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

 

Access the full UK HPI

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