November 2019 UK HPI from HM Land Registry

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 1.0%;
  • The West Midlands experienced the greatest annual price rise, up by 4.0%; and
  • 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 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 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 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 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 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

 


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.

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