UK House Price Index November 2020 from HM Land Registry
The UK House Price Index November 2020 data shows house price changes for England, Scotland, Wales and Northern Ireland over the year to November 2020.
The November data shows:
- on average, house prices have risen 1.2% since October 2020
- there has been an annual price rise of 7.6% which makes the average property in the UK valued at £249,633
England
In England, the November data shows on average, house prices have risen by 1.2% since October 2020. The annual price rise of 7.6% takes the average property value to £266,742.
The regional data for England indicates that:
- London experienced the greatest monthly price rise, up by 4%
- the East of England saw the lowest monthly price growth, with a fall of -0.3%
- London and Yorkshire and the Humber experienced the greatest annual price rise, up by 9.7%
- the East of England saw the lowest annual price growth, with a rise of 4.8%
Price change by region for England
| Region | Average price November 2020 | Annual change % since November 2019 | Monthly change % since October 2020 |
| East Midlands | £208,662 | 7.1 | 0.6 |
| East of England | £302,624 | 4.8 | -0.3 |
| London | £513,997 | 9.7 | 4.0 |
| North East | £140,248 | 8.3 | 2.6 |
| North West | £180,280 | 8.5 | 0.2 |
| South East | £342,271 | 6.2 | 1.2 |
| South West | £278,391 | 8.5 | 1.1 |
| West Midlands | £213,974 | 6.9 | 1.0 |
| Yorkshire and the Humber | £180,856 | 9.7 | 1.9 |
Repossession sales by volume for England
The lowest number of repossession sales in September 2020 was in the East of England.
The highest number of repossession sales in September 2020 was in the North East.
| Repossession sales | September 2020 |
| East Midlands | 22 |
| East of England | 7 |
| London | 23 |
| North East | 60 |
| North West | 66 |
| South East | 36 |
| South West | 14 |
| West Midlands | 20 |
| Yorkshire and the Humber | 48 |
| England | 296 |
Average price by property type for England
| Property type | November 2020 | November 2019 | Difference % |
| Detached | £409,644 | £377,293 | 8.6 |
| Semi-detached | £251,846 | £234,008 | 7.6 |
| Terraced | £217,744 | £201,028 | 8.3 |
| Flat/maisonette | £233,614 | £222,243 | 5.1 |
| All | £266,742 | £247,867 | 7.6 |
Funding and buyer status for England
| Transaction type | Average price November 2020 | Annual price change % since November 2019 | Monthly price change % since October 2020 |
| Cash | £250,255 | 7.3 | 1.1 |
| Mortgage | £274,999 | 7.8 | 1.3 |
| First-time buyer | £222,334 | 7.2 | 1.2 |
| Former owner occupier | £304,659 | 8.1 | 1.2 |
Building status for England
| Building status* | Average price September 2020 | Annual price change % since September 2019 | Monthly price change % since August 2020 |
| New build | £323,994 | 4.9 | -0.7 |
| Existing resold property | £256,239 | 4.3 | 1.3 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices rose by 4.0% since October 2020. An annual price rise of 9.7% takes the average property value to £513,997.
Average price by property type for London
| Property type | November 2020 | November 2019 | Difference % |
| Detached | £982,085 | £904,492 | 8.6 |
| Semi-detached | £636,993 | £580,116 | 9.8 |
| Terraced | £548,982 | £495,186 | 10.9 |
| Flat/maisonette | £442,304 | £405,653 | 9.0 |
| All | £513,997 | £468,757 | 9.7 |
Funding and buyer status for London
| Transaction type | Average price November 2020 | Annual price change % since November 2019 | Monthly price change % since October 2020 |
| Cash | £539,792 | 10.5 | 5.4 |
| Mortgage | £506,203 | 9.4 | 3.6 |
| First-time buyer | £445,945 | 9.3 | 3.8 |
| Former owner occupier | £586,662 | 10.1 | 4.2 |
Building status for London
| Building status* | Average price September 2020 | Annual price change % since September 2019 | Monthly price change % since August 2020 |
| New build | £507,961 | 2.0 | -0.9 |
| Existing resold property | £496,541 | 4.5 | 1.4 |
*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 2.0% since October 2020. An annual price rise of 7.0% takes the average property value to £180,229.
There were 36 repossession sales for Wales in September 2020.
Average price by property type for Wales
| Property type | November 2020 | November 2019 | Difference % |
| Detached | £273,737 | £254,121 | 7.7 |
| Semi-detached | £174,223 | £163,573 | 6.5 |
| Terraced | £140,917 | £130,664 | 7.8 |
| Flat/maisonette | £118,998 | £116,734 | 1.9 |
| All | £180,229 | £168,516 | 7.0 |
Funding and buyer status for Wales
| Transaction type | Average price November 2020 | Annual price change % since November 2019 | Monthly price change % since October 2020 |
| Cash | £175,123 | 7.0 | 2.1 |
| Mortgage | £183,289 | 7.0 | 1.9 |
| First-time buyer | £155,270 | 6.7 | 2.0 |
| Former owner occupier | £209,468 | 7.2 | 1.9 |
Building status for Wales
| Building status* | Average price September 2020 | Annual price change % since September 2019 | Monthly price change % since August 2020 |
| New build | £227,409 | 4.7 | -3.7 |
| Existing resold property | £167,794 | 4.0 | -1.8 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
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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 November 2020 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of coronavirus (COVID-19) took hold.
UK house prices
UK house prices increased by 7.6% in the year to November 2020, up from 5.9% in October 2020. On a non-seasonally adjusted basis, average house prices in the UK increased by 1.2% between October and November 2020, compared with a fall of 0.4% during the same period a year earlier (October and November 2019).
The UK Property Transactions Statistics showed that in November 2020, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 115,190. This is 19.3% higher than a year ago. Between October and November 2020, UK transactions increased by 8.6% on a seasonally adjusted basis.
House price growth was strongest in Yorkshire and the Humber and London where prices increased by 9.7% in the year to November 2020. The lowest annual growth was in the East of England, where prices increased by 4.8% in the year to November 2020, up from 4.3% in the year to October 2020.
See the economic statement.
Kindly shared by HM Land Registry
Main article photo courtesy of Pixabay
