The November data shows:
- on average, house prices have risen by 0.4% since October 2019
- there has been an annual price rise of 2.2%, which makes the average property in the UK valued at £235,298
- Wales experienced record annual growth in November 2019 - this was driven by a rise in sales of more expensive properties in typically busy property markets such as Cardiff and Newport, coupled with a fall in prices in the same period a year before
England
In England the November data shows, on average, house prices have risen by 0.3% since October 2019. The annual price rise of 1.7% takes the average property value to £251,222.
The regional data for England indicates that:
- the West Midlands experienced the greatest monthly price rise, up by 1.7%
- Yorkshire and The Humber saw the most significant monthly price fall, down by 1%
- the West Midlands experienced the greatest annual price rise, up by 4%
- East of England saw the largest annual price fall, down by 0.7%
Price change by region for England
| Region | Average price November 2019 | Monthly change % since October 2019 |
|---|---|---|
| East Midlands | £197,792 | 1.1 |
| East of England | £291,281 | -0.7 |
| London | £475,458 | -0.5 |
| North East | £130,712 | 0.7 |
| North West | £169,362 | 1.1 |
| South East | £326,636 | 0.4 |
| South West | £259,758 | -0.3 |
| West Midlands | £204,238 | 1.7 |
| Yorkshire and the Humber | £165,642 | -1.0 |
Repossession sales by volume for England
The lowest number of repossession sales in September 2019 was in the East of England.
The highest number of repossession sales in September 2019 was in the North West.
| Repossession sales | September 2019 |
|---|---|
| East Midlands | 46 |
| East of England | 14 |
| London | 38 |
| North East | 84 |
| North West | 123 |
| South East | 55 |
| South West | 35 |
| West Midlands | 57 |
| Yorkshire and The Humber | 73 |
| England | 525 |
Average price by property type for England
| Property type | November 2019 | November 2018 | Difference % |
|---|---|---|---|
| Detached | £383,945 | £376,142 | 2.1 |
| Semi-detached | £237,054 | £230,973 | 2.6 |
| Terraced | £202,350 | £199,607 | 1.4 |
| Flat/maisonette | £226,616 | £225,623 | 0.4 |
| All | £251,222 | £246,940 | 1.7 |
Funding and buyer status for England
| Transaction type | Average price November 2019 | Annual price change % since November 2018 | Monthly price change % since October 2019 |
|---|---|---|---|
| Cash | £236,352 | 1.6 | 0.3 |
| Mortgage | £258,705 | 1.8 | 0.2 |
| First-time buyer | £210,284 | 1.7 | 0.3 |
| Former owner occupier | £285,742 | 1.8 | 0.2 |
Building status for England
| Building status* | Average price September 2019 | Annual price change % since September 2018 | Monthly price change % since August 2019 |
|---|---|---|---|
| New build | £313,823 | 3.7 | 2.0 |
| Existing resold property | £246,855 | 0.8 | 0.1 |
*Figures for the 2 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 0.5% since October 2019. An annual price rise of 0.2% takes the average property value to £475,458.
Average price by property type for London
| Property type | November 2019 | November 2018 | Difference % |
|---|---|---|---|
| Detached | £916,921 | £913,641 | 0.4 |
| Semi-detached | £584,481 | £580,831 | 0.6 |
| Terraced | £498,459 | £494,653 | 0.8 |
| Flat/maisonette | £413,863 | £414,526 | -0.2 |
| All | £475,458 | £474,347 | 0.2 |
Funding and buyer status for London
| Transaction type | Average price November 2019 | Annual price change % since November 2018 | Monthly price change % since October 2019 |
|---|---|---|---|
| Cash | £494,958 | -0.8 | -0.6 |
| Mortgage | £469,300 | 0.5 | -0.4 |
| First-time buyer | £414,952 | 0.2 | -0.4 |
| Former owner occupier | £538,220 | 0.3 | -0.5 |
Building status for London
| Building status* | Average price September 2019 | Annual price change % since September 2018 | Monthly price change % since August 2019 |
|---|---|---|---|
| New build | £502,228 | 3.4 | 3.8 |
| Existing resold property | £477,678 | 0.2 | 0.5 |
*Figures for the 2 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 3.5% since October 2019. An annual price rise of 7.8% takes the average property value to £172,574.
There were 45 repossession sales for Wales in September 2019.
Average price by property type for Wales
| Property type | November 2019 | November 2018 | Difference % |
|---|---|---|---|
| Detached | £259,606 | £241,953 | 7.3 |
| Semi-detached | £167,517 | £154,517 | 8.4 |
| Terraced | £133,595 | £124,216 | 7.6 |
| Flat/maisonette | £121,475 | £112,805 | 7.7 |
| All | £172,574 | £160,158 | 7.8 |
Funding and buyer status for Wales
| Transaction type | Average price November 2019 | Annual price change % since November 2018 | Monthly price change % since October 2019 |
|---|---|---|---|
| Cash | £167,003 | 7.3 | 2.9 |
| Mortgage | £175,842 | 8.0 | 3.8 |
| First-time buyer | £149,063 | 7.8 | 3.6 |
| Former owner occupier | £199,974 | 7.7 | 3.4 |
Building status for Wales
| Building status* | Average price September 2019 | Annual price change % since September 2018 | Monthly price change % since August 2019 |
|---|---|---|---|
| New build | £220,532 | 4.7 | -0.6 |
| Existing resold property | £161,851 | 2.9 | -2.1 |
*Figures for the 2 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 increased by 2.2% in the year to November 2019, up from 1.3% in October 2019.
The UK Property Transaction Statistics for November 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 102,050. This is 1.9% higher than a year ago. Between October 2019 and November 2019, transactions increased by 3.2%.
House price growth was strongest in Wales where prices increased by 7.8% over the year. Wales has experienced record annual growth in November 2019. This is driven by a shift towards higher value property being transacted between October and November in areas with a typically larger volume of transactions, such as Cardiff and Newport, coupled with a fall in prices during the same period in 2018. The lowest annual growth was in East of England, where prices fell by 0.7% over the year to November 2019, followed by London where prices increased by 0.2% over the year.
See the economic statement.
Background
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The UK House Price Index (HPI) is published on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. The December 2019 UK HPI will be published at 9.30am on Wednesday 19 February 2020, with the 2019 UK HPI Annual report following on Monday 24 February 2020. See calendar of release dates.
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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.
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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.
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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.
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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
