HM Land Registry: UK House Price Index July 2018

HM Land Registry: The July data shows, on average, house prices have risen by 1.2% since June 2018; there has been an annual price rise of 3.1%, which makes the average property in the UK valued at £231,422.

England

In England, the July data shows on average, house prices have risen by 1.2% since June 2018. The annual price rise of 3% takes the average property value to £248,611.

The regional data for England indicates that:
  • the North West experienced the greatest monthly price rise, up by 3.4%;
  • the East Midlands saw the most significant monthly price fall, down by 0.2%; and
  • London saw the greatest annual price fall, down by 0.7%

 

Price change by region for England

Region Average price July 2018 Monthly change % since June 2018
East Midlands £188,716 -0.2
East of England £294,603 1.3
London £484,926 0.6
North East £131,505 2.6
North West £165,529 3.4
South East £327,002 0.4
South West £259,971 2.4
West Midlands £195,447 0.6
Yorkshire and the Humber £161,712 0.4

 

Repossession sales by volume for England

The lowest number of repossession sales in May 2018 was in the East of England.

The highest number of repossession sales in May 2018 was in the North West.

Repossession sales May 2018
East Midlands 42
East of England 13
London 46
North East 104
North West 150
South East 51
South West 40
West Midlands 63
Yorkshire and the Humber 90
England 599

 

Average price by property type for England

Property type July 2018 July 2017 Difference %
Detached £378,473 £361,493 4.7
Semi-detached £230,284 £222,914 3.3
Terraced £200,889 £194,396 3.3
Flat/maisonette £230,603 £230,482 0.1
All £248,611 £241,406 3.0

 

Funding and buyer status for England

Transaction type Average price

July 2018 

Annual price change % since July 2017 Monthly price change %since June 2018
Cash £234,732 3.2 1.6
Mortgage £255,602 2.9 1.1
First-time buyer £208,378 2.5 1.1
Former owner occupier £282,435 3.4 1.3

 

Building status for England

Building status* Average price

May 2018 

Annual price change % since May 2017 Monthly price change % since

April 2018

New build £306,514 5.7 1.3
Existing resold property £240,225 3.1 0.7

*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 16.1% to 58,073 compared with 69,176 in May 2017

Month Sales 2018 Sales 2017 Difference %
April 54,466 62,318 -12.6
May 58,073 69,176 -16.1

 

London

London shows, on average, house prices have risen by 0.6% since June 2018. An annual price fall of 0.7% takes the average property value to £484,926.

Average price by property type for London

Property type July 2018 July 2017 Difference %
Detached £929,854 £903,023 3.0
Semi-detached £584,546 £582,307 0.4
Terraced £502,363 £499,705 0.5
Flat/maisonette £426,731 £434,837 -1.9
All £484,926 £488,527 -0.7

 

Funding and buyer status for London

Transaction type Average price

July 2018 

Annual price change % since July 2017 Monthly price change %since June 2018
Cash £512,115 -0.5 1.6
Mortgage £476,645 -0.8 0.3
First-time buyer £423,730 -1.2 0.6
Former owner occupier £548,046 -0.2 0.6

 

Building status for London

Building status* Average price May 2018  Annual price change % since May 2017 Monthly price change % since April 2018
New build £506,128 2.9 1.1
Existing resold property £478,313 -0.3 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 May 2018 fell by 25.6% to 5,861 compared with 7,874 in May 2017.
Month Sales 2018 Sales 2017 Difference %
April 5,934 7,120 -16.7
May 5,861 7,874 -25.6

 

Wales

Wales shows, on average, house prices have fallen by 0.2% since June 2018. An annual price rise of 4.2% takes the average property value to £157,368.

Average price by property type for Wales

Property type July 2018 July 2017 Difference %
Detached £240,704 £226,982 6.0
Semi-detached £150,370 £145,234 3.5
Terraced £121,100 £116,835 3.7
Flat/maisonette £112,941 £110,704 2.0
All £157,368 £151,028 4.2

 

Funding and buyer status for Wales

Transaction type Average price July 2018  Annual price change % since July 2017 Monthly price change %since June 2018
Cash £154,022 4.5 0.5
Mortgage £159,349 4.0 -0.6
First-time buyer £135,390 3.6 -0.5
Former owner occupier £183,161 4.9 0.2

 

Building status for Wales

Building status* Average price May 2018  Annual price change % since May 2017 Monthly price change % since April 2018
New build £208,490 8.7 1.3
Existing resold property £151,817 4.9 0.7

*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 May 2018 fell by 14.4% to 3,368 compared with 3,933 in April 2017; and
  • there were 44 repossession sales in May 2018.
Month Sales 2018 Sales 2017 Difference %
April 3,166 3,490 -9.3
May 3,368 3,933 -14.4

Access the full UK HPI

UK house prices rose by 3.1% in the year to July 2018, down from 3.2% in the year to June 2018. This is the lowest UK annual rate since August 2013 when it was 3.0%.

The UK Property Transaction Statistics for July 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 99,270. This is 3.2% lower compared with a year ago. Between June and July 2018, transactions fell by 0.8%.

House prices grew fastest in the North West region, increasing by 5.6% in the year to July 2018, followed by the South West and the West Midlands, both increasing by 4.4% over the year. House prices in London fell by 0.7% in the year to July 2018, down from an increase of 0.3% in the previous month.

See the economic statement.

 

Kindly shared by HM Land Registry