UK House Price Index April 2018
The April data shows, on average, house prices have risen by 1.2% since March 2018. There has been an annual price rise of 3.9%, which makes the average property in the UK valued at £226,906.
England
In England, the April data shows on average, house prices have risen by 1.1% since March 2018. The annual price rise of 3.7% takes the average property value to £243,639.
The regional data for England indicates that:
- the North East experienced the greatest monthly price rise, up by 4.2%;
- the East of England saw the most significant monthly price fall, down by 0.8%; and
- London saw the lowest annual price increase, up by 1%
Price change by region for England
| Region | Average price April 2018 | Monthly change % since March 2018 |
| East Midlands | £186,480 | 1.3 |
| East of England | £286,447 | -0.8 |
| London | £484,584 | 2.4 |
| North East | £130,489 | 4.2 |
| North West | £155,868 | 0.0 |
| South East | £324,530 | 0.9 |
| South West | £255,207 | 1.8 |
| West Midlands | £192,090 | 0.8 |
| Yorkshire and the Humber | £158,545 | 1.4 |
Repossession sales by volume for England
The lowest number of repossession sales in February 2018 was in the East of England.
The highest number of repossession sales in February 2018 was in the North West.
| Repossession sales | February 2018 |
| East Midlands | 42 |
| East of England | 13 |
| London | 32 |
| North East | 59 |
| North West | 138 |
| South East | 46 |
| South West | 50 |
| West Midlands | 61 |
| Yorkshire and the Humber | 89 |
| England | 530 |
Average price by property type for England
| Property type
|
April 2018 | April 2017 | Difference % |
| Detached | £367,142 | £354,228 | 3.6 |
| Semi-detached | £227,912 | £216,485 | 5.3 |
| Terraced | £197,349 | £188,856 | 4.5 |
| Flat/maisonette | £224,951 | £224,125 | 0.4 |
| All | £243,639 | £235,021 | 3.7 |
Funding and buyer status for England
| Transaction type | Average price
April 2018 |
Annual price change % since April 2017 | Monthly price change % since March 2018 |
| Cash | £228,934 | 3.4 | 0.9 |
| Mortgage | £251,053 | 3.8 | 1.1 |
| First-time buyer | £204,667 | 3.5 | 1.2 |
| Former owner occupier | £276,213 | 3.8 | 1.0 |
Building status for England
| Building status* | Average price February 2018 | Annual price change % since February 2017 | Monthly price change % since
January 2018 |
| New build | £314,179 | 9.3 | 5.2 |
| Existing resold property | £237,655 | 3.8 | 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 England
The most up-to-date HM Land Registry sales figures available for England show:
- the number of completed house sales in February 2018 fell by 15.4% to 51,340 compared with 60,662 in February 2017.
| Month | Sales 2018 | Sales 2017 | Difference % |
| January | 53,777 | 57,498 | -6.5 |
| February | 51,340 | 60,662 | -15.4 |
London
London shows, on average, house prices have risen by 2.4% since March 2018. An annual price rise of 1% takes the average property value to £484,584.
Average price by property type for London
| Property type
|
April 2018 | April 2017 | Difference % |
| Detached | £895,301 | £899,133 | -0.4 |
| Semi-detached | £592,142 | £567,701 | 4.3 |
| Terraced | £504,596 | £488,136 | 3.4 |
| Flat/maisonette | £425,045 | £428,541 | -0.8 |
| All | £484,584 | £479,790 | 1.0 |
Funding and buyer status for London
| Transaction type | Average price
April 2018 |
Annual price change % since April 2017 | Monthly price change % since March 2018 |
| Cash | £511,195 | 0.3 | 2.7 |
| Mortgage | £476,438 | 1.2 | 2.3 |
| First-time buyer | £424,029 | 0.8 | 2.3 |
| Former owner occupier | £546,563 | 1.2 | 2.5 |
Building status for London
| Building status* | Average price February 2018 | Annual price change % since February 2017 | Monthly price change % since January 2018 |
| New build | £514,619 | 2.9 | 4.7 |
| Existing resold property | £473,538 | -0.3 | -0.8 |
*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 February 2018 fell by 23.9% to 5,411 compared with 7,108 in February 2017.
| Month | Sales 2018 | Sales 2017 | Difference % |
| January | 6,092 | 6,931 | -12.1 |
| February | 5,411 | 7,108 | -23.9 |
Wales
Wales shows, on average, house prices have risen by 1.6% since March 2018. An annual price rise of 4.4% takes the average property value to £156,495.
Average price by property type for Wales
| Property type | April 2018 | April 2017 | Difference % |
| Detached | £233,124 | £226,558 | 2.9 |
| Semi-detached | £151,096 | £143,544 | 5.3 |
| Terraced | £122,904 | £115,920 | 6.0 |
| Flat/maisonette | £110,388 | £109,399 | 0.9 |
| All | £156,495 | £149,900 | 4.4 |
Funding and buyer status for Wales
| Transaction type | Average price April 2018 | Annual price change % since April 2017 | Monthly price change % since March 2018 |
| Cash | £151,696 | 3.8 | 1.3 |
| Mortgage | £159,345 | 4.8 | 1.8 |
| First-time buyer | £135,641 | 4.7 | 2.2 |
| Former owner occupier | £180,660 | 4.1 | 0.9 |
Building status for Wales
| Building status* | Average price February 2018 | Annual price change % since February 2017 | Monthly price change % since January 2018 |
| New build | £211,726 | 11.3 | 5.1 |
| Existing resold property | £149,937 | 4.8 | 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 February 2018 fell by 8.6% to 2,947 compared with 3,225 in February 2017; and
- there were 60 repossession sales in February 2018.
| Month | Sales 2018 | Sales 2017 | Difference % |
| January | 3,014 | 3,056 | -1.4 |
| February | 2,947 | 3,225 | -8.6 |
UK house prices rose by 3.9% in the year to April 2018, down from 4.2% in the year to March 2018.
The UK Property Transaction Statistics for April 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 100,190. This is 2.7% lower compared to a year ago. Between March and April 2018, transactions increased by 3.5%.
Looking at the country and English regional level, the South West was the fastest growing region with an annual growth rate of 6.1%, up from 5.3% in the previous month. This was closely followed by the West Midlands at 5.9%. London was the slowest growing region at 1%, up from -0.5% in the previous month. This is the 6th consecutive month that London has the lowest annual growth rate of any UK country or English region.
See the economic statement.
Kindly shared by Land Registry
