property type for London
| Property type
|
June 2018 | June 2017 | Difference % |
| Detached | £909,473 | £890,539 | 2.1 |
| Semi-detached | £588,852 | £569,116 | 3.5 |
| Terraced | £496,983 | £490,877 | 1.2 |
| Flat/maisonette | £416,101 | £428,001 | -2.8 |
| All | £476,752 | £480,152 | -0.7 |
Funding and buyer status for London
| Transaction type | Average price
June 2018 |
Annual price change % since June 2017 | Monthly price change %since May 2018 |
| Cash | £495,907 | -1.7 | -1.2 |
| Mortgage | £470,879 | -0.4 | -0.4 |
| First-time buyer | £417,193 | -1.1 | -0.6 |
| Former owner occupier | £537,783 | -0.2 | -0.7 |
Building status for London
| Building status* | Average price April 2018 | Annual price change % since April 2017 | Monthly price change % since March 2018 |
| New build | £512,049 | 3.9 | 4.3 |
| Existing resold property | £477,123 | -0.3 | 1.3 |
*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 April 2018 fell by 26% to 5,272 compared with 7,120 in April 2017.
| Month | Sales 2018 | Sales 2017 | Difference % |
| March | 6,685 | 8,659 | -22.8 |
| April | 5,272 | 7,120 | -26.0 |
Wales
Wales shows, on average, house prices have risen by 1.7% since May 2018. An annual price rise of 4.3% takes the average property value to £156,886.
Average price by property type for Wales
| Property type | June 2018 | June 2017 | Difference % |
| Detached | £234,339 | £225,439 | 3.9 |
| Semi-detached | £151,991 | £143,947 | 5.6 |
| Terraced | £121,586 | £116,907 | 4.0 |
| Flat/maisonette | £114,043 | £110,994 | 2.7 |
| All | £156,886 | £150,394 | 4.3 |
Funding and buyer status for Wales
| Transaction type | Average price June 2018 | Annual price change % since June 2017 | Monthly price change %since May 2018 |
| Cash | £152,601 | 4.0 | 1.8 |
| Mortgage | £159,428 | 4.5 | 1.6 |
| First-time buyer | £135,691 | 4.2 | 1.9 |
| Former owner occupier | £181,538 | 4.4 | 1.4 |
Building status for Wales
| Building status* | Average price April 2018 | Annual price change % since April 2017 | Monthly price change % since March 2018 |
| New build | £210,429 | 7.9 | 2.1 |
| Existing resold property | £150,819 | 2.5 | -0.3 |
*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 April 2018 fell by 13.9% to 3,005 compared with 3,490 in April 2017; and
- there were 54 repossession sales in April 2018.
| Month | Sales 2018 | Sales 2017 | Difference % |
| March | 3,547 | 3,909 | -9.3 |
| April | 3,005 | 3,490 | -13.9 |
UK house prices rose by 3.0% in the year to June 2018, down from 3.5% in the year to May 2018. This is the lowest UK annual rate since August 2013 when it was also 3.0%.
The UK Property Transaction Statistics for June 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 96,340. This is 5.7% lower compared to a year ago. Between May and June 2018, transactions decreased by 3.0%.
West Midlands was the fastest growing region with an annual growth rate of 5.8%, up from 5.0% in the previous month. London was the slowest growing region, falling by 0.7% in the year to June 2018, down from negative 0.2% in the previous month.
See the economic statement.
Kindly shared by HM Land Registry
