The August data shows:
- on average, house prices have risen by 0.8% since July 2019
- there has been an annual price rise of 1.3%, which makes the average property in the UK valued at £234,853
England
In England, the August data shows on average, house prices have risen by 0.8% since July 2019. The annual price rise of 1.1% takes the average property value to £251,233.
The regional data for England indicates that:
- the North East experienced the greatest monthly price rise, up by 3.1%
- London saw the most significant monthly price fall, down by 1.3%
- the North East experienced the greatest annual price rise, up by 3.3%
- London saw the largest annual price fall, down by 1.4%
Price change by region for England
| Region | Average price August 2019 | Monthly change % since July 2019 |
|---|---|---|
| East Midlands | £197,682 | 1.8 |
| East of England | £294,192 | 0.3 |
| London | £472,753 | -1.3 |
| North East | £134,736 | 3.1 |
| North West | £168,221 | 1.3 |
| South East | £326,232 | 0.8 |
| South West | £260,901 | 0.7 |
| West Midlands | £201,510 | 1.5 |
| Yorkshire and the Humber | £165,767 | 0.2 |
Repossession sales by volume for England
The lowest number of repossession sales in June 2019 was in the East of England.
The highest number of repossession sales in June 2019 was in the North West.
| Repossession sales | June 2019 |
|---|---|
| East Midlands | 48 |
| East of England | 13 |
| London | 37 |
| North East | 104 |
| North West | 107 |
| South East | 40 |
| South West | 37 |
| West Midlands | 51 |
| Yorkshire and The Humber | 83 |
| England | 520 |
Average price by property type for England
| Property type | August 2019 | August 2018 | Difference % |
|---|---|---|---|
| Detached | £386,466 | £376,560 | 2.6 |
| Semi-detached | £236,162 | £231,992 | 1.8 |
| Terraced | £204,062 | £201,469 | 1.3 |
| Flat/maisonette | £223,130 | £228,736 | -2.5 |
| All | £251,233 | £248,620 | 1.1 |
Funding and buyer status for England
| Transaction type | Average price August 2019 | Annual price change % since August 2018 | Monthly price change % since July 2019 |
|---|---|---|---|
| Cash | £236,098 | 0.8 | 0.8 |
| Mortgage | £258,838 | 1.2 | 0.8 |
| First-time buyer | £209,603 | 0.4 | 0.4 |
| Former owner occupier | £286,692 | 1.6 | 1.3 |
Building status for England
| Building status | Average price June 2019 | Annual price change % since June 2018 | Monthly price change % since May 2019 |
|---|---|---|---|
| New build | £301,678 | 0.8 | 0.5 |
| Existing resold property | £243,442 | 0.8 | 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.
London
London shows, on average, house prices have fallen by 1.3% since July 2019. An annual price fall of 1.4% takes the average property value to £472,753.
Average price by property type for London
| Property type | August 2019 | August 2018 | Difference % |
|---|---|---|---|
| Detached | £908,197 | £912,509 | -0.5 |
| Semi-detached | £579,593 | £583,664 | -0.7 |
| Terraced | £503,279 | £498,383 | 1.0 |
| Flat/maisonette | £408,728 | £420,693 | -2.8 |
| All | £472,753 | £479,550 | -1.4 |
Funding and buyer status for London
| Transaction type | Average price August 2019 | Annual price change % since August 2018 | Monthly price change %since July 2019 |
|---|---|---|---|
| Cash | £492,700 | -2.4 | -1.5 |
| Mortgage | £466,491 | -1.1 | -1.3 |
| First-time buyer | £411,720 | -1.8 | -1.4 |
| Former owner occupier | £536,680 | -0.9 | -1.2 |
Building status for London
| Building status* | Average price June 2019 | Annual price change % since June 2018 | Monthly price change % since May 2019 |
|---|---|---|---|
| New build | £477,195 | -3.0 | 1.1 |
| Existing resold property | £471,747 | -1.6 | 1.6 |
*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 2.3% since July 2019. An annual price rise of 4.5% takes the average property value to £168,318.
There were 38 repossession sales for Wales in June 2019.
Average price by property type for Wales
| Property type | August 2019 | August 2018 | Difference % |
|---|---|---|---|
| Detached | £255,278 | £242,125 | 5.4 |
| Semi-detached | £162,226 | £155,148 | 4.6 |
| Terraced | £130,870 | £125,188 | 4.5 |
| Flat/maisonette | £115,782 | £114,920 | 0.7 |
| All | £168,318 | £161,024 | 4.5 |
Funding and buyer status for Wales
| Transaction type | Average price August 2019 | Annual price change % since August 2018 | Monthly price change % since July 2019 |
|---|---|---|---|
| Cash | £163,628 | 4.6 | 2.6 |
| Mortgage | £171,094 | 4.5 | 2.1 |
| First-time buyer | £144,961 | 4.1 | 2.0 |
| Former owner occupier | £195,683 | 5.0 | 2.5 |
Building status for Wales
| Building status* | Average price June 2019 | Annual price change % since June 2018 | Monthly price change % since May 2019 |
|---|---|---|---|
| New build | £214,751 | 4.1 | 0.8 |
| Existing resold property | £160,598 | 4.3 | 1.0 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
UK House Prices
UK house prices grew by 1.3% in the year to August 2019, up from 0.8% in July 2019.
The UK Property Transaction Statistics for August 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 99,890. This is 0.9% higher than a year ago. Between July 2019 and August 2019, transactions increased by 15.8%.
House price growth was strongest in Wales where prices increased by 4.5% in the year to August 2019, up from 3.8% in the year to July 2019. The lowest annual growth was in London, where prices fell by 1.4% over the year to August 2019.
See the economic statement.
Background
- The UK House Price Index (HPI) is published on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. The September 2019 UK HPI will be published at 9.30am on Wednesday 13 November 2019. See calendar of release dates.
- We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month's UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
- The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
- Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
- Revision tables have been introduced for England and Wales within the downloadable data. Tables will be available in csv format. See about the UK HPI f
