The July data shows:
- on average, house prices have risen by 0.5% since June 2019
- there has been an annual price rise of 0.7%, which makes the average property in the UK valued at £232,710.
England
In England, the July data shows on average, house prices have risen by 0.5% since June 2019. The annual price rise of 0.3% takes the average property value to £248,837.
The regional data for England indicates that:
- Yorkshire and the Humber experienced the greatest monthly price rise, up by 3.2%
- the North East saw the most significant monthly price fall, down by 2.1%
- Yorkshire and the Humber experienced the greatest annual price rise, up by 1.9%
- the North East saw the largest annual price fall, down by 2.9%
Price change by region for England
| Region | Average price July 2019 | Monthly change % since June 2019 |
|---|---|---|
| East Midlands | £194,798 | 0.3 |
| East of England | £292,444 | 0.1 |
| London | £477,813 | 1.0 |
| North East | £127,466 | -2.1 |
| North West | £166,022 | 1.0 |
| South East | £320,454 | -0.7 |
| South West | £258,602 | 1.2 |
| West Midlands | £199,802 | 1.2 |
| Yorkshire and the Humber | £167,181 | 1.9 |
Repossession sales by volume for England
The lowest number of repossession sales in May 2019 was in the East of England.
The highest number of repossession sales in May 2019 was in the North West.
| Repossession sales | May 2019 |
|---|---|
| East Midlands | 51 |
| East of England | 11 |
| London | 51 |
| North East | 84 |
| North West | 140 |
| South East | 89 |
| South West | 45 |
| West Midlands | 61 |
| Yorkshire and The Humber | 85 |
| England | 617 |
Average price by property type for England
| Property type | July 2019 | July 2018 | Difference % |
|---|---|---|---|
| Detached | £375,593 | £376,383 | 0.2 |
| Semi-detached | £232,963 | £231,083 | 0.8 |
| Terraced | £202,253 | £200,525 | 0.9 |
| Flat/maisonette | £227,828 | £228,677 | -0.4 |
| All | £248,837 | £247,981 | 0.3 |
Funding and buyer status for England
| Transaction type | Average price July 2019 | Annual price change % since July 2018 | Monthly price change % since June 2019 |
|---|---|---|---|
| Cash | £233,891 | 0.2 | 0.4 |
| Mortgage | £256,347 | 0.4 | 0.6 |
| First-time buyer | £209,289 | 0.7 | 0.9 |
| Former owner occupier | £281,680 | 0.0 | 0.1 |
Building status for England
| Building status* | Average price May 2019 | Annual price change % since May 2018 | Monthly price change % since April 2019 |
|---|---|---|---|
| New build | £302,142 | 1.6 | -1.1 |
| Existing resold property | £242,166 | 0.9 | 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.
London
London shows, on average, house prices have risen by 1.0% since June 2019. An annual price fall of 1.4% takes the average property value to £477,813.
Average price by property type for London
| Property type | July 2019 | July 2018 | Difference % |
|---|---|---|---|
| Detached | £900,963 | £929,011 | -3.0 |
| Semi-detached | £582,005 | £591,665 | -1.6 |
| Terraced | £495,372 | £504,801 | -1.9 |
| Flat/maisonette | £420,219 | £424,322 | -1.0 |
| All | £477,813 | £484,724 | -1.4 |
Funding and buyer status for London
| Transaction type | Average price July 2019 | Annual price change % since July 2018 | Monthly price change % since June 2019 |
|---|---|---|---|
| Cash | £502,685 | -1.4 | 1.4 |
| Mortgage | £470,331 | -1.4 | 0.9 |
| First-time buyer | £417,824 | -1.3 | 1.2 |
| Former owner occupier | £539,459 | -1.6 | 0.7 |
Building status for London
| Building status* | Average price May 2019 | Annual price change % since May 2018 | Monthly price change % since April 2019 |
|---|---|---|---|
| New build | £474,404 | -3.4 | -2.7 |
| Existing resold property | £464,372 | -2.8 | -1.1 |
*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 1.0.% since June 2019. An annual price rise of 4.2% takes the average property value to £165,303.
There were 62 repossession sales for Wales in May 2019.
Average price by property type for Wales
| Property type | July 2019 | July 2018 | Difference % |
|---|---|---|---|
| Detached | £248,324 | £239,992 | 3.5 |
| Semi-detached | £159,374 | £152,727 | 4.4 |
| Terraced | £128,766 | £122,692 | 5.0 |
| Flat/maisonette | £116,882 | £113,148 | 3.3 |
| All | £165,303 | £158,626 | 4.2 |
Funding and buyer status for Wales
| Transaction type | Average price July 2019 | Annual price change % since July 2018 | Monthly price change % since June 2019 |
|---|---|---|---|
| Cash | £160,445 | 4.0 | 1.3 |
| Mortgage | £168,171 | 4.3 | 0.9 |
| First-time buyer | £143,080 | 4.6 | 1.2 |
| Former owner occupier | £191,105 | 3.8 | 0.8 |
Building status for Wales
| Building status* | Average price May 2019 | Annual price change % since May 2018 | Monthly price change % since April 2019 |
|---|---|---|---|
| New build | £214,053 | 5.7 | -0.6 |
| Existing resold property | £158,746 | 4.5 | 0.2 |
*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 0.7% in the year to July 2019, down from 1.4% in June 2019. This is the lowest annual growth rate for the UK since September 2012, when house prices increased by 0.4%.
The UK Property Transaction Statistics for July 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 86,490. This is 12.4% lower than a year ago. Between June 2019 and July 2019, transactions fell by 8.5%.
House price growth was strongest in Wales where prices increased by 4.2% in the year to July 2019, down slightly from 4.3% in the year to June 2019. The lowest annual growth was in the North East, where prices fell by 2.9% over the year to July 2019.
See the economic statement.
