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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.

Access the full UK HPI

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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HM Land Registery

News stories direct from HM Land Registry.

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