UK House Price Index February 2019 shows falls of 0.8%

The February data shows, on average, house prices have fallen by 0.8% since January 2019. There has been an annual price rise of 0.6%, which makes the average property in the UK valued at £226,234.


England

In England, the February data shows on average, house prices have fallen by 0.6% since January 2019. The annual price rise of 0.4% takes the average property value to £242,964.

The regional data for England indicates that:

  • The North West experienced the greatest monthly price rise, up by 1.3%;
  • Yorkshire and The Humber saw the most significant monthly price fall, down by 2.5%;
  • the North West experienced the greatest annual price rise, up by 4.0%; and
  • London saw the largest annual price fall, down by 3.8%

Price change by region for England

Region

Average price February 2019

Monthly change % since January 2019

East Midlands

£190,199

-0.5

East of England

£290,137

0.5

London

£459,800

-2.0

North East

£125,397

-0.4

North West

£163,758

1.3

South East

£315,700

-1.7

South West

£253,730

-0.4

West Midlands

£196,152

0.4

Yorkshire and the Humber

£155,685

-2.5

Repossession sales by volume for England

The lowest number of repossession sales in December 2018 was in the East of England.

The highest number of repossession sales in December 2018 was in the North West.

Repossession sales

December 2018

East Midlands

34

East of England

15

London

33

North East

65

North West

111

South East

44

South West

22

West Midlands

58

Yorkshire and the Humber

81

England

463

Average price by property type for England

Property type

 

February 2019

February 2018

Difference %

Detached

£370,000

£366,752

0.9

Semi-detached

£228,795

£224,239

2.0

Terraced

£196,326

£194,649

0.9

Flat/maisonette

£219,910

£227,060

-3.1

All

£242,964

£241,989

0.4

Funding and buyer status for England

Transaction type

Average price

February 2019 

Annual price change % since February 2018

Monthly price change % since January 2019

Cash

£228,539

0.3

-0.7

Mortgage

£250,218

0.4

-0.5

First-time buyer

£203,518

0.0

-0.4

Former owner occupier

£276,126

0.7

-0.8

Building status for England

Building status*

Average price

December 2018 

Annual price change % since December 2017

Monthly price change % since

November 2018

New build

£301,483

2.4

1.0

Existing resold property

£243,102

1.8

-0.4

*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 2.0% since January 2019. An annual price fall of 3.8% takes the average property value to £459,800.

Average price by property type for London

Property type

 

February 2019

February 2018

Difference %

Detached

£892,443

£898,057

-0.6

Semi-detached

£568,874

£574,508

-1.0

Terraced

£484,380

£489,511

-1.0

Flat/maisonette

£398,579

£423,537

-5.9

All

£459,800

£477,860

-3.8

Funding and buyer status for London

Transaction type

Average price

February 2019 

Annual price change % since February 2018

Monthly price change % since January 2019

Cash

£482,156

-4.4

-1.7

Mortgage

£453,036

-3.6

-2.1

First-time buyer

£400,645

-4.5

-2.0

Former owner occupier

£521,583

-2.8

-2.0

Building status for London

Building status*

Average price December 2018 

Annual price change % since December 2017

Monthly price change % since November 2018

New build

£485,474

0.5

1.7

Existing resold property

£472,324

-0.8

-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 fallen by 0.2% since January 2019. An annual price rise of 4.1% takes the average property value to £159,559.

There were 42 repossession sales for Wales in December 2018.

Average price by property type for Wales

Property type

February 2019

February 2018

Difference %

Detached

£239,352

£232,291

3.0

Semi-detached

£154,272

£147,301

4.7

Terraced

£124,178

£117,732

5.5

Flat/maisonette

£112,715

£111,853

0.8

All

£159,559

£153,210

4.1

Funding and buyer status for Wales

Transaction type

Average price February 2019 

Annual price change % since February 2018

Monthly price change % since January 2019

Cash

£154,883

3.8

-0.1

Mortgage

£162,313

4.3

0.4

First-time buyer

£138,025

4.4

0.7

Former owner occupier

£184,589

3.9

-0.3

Building status for Wales

Building status*

Average price December 2018 

Annual price change % since December 2017

Monthly price change % since November 2018

New build

£212,416

6.3

1.8

Existing resold property

£158,814

5.2

1.1

*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 rose by 0.6% in the year to February 2019, down from 1.7% in the year to January 2019. This is the lowest annual growth for the UK since September 2012, when house prices increased by 0.4%.

The UK Property Transaction Statistics for February 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 101,780. This is 2.7% higher compared to a year ago. Between January 2019 and February 2019, transactions increased by 1.7%.

House prices grew fastest in Wales increasing by 4.1% in the year to February 2019. House prices in London fell by 3.8% over the year to February 2019, down from a fall of 2.2% in January 2019.

See the economic statement.

HM Land Registery

News stories direct from HM Land Registry.

You May Also Enjoy

Estate Agents should not all look the same
Estate Agent Talk

How to Become an Estate Agent with No Experience

Breaking into the property industry can seem intimidating – especially if you’ve never worked in it before. But the good news? You don’t need years of experience or fancy qualifications to start a career as an estate agent in the UK. In fact, many successful estate agents started with no background in property at all.…
Read More
buying at auction uk
Estate Agent Talk

9 Advantages of Selling Your House by Auction

Selling your house by auction might seem like a daunting prospect, but it comes with numerous advantages that can make it a highly attractive option. While the traditional method of selling through an estate agent has its place, auctions are increasingly becoming a popular choice for homeowners looking for a swift and reliable sale. Here…
Read More
Breaking News

Majority of Tenants Unsure How Changes Will Affect Them, Says LRG

With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
Read More
Home and Living

Perfume Storage Tips: How to Keep Your Fragrances Fresh

Perfumes are sensitive compositions that can be significantly affected by how they are stored. Proper storage ensures that your favorite fragrances stay fresh and maintain their intended scent profile. In this article, we’ll explore practical, fun, and effective tips to help you preserve your perfumes in perfect condition. Understanding the Sensitivity of Perfumes Perfumes are…
Read More
Breaking News

Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords

Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
Read More
Breaking News

Breaking Property News 02/04/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Read More