UK House Price Index for June 2020

This is the third publication of the UK House Price Index since May 2020 following the decision to suspend the index as a result of the effect the coronavirus (COVID-19) pandemic had on the reporting of the data.

Between now and 21 October, we will be publishing the reports that were meant to be published during the period of suspension to enable the August data to be released on 21 October, as originally scheduled before the disruption earlier this year. The June index was originally scheduled to be released in August. See the full calendar of release dates.

The June data shows:

  • on average, house prices have risen by 2.7% since May 2020
  • there has been an annual price rise of 3.4%, which makes the average property in the UK valued at £237,834

England

In England, the June data shows on average, house prices have risen by 2.8% since May 2020. The annual price rise of 3.5% takes the average property value to £254,423.

The regional data for England indicates that:

  • the North West experienced the greatest monthly price rise, up by 4.3%
  • the South East saw the lowest monthly price growth, with a rise of 1.6%
  • the East Midlands experienced the greatest annual price rise, up by 4.5%
  • the North East saw the lowest annual price growth, with a rise of 1.7%

Price change by region for England

RegionAverage price June 2020Monthly change % since May 2020
East Midlands£200,6822.6
East of England£295,8562.0
London£490,4953.6
North East£131,7422.9
North West£170,9394.3
South East£327,5581.6
South West£263,4742.9
West Midlands£204,6643.0
Yorkshire and the Humber£169,0202.7

Repossession sales by volume for England

The lowest number of repossession sales in April 2020 was in the East of England.

The highest number of repossession sales in April 2020 was in the North West.

Repossession salesApril 2020
East Midlands16
East of England4
London22
North East32
North West42
South East16
South West10
West Midlands22
Yorkshire and The Humber33
England197

Average price by property type for England

Property typeJune 2020June 2019Difference %
Detached£386,090£372,0973.8
Semi-detached£240,826£231,0824.2
Terraced£207,304£199,1664.1
Flat/maisonette£226,342£224,0001.0
All£254,423£245,8463.5

Funding and buyer status for England

Transaction typeAverage price June 2020Annual price change % since June 2019Monthly price change % since May 2020
Cash£238,5073.03.0
Mortgage£262,3883.72.7
First-time buyer£213,1803.42.8
Former owner occupier£289,0923.62.7

Building status for England

Building status*Average price April 2020Annual price change % since April 2019Monthly price change % since March 2020
New build£322,9365.91.4
Existing resold property£242,2630.7-1.3

*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 have risen by 3.6% since May 2020. An annual price rise of 4.2% takes the average property value to £490,495.

Average price by property type for London

Property typeJune 2020June 2019Difference %
Detached£925,651£892,5273.7
Semi-detached£606,137£579,2854.6
Terraced£520,336£491,4885.9
Flat/maisonette£424,377£410,7343.3
All£490,495£470,5194.2

Funding and buyer status for London

Transaction typeAverage price June 2020Annual price change % since June 2019Monthly price change % since May 2020
Cash£515,5844.54.8
Mortgage£482,9404.23.3
First-time buyer£427,1664.03.5
Former owner occupier£556,9314.63.6

Building status for London

Building status*Average price April 2020Annual price change % since April 2019Monthly price change % since March 2020
New build£508,3924.3-1.0
Existing resold property£472,4570.9-1.9

*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 2.7% since May 2020. An annual price rise of 2.8% takes the average property value to £167,505.

There were 46 repossession sales for Wales in April 2020.

Average price by property type for Wales

Property typeJune 2020June 2019Difference %
Detached£250,905£244,2652.7
Semi-detached£162,632£157,5803.2
Terraced£130,967£126,7353.3
Flat/maisonette£114,698£115,229-0.5
All£167,505£162,9082.8

Funding and buyer status for Wales

Transaction typeAverage price June 2020Annual price change % since June 2019Monthly price change % since May 2020
Cash£162,3332.83.1
Mortgage£170,5752.82.6
First-time buyer£144,9302.92.7
Former owner occupier£193,6972.72.7

Building status for Wales

Building status*Average price April 2020Annual price change % since April 2019Monthly price change % since March 2020
New build£223,7873.7-1.7
Existing resold property£156,744-0.9-4.6

*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Access the full UK HPI

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 June 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 3.4% in the year to June 2020, up from 1.1% in May 2020. On a non-seasonally adjusted basis, average house prices in the UK increased by 2.7% between May 2020 and June 2020, compared with a rise of 0.4% during the same period a year earlier (May 2019 and June 2019).

The UK Property Transactions Statistics for June 2020 showed that on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 61,780. This is 37.4% lower than a year ago. Between May 2020 and June 2020, transactions increased by 28.4%.

House price growth was strongest in England where prices increased by 3.5% over the year to June 2020. The highest annual growth within the English regions was in the East Midlands where average house prices grew by 4.5%. The lowest annual growth was in the North East, where prices increased by 1.7% over the year to June 2020.

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 July 2020 UK HPI will be published at 9.30am on Wednesday 7 October 2020. 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. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.