UK House Price Index July 2020 from HM Land Registry
The UK House Price Index July 2020 data shows house price changes for England, Scotland, Wales and Northern Ireland over the year to July 2020.
This is the fourth 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. The July index was originally scheduled to be released in September. See the calendar of release dates.
The July data shows:
- on average, house prices have risen 0.5% since June 2020
- there has been an annual price rise of 2.3%, which makes the average property in the UK valued at £237,963
England
In England, the July data shows, on average, house prices have risen by 0.7% since June 2020. The annual price rise of 2.5% takes the average property value to £254,688.
The regional data for England indicates that:
- Yorkshire and the Humber experienced the greatest monthly price rise, up by 1.5%
- London saw the lowest monthly price growth, with a rise of 0.1%
- the West Midlands experienced the greatest annual price rise, up by 4.3%
- the South East saw the lowest annual price growth, with a rise of 1.0%
Price change by region for England
| Region | Average price July 2020 | Monthly change % since June 2020 |
| East Midlands | £201,608 | 0.8 |
| East of England | £294,876 | 0.2 |
| London | £484,864 | 0.1 |
| North East | £132,161 | 0.9 |
| North West | £171,956 | 1.0 |
| South East | £325,734 | 0.3 |
| South West | £263,353 | 0.6 |
| West Midlands | £206,244 | 0.9 |
| Yorkshire and the Humber | £171,325 | 1.5 |
Repossession sales by volume for England
The lowest number of repossession sales in May 2020 was in the East of England.
The highest number of repossession sales in May 2020 was in the North West.
| Repossession sales | May 2020 |
| East Midlands | 18 |
| East of England | 6 |
| London | 19 |
| North East | 55 |
| North West | 59 |
| South East | 31 |
| South West | 16 |
| West Midlands | 24 |
| Yorkshire and the Humber | 39 |
| England | 267 |
Average price by property type for England
| Property type | July 2020 | July 2019 | Difference % |
| Detached | £386,985 | £375,878 | 3.0 |
| Semi-detached | £241,251 | £232,701 | 3.7 |
| Terraced | £207,347 | £201,611 | 2.8 |
| Flat/maisonette | £226,190 | £227,260 | -0.5 |
| All | £254,688 | £248,468 | 2.5 |
Funding and buyer status for England
| Transaction type | Average price July 2020 | Annual price change % since July 2019 | Monthly price change % since June 2020 |
| Cash | £238,555 | 2.2 | 0.6 |
| Mortgage | £262,746 | 2.6 | 0.7 |
| First-time buyer | £213,163 | 2.1 | 0.5 |
| Former owner occupier | £289,713 | 2.9 | 0.8 |
Building status for England
| Building status* | Average price May 2020 | Annual price change % since May 2019 | Monthly price change % since April 2020 |
| New build | £313,501 | 4.2 | 0.2 |
| Existing resold property | £243,311 | 0.8 | 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.
London
London shows, on average, house prices have risen by 0.1% since June 2020. An annual price rise of 1.3% takes the average property value to £484,864.
Average price by property type for London
| Property type | July 2020 | July 2019 | Difference % |
| Detached | £931,123 | £900,158 | 3.4 |
| Semi-detached | £601,490 | £581,341 | 3.5 |
| Terraced | £514,879 | £499,058 | 3.2 |
| Flat/maisonette | £418,152 | £419,875 | -0.4 |
| All | £484,864 | £478,505 | 1.3 |
Funding and buyer status for London
| Transaction type | Average price July 2020 | Annual price change % since July 2019 | Monthly price change % since June 2020 |
| Cash | £503,022 | 0.5 | -0.8 |
| Mortgage | £478,890 | 1.5 | 0.3 |
| First-time buyer | £421,567 | 0.7 | -0.1 |
| Former owner occupier | £551,789 | 2.3 | 0.3 |
Building status for London
| Building status* | Average price May 2020 | Annual price change % since May 2019 | Monthly price change % since April 2020 |
| New build | £496,369 | 4.4 | 0.4 |
| Existing resold property | £472,635 | 2.1 | -0.4 |
*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 1.7% since June 2020. An annual price rise of 3.6% takes the average property value to £170,415.
There were 26 repossession sales for Wales in May 2020.
Average price by property type for Wales
| Property type | July 2020 | July 2019 | Difference % |
| Detached | £256,052 | £247,201 | 3.6 |
| Semi-detached | £165,533 | £158,875 | 4.2 |
| Terraced | £132,492 | £127,821 | 3.7 |
| Flat/maisonette | £117,951 | £116,076 | 1.6 |
| All | £170,415 | £164,440 | 3.6 |
Funding and buyer status for Wales
| Transaction type | Average price July 2020 | Annual price change % since July 2019 | Monthly price change % since June 2020 |
| Cash | £164,351 | 3.1 | 1.3 |
| Mortgage | £173,943 | 3.9 | 1.9 |
| First-time buyer | £147,091 | 3.5 | 1.5 |
| Former owner occupier | £197,627 | 3.8 | 1.9 |
Building status for Wales
| Building status* | Average price May 2020 | Annual price change % since May 2019 | Monthly price change % since April 2020 |
| New build | £222,125 | 3.6 | 2.1 |
| Existing resold property | £159,758 | 0.8 | 1.7 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. The price data feeding into the July 2020 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of coronavirus took hold.
UK house prices
UK house prices increased by 2.3% in the year to July 2020, down from 2.9% in June 2020. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.5% between June 2020 and July 2020, compared with a rise of 1.1% during the same period a year earlier (June 2019 and July 2019).
The UK Property Transactions Statistics for July 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 70,290. This is 27.8% lower than a year ago. Between June 2020 and July 2020, transactions increased by 13.5%.
House price growth was strongest in Wales where prices increased by 3.6% over the year to July 2020. The highest annual growth within the English regions was in the West Midlands where average house prices grew by 4.3%. The lowest annual growth was in the South East, where prices increased by 1.0% over the year to July 2020.
See the economic statement.
Kindly shared by HM Land Registry
Main article photo courtesy of Pixabay
