UK House Price Index January 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.

Access the full UK HPI

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.