August 2020 UK HPI from HM Land Registry

UK House Price Index August 2020

This is the fifth 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.

Since August, we have been publishing the reports that were meant to be published during the period of suspension to enable this month’s data to be released today, as originally scheduled, before the disruption earlier this year. Following this report, we will be resuming the originally planned schedule. The full calendar of release dates can be found here.

The August data shows:

  • on average, UK house prices have risen 0.7% since July 2020
  • there has been an annual price rise of 2.5%, which makes the average property in the UK valued at £239,196
  • In England house prices have risen by 0.7% since July 2020 and by 2.8% annually taking the average property value to £256,109
  • In London house prices have risen by 0.9% since July 2020 and by 3.5% annually taking the average property value to £489,159
  • In Wales house prices have risen by 2.1% since July 2020 and by 2.7% annually taking the average property value to £172,828
  • The regional data for England indicates that:
    • The South East experienced the greatest monthly price rise, up by 1.6%
    • The North East and South West saw the lowest monthly price growth, with a movement of 0.0%
    • The East Midlands experienced the greatest annual price rise, up by 3.6%
    • The North East saw the lowest annual price growth, with a rise of 1.0%

 

Average price by property type for England

Property type

August 2020

August 2019

Difference %

Detached

£391,480

£378,777

3.4

Semi-detached

£243,887

£233,762

4.3

Terraced

£208,302

£203,207

2.5

Flat/maisonette

£223,900

£224,332

-0.2

All

£256,109

£249,221

2.8

 

Average price by property type for London

Property type

August 2020

August 2019

Difference %

Detached

£938,603

£902,797

4.0

Semi-detached

£611,211

£580,661

5.3

Terraced

£523,549

£500,513

4.6

Flat/maisonette

£419,296

£409,829

2.3

All

£489,159

£472,729

3.5

 

Average price by property type for Wales

Property type

August 2020

August 2019

Difference %

Detached

£262,266

£253,963

3.3

Semi-detached

£168,923

£161,994

4.3

Terraced

£133,097

£131,011

1.6

Flat/maisonette

£117,138

£117,263

-0.1

All

£172,828

£168,215

2.7

 


UK house prices increased by 2.5% in the year to August 2020, up from 2.1% in July 2020. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.7% between July 2020 and August 2020, compared with a rise of 0.3% during the same period a year earlier (July 2019 and August 2019).

The highest annual growth within the English regions was in the East Midlands where average house prices grew by 3.6%. The lowest annual growth was in the North East, where prices increased by 0.2% in the year to August 2020.

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 August 2020 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of Covid-19 took hold.

The UK Property Transactions Statistics showed that in August 2020, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 81,280. This is 16.3% lower than a year ago. Between July 2020 and August 2020, UK transactions increased by 15.6% on a seasonally adjusted basis.

You can see the full HPI data here, including repossessions, funding and buyer type and building status.

HM Land Registery

News stories direct from HM Land Registry.

You May Also Enjoy

Breaking News

Breaking Property News 11/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Navigating new legislation in the Lettings sector Paul Starkey, technology and property industry veteran and also advisor for Symple, gives his take on how to better monetise lettings operations. ‘During a housing crisis, the last thing the UK needs is a subsequent catastrophe in…
Read More
how to present your property for sale
Breaking News

Areas in England with the best value for house prices and education, according to new research

Kingston upon Hull has the highest combined score of 75.30 out of 100 for bothhouse prices with adequate value and ‘outstanding’ schools Three Rivers is in second place with a score of 73.73, while Preston takes third place with a score of 72.66 The study created scores by determining areas with relatively low house prices…
Read More
Estate Agent Talk

Why Every UK Estate Agent Needs a Modern CRM to Stay Competitive

Despite their best efforts, many estate agents in the UK are struggling to meet their business goals. What’s holding them back? According to industry experts, one key issue is the absence of an effective CRM (Customer Relationship Management) system. In today’s fast-moving property market, estate agents face numerous challenges—from managing client turnover and tracking leads…
Read More
Home and Living

DeWalt: An Indispensable Helper During Your Move

Moving is a process that many of us experience with a mix of excitement and anxiety. From packing to unpacking, transporting to setting up furniture, every detail requires attention and effort. In such situations, having a reliable helper like DeWalt tools can significantly simplify and speed up the moving process https://www.ukplanettools.co.uk/dewalt/. 1. Packing and Disassembling…
Read More
for sale sign london
Overseas Property

Exploring Homes for Sale in Spain: A Guide for International Buyers

Spain has long been a top destination for international buyers looking to invest in real estate. Its combination of sunny beaches, rich culture, delicious cuisine, and vibrant cities makes it a favorite for those seeking both a holiday retreat and a valuable investment. With a growing market and diverse options, homes for sale in Spain…
Read More
Home and Living

10 Tips for Moving Home

Moving home is an exciting yet challenging experience, requiring careful planning and organization. The moving process can be stressful if not handled properly, from sorting belongings to managing time. These 10 tips aim to make your move smooth and stress-free, helping you easily settle into your new space. 1. Start Planning Early The earlier you…
Read More