UK House Price Index January 2020
April 1, 2020
The January data shows:
-
on average, house prices have fallen by 1.1% since December 2019
-
there has been an annual price rise of 1.3%, which makes the average property in the UK valued at £231,185.
England
In England, the January data shows on average, house prices have fallen by 1.2% since December 2019. The annual price rise of 1.1% takes the average property value to £247,355.
The regional data for England indicates that:
-
The West Midlands experienced the greatest monthly price rise, up by 0.4%
-
The North East saw the most significant monthly price fall, down by 2.6%
-
Yorkshire and the Humber experienced the greatest annual price rise, up by 3.1%
-
The East of England saw the lowest annual price growth, down by 0.6%
Price change by region for England
| Region |
Average price January 2020 |
Monthly change % since December 2019 |
| East Midlands |
£195,707 |
-0.4 |
| East of England |
£286,999 |
-2.2 |
| London |
£476,588 |
-1.1 |
| North East |
£126,592 |
-2.6 |
| North West |
£164,769 |
-1.5 |
| South East |
£320,700 |
-1.2 |
| South West |
£254,320 |
-1.8 |
| West Midlands |
£200,628 |
0.4 |
| Yorkshire and the Humber |
£165,383 |
-0.9 |
Repossession sales by volume for England
The lowest number of repossession sales in November 2019 was in the East of England.
The highest number of repossession sales in November 2019 was in the North West.
| Repossession sales |
November 2019 |
| East Midlands |
45 |
| East of England |
15 |
| London |
53 |
| North East |
107 |
| North West |
135 |
| South East |
48 |
| South West |
53 |
| West Midlands |
58 |
| Yorkshire and The Humber |
89 |
| England |
603 |
Average price by property type for England
| Property type |
January 2020 |
January 2019 |
Difference % |
| Detached |
£371,605 |
£374,559 |
-0.8 |
| Semi-detached |
£235,441 |
£229,019 |
2.8 |
| Terraced |
£201,669 |
£196,453 |
2.7 |
| Flat/maisonette |
£221,053 |
£223,908 |
-1.3 |
| All |
£247,355 |
£244,641 |
1.1 |
Funding and buyer status for England
| Transaction type |
Average price January 2020 |
Annual price change % since January 2019 |
Monthly price change % since December 2019 |
| Cash |
£231,059 |
0.3 |
-1.8 |
| Mortgage |
£255,474 |
1.5 |
-1.0 |
| First-time buyer |
£207,539 |
1.4 |
-1.3 |
| Former owner occupier |
£280,684 |
0.8 |
-1.1 |
Building status for England
| Building status* |
Average price November 2019 |
Annual price change % since November 2018 |
Monthly price change % since October 2019 |
| New build |
£296,789 |
0.0 |
-4.9 |
| Existing resold property |
£245,651 |
0.7 |
0.2 |
*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 1.1% since December 2019. An annual price rise of 1.4% takes the average property value to £476,588.
Average price by property type for London
| Property type
|
January 2020 |
January 2019 |
Difference % |
| Detached |
£880,878 |
£909,861 |
-3.2 |
| Semi-detached |
£584,072 |
£578,054 |
1.0 |
| Terraced |
£505,237 |
£488,264 |
3.5 |
| Flat/maisonette |
£414,346 |
£410,934 |
0.8 |
| All |
£476,588 |
£470,067 |
1.4 |
Funding and buyer status for London
| Transaction type |
Average price January 2020 |
Annual price change % since January 2019 |
Monthly price change % since December 2019 |
| Cash |
£497,529 |
1.0 |
-1.6 |
| Mortgage |
£470,075 |
1.5 |
-0.9 |
| First-time buyer |
£415,365 |
1.2 |
-1.4 |
| Former owner occupier |
£540,500 |
1.7 |
-0.6 |
Building status for London
| Building status* |
Average price November 2019 |
Annual price change % since November 2018 |
Monthly price change % since October 2019 |
| New build |
£464,031 |
-2.7 |
-6.3 |
| Existing resold property |
£471,185 |
-1.0 |
-0.3 |
*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 2.9% since December 2019. An annual price rise of 2.0% takes the average property value to £161,719.
There were 58 repossession sales for Wales in November 2019.
Average price by property type for Wales
| Property type |
January 2020 |
January 2019 |
Difference % |
| Detached |
£241,806 |
£240,917 |
0.4 |
| Semi-detached |
£159,209 |
£152,999 |
4.1 |
| Terraced |
£124,273 |
£121,828 |
2.0 |
| Flat/maisonette |
£114,031 |
£113,240 |
0.7 |
| All |
£161,719 |
£158,548 |
2.0 |
Funding and buyer status for Wales
| Transaction type |
Average price January 2020 |
Annual price change % since January 2019 |
Monthly price change % since December 2019 |
| Cash |
£156,396 |
1.3 |
-3.5 |
| Mortgage |
£164,837 |
2.4 |
-2.6 |
| First-time buyer |
£139,590 |
2.2 |
-3.2 |
| Former owner occupier |
£187,540 |
1.8 |
-2.6 |
Building status for Wales
| Building status* |
Average price November 2019 |
Annual price change % since November 2018 |
Monthly price change % since October 2019 |
| New build |
£217,500 |
4.8 |
-2.3 |
| Existing resold property |
£166,399 |
5.7 |
2.2 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
UK house prices increased by 1.3% in the year to January 2020, down from 1.7% in December 2019. On a non-seasonally adjusted basis, average house prices in the UK decreased by 1.1% between December 2019 and January 2020, compared with a fall of 0.6% during the same period a year earlier (December 2018 and January 2019).
The UK Property Transaction Statistics for January 2020 showed that on a seasonally adjusted basis, the estimated number of transactions on residential properties with a value of £40,000 or greater was 102,810. This is 5.2% higher than a year ago. Between December 2019 and January 2020, transactions increased by 4.1%
House price growth was strongest in Northern Ireland where prices increased by 2.5% over the year to Quarter 4 (October to December) 2019. The lowest annual growth was in the East of England, where prices decreased by 0.6% over the year to January 2020, followed by the South East where prices fell by 0.5% over the year.
You May Also Enjoy
How to market to Estate Agents UK
The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More 
Preventative Measures to Reduce the Risk of Emergencies in a Rental Home
Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More 
Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth
Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More 
Breaking Property News 15/11/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Digital transformation of real estate drives profitability Press Release – London 14th November 2024 – Following the October budget, estate agents across the UK are seeking new ways to adapt to an evolving property market. Rising costs and shifting buyer expectations have driven a need…
Read More 
Labour’s Vision for Homeowners and Renters: Key Changes to Expect
The UK housing market continues to be a complex and often challenging landscape for both homeowners and renters. Labour’s vision for housing reform aims to address longstanding issues in affordability, security, and sustainability, setting out a series of policy proposals that could reshape the property market. Whether you are a homeowner, a renter, or an…
Read More 
The pros and cons of renting to students: is it the right choice for you?
Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More