UK House Price Index October 2018 (published by HM Land Registry)
The October data from HM Land Registry shows, on average, house prices have fallen by 0.2% since September 2018, with an annual price rise of 2.7%, which makes the average property in the UK valued at £231,095.
England
In England, the October data shows on average, house prices have fallen 0.2% since September 2018. The annual price rise of 2.4% takes the average property value to £247,914.
The regional data for England indicates that:
- the North West experienced the greatest monthly price rise, up by 1.2%
- the North East saw the most significant monthly price fall, down by 1.9%
- the North West experienced the greatest annual price rise, up by 4.9
- London saw the largest annual price fall, down by 1.7%
Price change by region for England
| Region | Average price October 2018 | Monthly change % since September 2018 |
| East Midlands | £191,993 | -0.6 |
| East of England | £294,548 | 0.5 |
| London | £473,609 | -0.3 |
| North East | £128,484 | -1.9 |
| North West | £165,007 | 1.2 |
| South East | £326,785 | -0.4 |
| South West | £256,167 | -1.2 |
| West Midlands | £196,073 | -1.1 |
| Yorkshire and the Humber | £163,858 | 1.0 |
Repossession sales by volume for England
- The lowest number of repossession sales in July 2018 was in the East of England.
- The highest number of repossession sales in July 2018 was in the North West.
| Repossession sales | July 2018 |
| East Midlands | 43 |
| East of England | 10 |
| London | 38 |
| North East | 80 |
| North West | 127 |
| South East | 69 |
| South West | 31 |
| West Midlands | 50 |
| Yorkshire and the Humber | 64 |
| England | 512 |
Average price by property type for England
| Property type
|
October 2018 | October 2017 | Difference % |
| Detached | £376,581 | £365,469 | 3.0 |
| Semi-detached | £231,863 | £224,513 | 3.3 |
| Terraced | £199,325 | £194,602 | 2.4 |
| Flat/maisonette | £229,075 | £227,770 | 0.6 |
| All | £247,914 | £242,003 | 2.4 |
Funding and buyer status for England
| Transaction type | Average price
October 2018 |
Annual price change % since October 2017 | Monthly price change %since September 2018 |
| Cash | £233,878 | 2.6 | -0.1 |
| Mortgage | £254,985 | 2.4 | -0.2 |
| First-time buyer | £207,840 | 2.2 | 0.0 |
| Former owner occupier | £281,586 | 2.6 | -0.4 |
Building status for England
| Building status* | Average price
August 2018 |
Annual price change % since August 2017 | Monthly price change % since
July 2018 |
| New build | £318,122 | 8.8 | 3.4 |
| Existing resold property | £245,144 | 2.5 | 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.
London
London shows, on average, house prices have fallen by 0.3% since September 2018. An annual price fall of 1.7% takes the average property value to £473,609.
Average price by property type for London
| Property type
|
October 2018 | October 2017 | Difference % |
| Detached | £911,740 | £908,782 | 0.3 |
| Semi-detached | £578,539 | £580,410 | -0.3 |
| Terraced | £494,081 | £494,013 | 0 |
| Flat/maisonette | £414,067 | £426,315 | -2.9 |
| All | £473,609 | £481,762 | -1.7 |
Funding and buyer status for London
| Transaction type | Average price
October 2018 |
Annual price change % since October 2017 | Monthly price change %since September 2018 |
| Cash | £494,599 | -2.6 | -0.8 |
| Mortgage | £467,178 | -1.4 | -0.1 |
| First-time buyer | £414,059 | -1.7 | 0.0 |
| Former owner occupier | £534,907 | -1.6 | -0.7 |
Building status for London
| Building status* | Average price August 2018 | Annual price change % since August 2017 | Monthly price change % since July 2018 |
| New build | £516,687 | 5.4 | 2.9 |
| Existing resold property | £481,272 | -1.1 | -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.
Wales
Wales shows, on average, house prices have fallen by 0.3% since September 2018. An annual price rise of 3.8% takes the average property value to £160,874.
There were 52 repossession sales for Wales in August 2018.
Average price by property type for Wales
| Property type | October 2018 | October 2017 | Difference % |
| Detached | £243,427 | £234,474 | 3.8 |
| Semi-detached | £155,121 | £149,237 | 3.9 |
| Terraced | £123,641 | £119,515 | 3.5 |
| Flat/maisonette | £117,007 | £112,187 | 4.3 |
| All | £160,874 | £155,033 | 3.8 |
Funding and buyer status for Wales
| Transaction type | Average price October 2018 | Annual price change % since October 2017 | Monthly price change %since September 2018 |
| Cash | £156,980 | 3.8 | 0.0 |
| Mortgage | £163,181 | 3.8 | -0.5 |
| First-time buyer | £138,743 | 3.7 | -0.4 |
| Former owner occupier | £186,743 | 3.9 | -0.2 |
Building status for Wales
| Building status* | Average price August 2018 | Annual price change % since August 2017 | Monthly price change % since July 2018 |
| New build | £221,671 | 12.8 | 4.6 |
| Existing resold property | £158,119 | 5.3 | 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.
UK house prices rose by 2.7% in the year to October 2018, down from 3.0% in the year to September 2018.
The UK Property Transaction Statistics for October 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 102,530. This is 1.3% higher compared to a year ago. Between September and October 2018, transactions increased by 0.9%.
House prices grew fastest in the North West region increasing by 4.9% in the year to October 2018. House prices in London fell by 1.7% in the year to October 2018. London house prices have been falling over the year since July 2018.
See the economic statement.
Kindly shared by HM Land Registry
