UK House Price Index November 2018
The November data shows, on average, house prices have fallen by 0.1% since October 2018. There has been an annual price rise of 2.8%, which makes the average property in the UK valued at £230,630.
England
In England, the November data shows on average, house prices have fallen by 0.1% since October 2018. The annual price rise of 2.6% takes the average property value to £247,430.
The regional data for England indicates that:
- the North East experienced the greatest monthly price rise, up by 1.2%;
- Yorkshire and the Humber saw the most significant monthly price fall, down by 1.3%;
- the West Midlands experienced the greatest annual price rise, up by 4.6%; and
- London saw the largest annual price fall, down by 0.7%
Price change by region for England
| Region |
Average price November 2018 |
Monthly change % since October 2018 |
| East Midlands |
£192,061 |
0.3 |
| East of England |
£294,530 |
0.8 |
| London |
£472,901 |
-1.2 |
| North East |
£132,257 |
1.2 |
| North West |
£162,717 |
-0.6 |
| South East |
£323,876 |
-0.1 |
| South West |
£260,177 |
1.1 |
| West Midlands |
£197,387 |
-0.4 |
| Yorkshire and the Humber |
£160,155 |
-1.3 |
Repossession sales by volume for England
The lowest number of repossession sales in September 2018 was in the East of England.
The highest number of repossession sales in September 2018 was in the North West.
| Repossession sales |
September 2018 |
| East Midlands |
29 |
| East of England |
7 |
| London |
34 |
| North East |
62 |
| North West |
98 |
| South East |
35 |
| South West |
29 |
| West Midlands |
51 |
| Yorkshire and the Humber |
74 |
| England |
419 |
Average price by property type for England
| Property type
|
November 2018 |
November 2017 |
Difference % |
| Detached |
£375,538 |
£363,065 |
3.4 |
| Semi-detached |
£231,264 |
£223,741 |
3.4 |
| Terraced |
£201,387 |
£194,051 |
3.8 |
| Flat/maisonette |
£225,092 |
£227,222 |
-0.9 |
| All |
£247,430 |
£241,086 |
2.6 |
Funding and buyer status for England
| Transaction type |
Average price November 2018 |
Annual price change % since November 2017 |
Monthly price change % since October 2018 |
| Cash |
£232,942 |
2.4 |
-0.1 |
| Mortgage |
£254,731 |
2.7 |
-0.1 |
| First-time buyer |
£207,538 |
2.3 |
0.0 |
| Former owner occupier |
£280,908 |
2.9 |
-0.1 |
Building status for England
| Building status* |
Average price September 2018 |
Annual price change % since September 2017 |
Monthly price change % since August 2018 |
| New build |
£305,763 |
3.7 |
-2.1 |
| Existing resold property |
£245,062 |
2.8 |
-0.1 |
*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices have fallen by 1.2% since October 2018. An annual price fall of 0.7% takes the average property value to £472,901.
Average price by property type for London
| Property type
|
November 2018 |
November 2017 |
Difference % |
| Detached |
£892,829 |
£892,900 |
0.0 |
| Semi-detached |
£572,207 |
£573,421 |
-0.2 |
| Terraced |
£493,579 |
£488,341 |
1.1 |
| Flat/maisonette |
£414,889 |
£421,807 |
-1.6 |
| All |
£472,901 |
£476,290 |
-0.7 |
Funding and buyer status for London
| Transaction type |
Average price November 2018 |
Annual price change % since November 2017 |
Monthly price change % since October 2018 |
| Cash |
£496,555 |
-1.3 |
-0.8 |
| Mortgage |
£465,668 |
-0.5 |
-1.3 |
| First-time buyer |
£413,744 |
-0.9 |
-1.1 |
| Former owner occupier |
£533,580 |
-0.5 |
-1.3 |
Building status for London
| Building status* |
Average price September 2018 |
Annual price change % since September 2017 |
Monthly price change % since August 2018 |
| New build |
£488,763 |
-0.9 |
-3.9 |
| Existing resold property |
£475,739 |
-1.5 |
-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.
Wales
Wales shows, on average, house prices have risen by 0.2% since October 2018. An annual price rise of 5.5% takes the average property value to £161,499.
There were 39 repossession sales for Wales in September 2018.
Average price by property type for Wales
| Property type |
November 2018 |
November 2017 |
Difference % |
| Detached |
£243,487 |
£230,858 |
5.5 |
| Semi-detached |
£155,254 |
£147,383 |
5.3 |
| Terraced |
£126,244 |
£118,091 |
6.9 |
| Flat/maisonette |
£112,551 |
£111,842 |
0.6 |
| All |
£161,499 |
£153,109 |
5.5 |
Funding and buyer status for Wales
| Transaction type |
Average price November 2018 |
Annual price change % since November 2017 |
Monthly price change % since October 2018 |
| Cash |
£156,897 |
4.9 |
0.2 |
| Mortgage |
£164,230 |
5.8 |
0.3 |
| First-time buyer |
£139,568 |
5.4 |
0.4 |
| Former owner occupier |
£187,043 |
5.6 |
0.1 |
Building status for Wales
| Building status* |
Average price September 2018 |
Annual price change % since September 2017 |
Monthly price change % since August 2018 |
| New build |
£213,625 |
7.5 |
-1.7 |
| Existing resold property |
£157,800 |
4.9 |
-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.
UK house prices rose by 2.8% in the year to November 2018, up slightly from 2.7% in the year to October 2018.
The UK Property Transaction Statistics for November 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 100,930. This is 0.5% lower compared with a year ago. Between October and November 2018, transactions increased by 0.1%.
House prices grew fastest in the West Midlands region, increasing by 4.6% in the year to November 2018. House prices in London fell by 0.7% in the year to November 2018. London house prices have been falling over the year since July 2018.
See the economic statement.
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