HM Land Registry: UK House Price Index September 2018
The September data shows, on average, house prices have not changed since August 2018, but there has been an annual price rise of 3.5%, which makes the average property in the UK valued at £232,554.
England
In England, the September data shows on average, house prices have not changed since August 2018. The annual price rise of 3.0% takes the average property value to £249,408.
The regional data for England indicates that:
- the East Midlands and West Midlands both experienced the greatest monthly price rise, up by 1.1%;
- Yorkshire and the Humber saw the most significant monthly price fall, down by 1.1%;
- the West Midlands experienced the greatest annual price rise, up by 6.1; and
- London saw the lowest annual price increase, down by 0.3%
Price change by region for England
| Region | Average price September 2018 | Monthly change % since August 2018 |
| East Midlands | £194,803 | 1.1 |
| East of England | £294,027 | -0.1 |
| London | £482,241 | -0.4 |
| North East | £132,049 | 0.8 |
| North West | £162,915 | -0.8 |
| South East | £328,059 | -0.2 |
| South West | £260,142 | 0.3 |
| West Midlands | £199,763 | 1.1 |
| Yorkshire and the Humber | £162,009 | -1.1 |
Repossession sales by volume for England
The lowest number of repossession sales in July 2018 was in the East of England.
The highest number of repossession sales in July 2018 was in the North West.
| Repossession sales | July 2018 |
| East Midlands | 43 |
| East of England | 10 |
| London | 38 |
| North East | 80 |
| North West | 127 |
| South East | 69 |
| South West | 31 |
| West Midlands | 50 |
| Yorkshire and the Humber | 64 |
| England | 512 |
Average price by property type for England
| Property type
|
September 2018 | September 2017 | Difference % |
| Detached | £382,714 | £365,228 | 4.8 |
| Semi-detached | £233,050 | £223,502 | 4.3 |
| Terraced | £201,818 | £195,140 | 3.4 |
| Flat/maisonette | £225,757 | £228,595 | -1.2 |
| All | £249,408 | £242,041 | 3.0 |
Funding and buyer status for England
| Transaction type | Average price
September 2018 |
Annual price change % since September 2017 | Monthly price change %since August 2018 |
| Cash | £234,743 | 3.0 | -0.1 |
| Mortgage | £256,801 | 3.1 | 0.0 |
| First-time buyer | £208,497 | 2.5 | -0.4 |
| Former owner occupier | £284,022 | 3.6 | 0.3 |
Building status for England
| Building status* | Average price
July 2018 |
Annual price change % since July 2017 | Monthly price change % since
June 2018 |
| New build | £308,859 | 5.2 | 2.5 |
| Existing resold property | £244,482 | 2.8 | 1.2 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices have fallen by 0.4% since August 2018. An annual price fall of 0.3% takes the average property value to £482,241.
Average price by property type for London
| Property type
|
September 2018 | September 2017 | Difference % |
| Detached | £943,905 | £913,220 | 3.4 |
| Semi-detached | £598,120 | £578,519 | 3.4 |
| Terraced | £504,774 | £496,318 | 1.7 |
| Flat/maisonette | £418,919 | £428,892 | -2.3 |
| All | £482,241 | £483,833 | -0.3 |
Funding and buyer status for London
| Transaction type | Average price
September 2018 |
Annual price change % since September 2017 | Monthly price change %since August 2018 |
| Cash | £507,955 | 0.0 | -0.4 |
| Mortgage | £474,396 | -0.4 | -0.3 |
| First-time buyer | £419,925 | -1.0 | -0.7 |
| Former owner occupier | £547,515 | 0.5 | 0.1 |
Building status for London
| Building status* | Average price July 2018 | Annual price change % since July 2017 | Monthly price change % since June 2018 |
| New build | £503,215 | 1.4 | 1.8 |
| Existing resold property | £484,584 | -0.7 | 1.1 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Wales
Wales shows, on average, house prices have risen by 0.5% since August 2018. An annual price rise of 5.8% takes the average property value to £162,089.
There were 62 repossession sales for Wales in July 2018.
Average price by property type for Wales
| Property type | September 2018 | September 2017 | Difference % |
| Detached | £247,289 | £231,555 | 6.8 |
| Semi-detached | £156,185 | £147,039 | 6.2 |
| Terraced | £125,360 | £118,443 | 5.8 |
| Flat/maisonette | £111,678 | £111,226 | 0.4 |
| All | £162,089 | £153,227 | 5.8 |
Funding and buyer status for Wales
| Transaction type | Average price September 2018 | Annual price change % since September 2017 | Monthly price change %since August 2018 |
| Cash | £157,510 | 5.4 | 0.6 |
| Mortgage | £164,805 | 6.0 | 0.4 |
| First-time buyer | £139,661 | 5.5 | 0.2 |
| Former owner occupier | £188,343 | 6.0 | 0.8 |
Building status for Wales
| Building status* | Average price July 2018 | Annual price change % since July 2017 | Monthly price change % since June 2018 |
| New build | £212,902 | 9.4 | 2.5 |
| Existing resold property | £155,711 | 5.0 | 1.1 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
UK house prices rose by 3.5% in the year to September 2018, up from 3.1% in the year to August 2018.
The UK Property Transaction Statistics for September 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 98,400. This is 2.7% lower compared to a year ago. Between August and September 2018, transactions fell by 0.5%.
House prices grew fastest in the West Midlands region increasing by 6.1% in the year to September 2018, followed by the East Midlands region which increased by 6.0% over the year. House prices in London fell by 0.3% in the year to September 2018. London house price have been falling over the year since March 2018.
See the economic statement.
Kindly shared by HM Land Registry
