April 2020 UK HPI from HM Land Registry

UK House Price Index April 2020

This is the first publication of the UK House Price Index since May 2020 following the decision to suspend the index as a result of the effect the 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. This report was originally scheduled to be released in June of this year. The full calendar of release dates can be found here.

The April data shows:

  • on average, house prices have fallen by 0.2% since March 2020
  • there has been an annual price rise of 2.6%, which makes the average property in the UK valued at £234,612.

England

In England, the April data shows on average, house prices have fallen by 0.3% since March 2020. The annual price rise of 2.5% takes the average property value to £250,874.

The regional data for England indicates that:

  • The East of England experienced the greatest monthly price rise, up by 1.5%
  • The South West saw the most significant monthly price fall, down by 2.5%
  • The East Midlands experienced the greatest annual price rise, up by 4.7%
  • The North East saw the lowest annual price growth, down by 2.7%

 

Price change by region for England

Region

Average price April 2020

Monthly change % since March 2020

East Midlands

£200,513

1.1

East of England

£295,640

1.5

London

£480,425

-1.6

North East

£125,938

-2.4

North West

£167,809

-0.2

South East

£327,413

0.2

South West

£255,891

-2.5

West Midlands

£202,093

0.4

Yorkshire and the Humber

£165,561

-0.1

 

Repossession sales by volume for England

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

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

Repossession sales

February 2020

East Midlands

47

East of England

13

London

35

North East

84

North West

106

South East

53

South West

38

West Midlands

56

Yorkshire and The Humber

95

England

527

 

Average price by property type for England

Property type

April 2020

April 2019

Difference %

Detached

£384,063

£371,113

3.5

Semi-detached

£236,018

£229,399

2.9

Terraced

£205,492

£198,335

3.6

Flat/maisonette

£220,812

£222,913

-0.9

All

£250,874

£244,662

2.5

 

Funding and buyer status for England

Transaction type

Average price

April 2020 

Annual price change % since April 2019

Monthly price change % since March 2020

Cash

£234,272

1.8

-0.7

Mortgage

£259,111

2.8

-0.1

First-time buyer

£210,404

2.4

-0.2

Former owner occupier

£284,796

2.7

-0.3

 

Building status for England

Building status*

Average price

February 2020 

Annual price change % since February 2019

Monthly price change % since

January 2020

New build

£316,668

1.9

-1.9

Existing resold property

£243,618

1.6

0.0

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

 

London

London shows, on average, house prices have fallen by 1.6% since March 2020. An annual price rise of 2.3% takes the average property value to £480,425.

Average price by property type for London

Property type

April 2020

April 2019

Difference %

Detached

£971,142

£886,952

9.5

Semi-detached

£602,377

£570,672

5.6

Terraced

£511,058

£489,897

4.3

Flat/maisonette

£410,745

£411,728

-0.2

All

£480,425

£469,537

2.3

 

Funding and buyer status for London

Transaction type

Average price

April 2020 

Annual price change % since April 2019

Monthly price change % since March 2020

Cash

£504,860

2.0

-1.8

Mortgage

£473,059

2.4

-1.5

First-time buyer

£417,555

1.6

-2.2

Former owner occupier

£547,020

3.3

-0.8

 

Building status for London

Building status*

Average price

February 2020 

Annual price change % since February 2019

Monthly price change % since

January 2020

New build

£511,689

3.9

-1.6

Existing resold property

£476,738

2.9

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.

 

Wales

Wales shows, on average, house prices have risen by 0.6% since March 2020. An annual price rise of 5.0% takes the average property value to £169,489.

There were 43 repossession sales for Wales in February 2020.

Average price by property type for Wales

Property type

April 2020

April 2019

Difference %

Detached

£253,393

£243,846

3.9

Semi-detached

£164,188

£156,028

5.2

Terraced

£134,051

£125,083

7.2

Flat/maisonette

£112,239

£113,448

-1.1

All

£169,489

£161,456

5.0

 

Funding and buyer status for Wales

Transaction type

Average price April 2020 

Annual price change % since April 2019

Monthly price change % since March 2020

Cash

£163,014

3.8

-0.2

Mortgage

£173,229

5.6

0.9

First-time buyer

£147,239

5.6

1.1

Former owner occupier

£195,068

4.3

0.0

 

Building status for Wales

Building status*

Average price

February 2020 

Annual price change % since February 2019

Monthly price change % since

January 2020

New build

£227,230

4.5

-1.4

Existing resold property

£162,911

4.7

2.1

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

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