UK House Price Index May 2019
The May data shows, on average, house prices have risen by 0.1% since April 2019. There has been an annual price rise of 1.2%, which makes the average property in the UK valued at £229,431.
England
In England, the May data shows on average, house prices have risen by 0.1% since April 2019. The annual price rise of 1.0% takes the average property value to £245,817.
The regional data for England indicates that:
- The South West experienced the greatest monthly price rise, up by 1.2%;
- London saw the most significant monthly price fall, down by 2.5%;
- The North West experienced the greatest annual price rise, up by 3.4%; and
- London saw the largest annual price fall, down by 4.4%
Price change by region for England
| Region |
Average price May 2019 |
Monthly change % since April 2019 |
| East Midlands |
£189,622 |
-1.2 |
| East of England |
£291,239 |
0.7 |
| London |
£457,471 |
-2.5 |
| North East |
£127,885 |
-1.0 |
| North West |
£164,261 |
0.8 |
| South East |
£323,745 |
0.9 |
| South West |
£257,563 |
1.2 |
| West Midlands |
£196,489 |
0.2 |
| Yorkshire and the Humber |
£162,520 |
0.4 |
Repossession sales by volume for England
The lowest number of repossession sales in March 2019 was in the East of England.
The highest number of repossession sales in March 2019 was in the North West.
| Repossession sales |
March 2019 |
| East Midlands |
41 |
| East of England |
8 |
| London |
46 |
| North East |
88 |
| North West |
160 |
| South East |
56 |
| South West |
48 |
| West Midlands |
46 |
| Yorkshire and the Humber |
82 |
| England |
575 |
Average price by property type for England
| Property type |
May 2019 |
May 2018 |
Difference % |
| Detached |
£372,598 |
£368,006 |
1.2 |
| Semi-detached |
£232,266 |
£226,764 |
2.4 |
| Terraced |
£199,447 |
£197,039 |
1.2 |
| Flat/maisonette |
£221,261 |
£225,472 |
-1.9 |
| All |
£245,817 |
£243,445 |
1.0 |
Funding and buyer status for England
| Transaction type |
Average price May 2019 |
Annual price change % since May 2018 |
Monthly price change % since April 2019 |
| Cash |
£230,982 |
0.8 |
0.0 |
| Mortgage |
£253,270 |
1.0 |
0.2 |
| First-time buyer |
£206,075 |
0.8 |
0.2 |
| Former owner occupier |
£279,156 |
1.1 |
0.1 |
Building status for England
| Building status* |
Average price March 2019 |
Annual price change % since March 2018 |
Monthly price change % since February 2019 |
| New build |
-1.8 |
2.2 |
£303,848 |
| Existing resold property |
-0.3 |
1.2 |
£239,460 |
*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 2.5% since April 2019. An annual price fall of 4.4% takes the average property value to £457,471.
Average price by property type for London
| Property type
|
May 2019 |
May 2018 |
Difference % |
| Detached |
£847,998 |
£903,088 |
-6.1 |
| Semi-detached |
£558,559 |
£581,868 |
-4.0 |
| Terraced |
£482,970 |
£497,350 |
-2.9 |
| Flat/maisonette |
£399,012 |
£420,076 |
-5.0 |
| All |
£457,471 |
£478,485 |
-4.4 |
Funding and buyer status for London
| Transaction type |
Average price May 2019 |
Annual price change % since May 2018 |
Monthly price change % since April 2019 |
| Cash |
£478,536 |
-4.4 |
-3.0 |
| Mortgage |
£451,000 |
-4.4 |
-2.4 |
| First-time buyer |
£399,829 |
-4.5 |
-2.5 |
| Former owner occupier |
£516,842 |
-4.2 |
-2.6 |
Building status for London
| Building status* |
Average price March 2019 |
Annual price change % since March 2018 |
Monthly price change % since February 2019 |
| New build |
£478,374 |
-2.3 |
-1.8 |
| Existing resold property |
£460,724 |
-2.2 |
-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 1.4% since April 2019. An annual price rise of 3.0% takes the average property value to £159,428.
There were 50 repossession sales for Wales in March 2019.
Average price by property type for Wales
| Property type |
May 2019 |
May 2018 |
Difference % |
| Detached |
£239,603 |
£232,980 |
2.8 |
| Semi-detached |
£154,847 |
£149,003 |
3.9 |
| Terraced |
£123,738 |
£120,055 |
3.1 |
| Flat/maisonette |
£111,213 |
£111,177 |
0.0 |
| All |
£159,428 |
£154,756 |
3.0 |
Funding and buyer status for Wales
| Transaction type |
Average price May 2019 |
Annual price change % since May 2018 |
Monthly price change % since April 2019 |
| Cash |
£154,369 |
2.6 |
-1.8 |
| Mortgage |
£162,401 |
3.2 |
-1.2 |
| First-time buyer |
£137,900 |
3.2 |
-1.2 |
| Former owner occupier |
£184,456 |
2.9 |
-1.7 |
Building status for Wales
| Building status* |
Average price March 2019 |
Annual price change % since March 2018 |
Monthly price change % since February 2019 |
| New build |
£214,778 |
4.8 |
-0.8 |
| Existing resold property |
£156,950 |
3.9 |
0.7 |
*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 rose by 1.2% in the year to May 2019, down from 1.5% in the year to April 2019.
The UK Property Transaction Statistics for May 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 89,810. This is 11.3% lower compared to a year ago. Between April 2019 and May 2019, transactions decreased by 6.4%.
House prices grew fastest in the North West increasing by 3.4% in the year to May 2019. House prices in London fell by 4.4% over the year to May 2019, down from a fall of 1.7% in April 2019.
See the economic statement.
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