Press release

UK House Price Index (HPI) for June 2016

The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland.

The June data shows an annual price increase of 8.7% which takes the average property value in the UK to £213,927. Monthly house prices rose by 1.0% since May 2016. The monthly index figure for the UK was 112.2.

In England, the June data shows an annual price increase of 9.3% which takes the average property value to £229,383. Monthly house prices rose by 0.8% since May 2016.

Wales shows an annual price increase of 4.9% which takes the average property value to £145,238. Monthly house prices rose by 1.2% since May 2016.

London shows an annual price increase of 12.6% which takes the average property value to £472,204. Monthly house prices rose by 0.2% since May 2016.

The regional data indicates that:

  • East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 14.3%
  • the South East experienced the greatest monthly growth with an increase of 1.5%
  • the North East saw the lowest annual price growth with an increase of 1.5%
  • the West Midlands and the North East each saw the most significant monthly price fall with a movement of -0.2%

Following a strong increase in sales in March, UK home sales fell by 55.4% in April 2016, recovering slightly in May and June 2016. See the economic statement.

Sales during April 2016, the most up-to-date Land Registry figures available, show that:

  • the number of completed house sales in England fell by 33.4% to 42,938 compared with 64,467 in April 2015
  • the number of completed house sales in Wales fell by 26% to 2,394 compared with 3,237 in April 2015
  • the number of completed house sales in London fell by 49.7% to 4,368 compared with 8,678 in April 2015
  • there were 169 repossession sales in England in April 2016
  • there were 20 repossession sales in Wales in April 2016
  • the lowest number of repossession sales in England and Wales in April 2016 was in London

Access the full June UK HPI.

Price change by region for England

England by region Monthly change % since May 2016 Annual change % since June 2015 Average price June 2016
East Midlands 1.3 7.9 £171,462
East of England 1.3 14.3 £270,029
London 0.2 12.6 £472,204
North East -0.2 1.5 £124,470
North West 0.4 6.6 £148,320
South East 1.5 12.3 £309,149
South West 1.0 8.0 £234,987
West Midlands -0.2 6.4 £174,998
Yorkshire and The Humber 1.2 5.5 £149,706

Average price by property type for England

Average price by property type (England) June 2016 June 2015 Difference %
Detached £341,138 £314,484 8.5
Semi-detached £212,592 £194,747 9.2
Terraced £186,832 £171,013 9.3
Flat/maisonette £215,905 £195,288 10.6
All £229,383 £209,874 9.3

Price change for Wales

Wales Monthly change % since May 2016 Annual change % since June 2015 Average price June 2016
Wales 1.2 4.9 £145,238

Average price by property type for Wales

Average price by property type (Wales) June 2016 June 2015 Difference %
Detached £217,240 £207,700 4.6
Semi-detached £139,775 £133,363 4.8
Terraced £112,931 £107,664 4.9
Flat/maisonette £105,774 £99,543 6.3
All £145,238 £138,478 4.9

Average price by property type for London

Average price by property type (London) June 2016 June 2015 Difference %
Detached £881,572 £772,089 14.2
Semi-detached £566,611 £493,081 14.9
Terraced £491,678 £431,687 13.9
Flat/maisonette £415,257 £373,769 11.1
All £472,204 £419,474 12.6

Sales volumes for England

Month Sales 2016 England Sales 2015 England Difference %
February 58,675 58,038 1.1
March 102,597 67,489 52.0
April 42,938 64,467 -33.4

Sales volumes for Wales

Month Sales 2016 Wales Sales 2015 Wales Difference %
February 2,727 2,818 -3.2
March 5,002 3,358 49.0
April 2,394 3,237 -26.0

Sales volumes for London

Month Sales 2016 London Sales 2015 London Difference %
February 7,682 8,443 -9.0
March 14,783 9,202 60.6
April 4,368 8,678 -49.7

Funding, buyer and building status for England

England Monthly change % Annual change % Average price
Cash 1.0 8.7 £215,534
Mortgage 0.8 9.6 £236,363
First time buyer 0.6 9.3 £192,987
Former owner occupier 1.0 9.3 £259,780
New build -4.6 9.2 £268,703
Existing resold property 1.6 9.6 £227,377

Funding, buyer and building status for Wales

Wales Monthly change % Annual change % Average price
Cash 2.0 5.1 £142,348
Mortgage 0.8 4.7 £146,945
First time buyer 1.0 4.7 £125,590
Former owner occupier 1.5 5.1 £168,116
New build -4.2 3.9 £178,598
Existing resold property 1.9 5.3 £143,625

Funding, buyer and building status for London

London Monthly change % Annual change % Average price
Cash 0.1 11.5 £495,613
Mortgage 0.2 12.9 £464,983
First time buyer -0.1 12.5 £412,474
Former owner occupier 0.4 12.6 £533,313
New build -4.9 12.1 £461,789
Existing resold property 1.0 13.0 £474,921

Repossession

Repossession sales April 2016
East Midlands 10
East of England 7
London 4
North East 32
North West 44
South East 14
South West 8
West Midlands 19
Yorkshire and The Humber 31
England 169
Wales 20

Notes to editors

  1. The UK House Price Index (HPI) is published on the second or third Tuesday of each month with Northern Ireland figures updated quarterly. The July 2016 UK HPI will be published at 9.30am on 13 September 2016. A calendar of release dates is available.

  2. Data for the UK HPI is provided by Land Registry, Registers of Scotland, Land & Property Services Northern Ireland and the Valuation Office Agency.

  3. The UK HPI is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. It applies a hedonic regression model that uses the various sources of data on property price, in particular Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used ONS website.

  4. The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three month moving average has been applied to the latest estimate (June 2016 report) to remove some of this volatility.

  5. Work has been taking place over the past two years to develop a single, official HPI that reflects the final transaction price for sales of residential property in the UK. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.

  6. Information on residential property transactions for England and Wales, collected as part of the official registration process, is provided by Land Registry for properties that are sold for full market value.

  7. The Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (i.e. detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (i.e. using a mortgage) or as a non-financed transaction (cash purchase).

  8. Repossession data is based on the number of transactions lodged with Land Registry by lenders exercising their power of sale.

  9. For England this is shown as volumes of repossessions recorded by Government Office Region. For Wales there is a headline figure for the number of repossessions recorded in Wales.

  10. The data can be downloaded as a .csv file. Repossession data prior to April 2016 is not available. Find out more information about Repossessions.

  11. Background tables of the raw and cleansed aggregated data, in Excel and CSV formats, are also published monthly although Northern Ireland is on a quarterly basis. They are available for free use and re-use under the Open Government Licence.

  12. As a government department established in 1862, executive agency and trading fund responsible to the Secretary of State for Business, Energy and Industrial Strategy, Land Registry keeps and maintains the Land Register for England and Wales. The Land Register has been open to public inspection since 1990.

  13. With the largest transactional database of its kind detailing more than 24 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.

  14. For further information about Land Registry visit www.gov.uk/land-registry.

  15. Follow us on Twitter @LandRegGov, our blog, LinkedIn and Facebook.

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