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.

Access the full UK HPI


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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