UK House Price Index April 2020 from HM Land Registry
The UK House Price Index April 2020 data shows that, on average, house prices have fallen by 0.2% since March 2020, with a rise of 2.6% annually.
This is the first publication of the UK House Price Index since May 2020 following the decision to suspend the index as a result of the effect the coronavirus (COVID-19) pandemic had on the reporting of the data.
Between now and 21 October, we will be publishing the reports that were meant to be published during the period of suspension to enable the August data to be released on 21 October as originally scheduled before the disruption earlier this year. This report was originally scheduled to be released in June of this year. The full calendar of release dates can be found here.
Headlines:
- on average, house prices have fallen by 0.2% since March 2020
- there has been an annual price rise of 2.6%, which makes the average property in the UK valued at £234,612
England
In England, the April data shows on average, house prices have fallen by 0.3% since March 2020. The annual price rise of 2.5% takes the average property value to £250,874.
The regional data for England indicates that:
- the East of England experienced the greatest monthly price rise, up by 1.5%
- the South West saw the most significant monthly price fall, down by 2.5%
- the East Midlands experienced the greatest annual price rise, up by 4.7%
- the North East saw the lowest annual price growth, down by 2.7%
Price change by region for England
| Region | Average price April 2020 | Monthly change % since March 2020 |
| East Midlands | £200,513 | 1.1 |
| East of England | £295,640 | 1.5 |
| London | £480,425 | -1.6 |
| North East | £125,938 | -2.4 |
| North West | £167,809 | -0.2 |
| South East | £327,413 | 0.2 |
| South West | £255,891 | -2.5 |
| West Midlands | £202,093 | 0.4 |
| Yorkshire and the Humber | £165,561 | -0.1 |
Repossession sales by volume for England
The lowest number of repossession sales in February 2020 was in the East of England.
The highest number of repossession sales in February 2020 was in the North West.
| Repossession sales | February 2020 |
| East Midlands | 47 |
| East of England | 13 |
| London | 35 |
| North East | 84 |
| North West | 106 |
| South East | 53 |
| South West | 38 |
| West Midlands | 56 |
| Yorkshire and the Humber | 95 |
| England | 527 |
Average price by property type for England
| Property type | April 2020 | April 2019 | Difference % |
| Detached | £384,063 | £371,113 | 3.5 |
| Semi-detached | £236,018 | £229,399 | 2.9 |
| Terraced | £205,492 | £198,335 | 3.6 |
| Flat/maisonette | £220,812 | £222,913 | -0.9 |
| All | £250,874 | £244,662 | 2.5 |
Funding and buyer status for England
| Transaction type | Average price April 2020 | Annual price change % since April 2019 | Monthly price change % since March 2020 |
| Cash | £234,272 | 1.8 | -0.7 |
| Mortgage | £259,111 | 2.8 | -0.1 |
| First-time buyer | £210,404 | 2.4 | -0.2 |
| Former owner occupier | £284,796 | 2.7 | -0.3 |
Building status for England
| Building status* | Average price February 2020 | Annual price change % since February 2019 | Monthly price change % since January 2020 |
| New build | £316,668 | 1.9 | -1.9 |
| Existing resold property | £243,618 | 1.6 | 0.0 |
*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 1.6% since March 2020. An annual price rise of 2.3% takes the average property value to £480,425.
Average price by property type for London
| Property type | April 2020 | April 2019 | Difference % |
| Detached | £971,142 | £886,952 | 9.5 |
| Semi-detached | £602,377 | £570,672 | 5.6 |
| Terraced | £511,058 | £489,897 | 4.3 |
| Flat/maisonette | £410,745 | £411,728 | -0.2 |
| All | £480,425 | £469,537 | 2.3 |
Funding and buyer status for London
| Transaction type | Average price April 2020 | Annual price change % since April 2019 | Monthly price change % since March 2020 |
| Cash | £504,860 | 2.0 | -1.8 |
| Mortgage | £473,059 | 2.4 | -1.5 |
| First-time buyer | £417,555 | 1.6 | -2.2 |
| Former owner occupier | £547,020 | 3.3 | -0.8 |
Building status for London
| Building status* | Average price February 2020 | Annual price change % since February 2019 | Monthly price change % since January 2020 |
| New build | £511,689 | 3.9 | -1.6 |
| Existing resold property | £476,738 | 2.9 | 0.6 |
*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 0.6% since March 2020. An annual price rise of 5.0% takes the average property value to £169,489.
There were 43 repossession sales for Wales in February 2020.
Average price by property type for Wales
| Property type | April 2020 | April 2019 | Difference % |
| Detached | £253,393 | £243,846 | 3.9 |
| Semi-detached | £164,188 | £156,028 | 5.2 |
| Terraced | £134,051 | £125,083 | 7.2 |
| Flat/maisonette | £112,239 | £113,448 | -1.1 |
| All | £169,489 | £161,456 | 5.0 |
Funding and buyer status for Wales
| Transaction type | Average price April 2020 | Annual price change % since April 2019 | Monthly price change % since March 2020 |
| Cash | £163,014 | 3.8 | -0.2 |
| Mortgage | £173,229 | 5.6 | 0.9 |
| First-time buyer | £147,239 | 5.6 | 1.1 |
| Former owner occupier | £195,068 | 4.3 | 0.0 |
Building status for Wales
| Building status* | Average price February 2020 | Annual price change % since February 2019 | Monthly price change % since January 2020 |
| New build | £227,230 | 4.5 | -1.4 |
| Existing resold property | £162,911 | 4.7 | 2.1 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Please note: The heatmaps that are usually published in the full report will be unavailable this month due to the impact the ongoing coronavirus pandemic has had on operational services.
The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. Therefore, the price data feeding into the March 2020 UK HPI will reflect those completions that occurred before the government measures to reduce the spread of coronavirus took hold.
UK house prices
UK house prices rose by 2.6% in the year to April 2020, down from 3.5% in March 2020. On a non-seasonally adjusted basis, average house prices in the UK fell by 0.2% between March 2020 and April 2020, compared with a rise of 0.7% during the same period a year earlier (March 2019 and April 2019).
The UK Property Transactions Statistics for April 2020 showed that on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 41,960. This is 56.9% lower than a year ago. Between March 2020 and April 2020, transactions fell by 55.5%.
House price growth was strongest in Wales where prices rose by 5.0% over the year to April 2020. The highest annual growth within the English regions was in the East Midlands where average house prices grew by 4.7%. The lowest, and only negative, annual growth was in the North East, where prices fell by 2.3% over the year to April 2020.
See the economic statement.
Kindly shared by HM Land Registry
Main article photo courtesy of Pixabay
