UK House Price Index for August 2019

Traditional British brick terraced houses with a metal front fence on a sunny autumn day. Greenwich, London, UK

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.

Access the full UK HPI

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

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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

/Public Release. View in full here.