UK House Price Index summary: July 2019
Published 18 September 2019
© Crown copyright 2019
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-summary-july-2019/uk-house-price-index-summary-july-2019
1. Headline statistics for July 2019
the average price of a property in the UK was
£232,710
the annual price change for a property in the UK was
0.7%
the monthly price change for a property in the UK was
0.5%
the monthly index figure (January 2015 = 100) for the UK was
122.1
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read Revisions to the UK HPI data.
Next publication of UK HPI
The August 2019 UK HPI will be published at 9.30am on Wednesday 16 October 2019. See the calendar of release dates.
2. Economic statement
UK house prices grew by 0.7% in the year to July 2019, down from 1.4% in June 2019. This is the lowest annual growth rate for the UK since September 2012, when house prices increased by 0.4%. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.5% between June 2019 and July 2019, compared with a rise of 1.2% during the same period a year earlier (June 2018 and July 2018).
House price growth was strongest in Wales where prices increased by 4.2% in the year to July 2019, down slightly from 4.3% in the year to June 2019. The lowest annual growth was in the North East, where prices fell by 2.9% over the year to July 2019, followed by the South East where prices fell by 2.0% over the year.
The Royal Institution of Chartered Surveyors’ (RICS) July 2019 UK Residential Market Survey reported that new buyer enquiries picked up slightly for the second consecutive month. Despite this modest improvement in demand, newly agreed sales edged down a fraction across the UK over the month. Alongside this, new instructions to sell were unchanged for the second successive report. This follows a string of eleven consecutive monthly declines in fresh listings.
The August Inflation Report from the Bank of England reported that the housing market remains weak but there are some signs that it has stabilised. Results from their recent NMG survey of households’ expectations reported that households expected house prices to decline a little over the next 12 months. Around 20% of households who are expecting to move to a house in the next two years reported having delayed moving due to Brexit-related uncertainty.
The UK Property Transactions Statistics for July 2019 showed that on a seasonally adjusted basis, the estimated number of transactions on residential properties with a value of £40,000 or greater was 86,630. This is 12.4% lower than a year ago. Between June 2019 and July 2019, transactions fell by 8.5%.
The Bank of England’s Money and Credit release reported that mortgage approvals for house purchase (an indicator of future lending) increased in July 2019 to 67,306. This was the strongest since July 2017, but remains within the very narrow range seen over the past 2 years.
3. Price changes
3.1 Annual price change
Annual price change for UK by country over the past 5 years
Download this chart’s data (CSV, 1KB)
Average house prices in the UK increased by 0.7% in the year to July 2019, down from 1.4% in June 2019.
At the country level, the largest annual price growth was recorded in Wales, increasing by 4.2% over the year to July 2019.
Scotland saw house prices increase by 1.4% over the last 12 months.
The slowest annual growth was in England where prices increased by 0.3% in the year to July 2019.
Northern Ireland house prices increased by 3.5% over the year to Quarter 2 (April to June) 2019.
3.2 Average price by country and government office region
Price, monthly change and annual change by country and government office region
| Country and government office region | Price | Monthly change | Annual change |
|---|---|---|---|
| England | £248,837 | 0.5% | 0.3% |
| Northern Ireland (Quarter 2 - 2019) | £136,767 | 0.8% | 3.5% |
| Scotland | £153,968 | 0.7% | 1.4% |
| Wales | £165,303 | 1.0% | 4.2% |
| East Midlands | £194,798 | 0.3% | 1.9% |
| East of England | £292,444 | 0.1% | -0.5% |
| London | £477,813 | 1.0% | -1.4% |
| North East | £127,466 | -2.1% | -2.9% |
| North West | £166,022 | 1.0% | 2.3% |
| South East | £320,454 | -0.7% | -2.0% |
| South West | £258,602 | 1.2% | 0.7% |
| West Midlands | £199,802 | 1.2% | 1.8% |
| Yorkshire and The Humber | £167,181 | 1.9% | 3.2% |
Download this table’s data (CSV, 1KB)
Price changes by country and government office region
On a non-seasonally adjusted basis, average house prices in the UK increased by 0.5% between June 2019 and July 2019, compared with a rise of 1.2% during the same period a year earlier (June 2018 and July 2018). On a seasonally adjusted basis, average house prices in the UK decreased by 0.3% between June 2019 and July 2019.
Note: The Northern Ireland figure represents a 3-month change and is not comparable with the other regions and countries.
3.3 Average price by property type
Average monthly price by property type
| Property type | July 2019 | July 2018 | Difference |
|---|---|---|---|
| Detached | £351,678 | £350,350 | 0.4% |
| Semi-detached | £220,387 | £217,959 | 1.1% |
| Terraced | £189,638 | £187,485 | 1.1% |
| Flat or maisonette | £205,537 | £206,118 | -0.3% |
| All | £232,710 | £231,187 | 0.7% |
Download this table’s data (CSV, 1KB)
4. Sales volumes
The amount of time between the sale of a property and the registration of this information varies. It typically ranges between 2 weeks and 2 months but can be longer. Volume figures for the most recent 2 months are not yet at a reliable level for reporting, so they are not included in the report. Published transactions for recent months will increase as later registered transactions are incorporated into the index.
Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read Revisions to the UK HPI data for more information.
4.1 Sales volumes
Number of sales volumes by country
| Country | May 2019 | May 2018 |
|---|---|---|
| England | 59,556 | 67,590 |
| Northern Ireland (Quarter 2 - 2019) | 5,210 | 6,189 |
| Scotland | 9,540 | 8,135 |
| Wales | 3,493 | 3,799 |
Download this table’s data (CSV, 1KB)
Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.
The estimate for May 2019 is calculated based on around 85% of the final registered transactions. The number of property transactions for May 2019 will increase as more transactions are incorporated into the index.
Comparing the provisional volume estimate for May 2018 with the provisional estimate for May 2019, volume transactions increased by 2.6% in England, 19.4% in Scotland, 3.7% in Wales and decreased by 1.8% in Northern Ireland.
UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, volume transactions fell by 0.4% in England and increased by 18.3% in Scotland and 4.6% in Wales in the year to May 2019.
4.2 Sales volumes for the UK over the past 5 years
Sales volumes for 2015 to 2019 by country: May
Download this table’s data (CSV, 1KB)
The estimate for May 2019 is calculated based on around 85% of the final registered transactions. The number of property transactions for May 2019 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.
Comparing the provisional volume estimate for May 2018 with the provisional estimate for May 2019, volume transactions increased by 4.2%.
UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, UK volume transactions increased by 1.6% in the year to May 2019.
5. Property status for UK
Transactions involving the creation of a new register, such as new builds, are more complex and need more time to process. This means they can take longer to appear in the land registers. The volume of new build transactions for the most recent 2 months are not at a reliable level for reporting the breakdown between new build and existing resold property, so they are not included in the report.
New build and existing resold property
| Property status | Average price May 2019 | Monthly change | Annual change |
|---|---|---|---|
| New build | £282,367 | -1.0% | 2.0% |
| Existing resold property | £226,263 | 0.4% | 1.2% |
Download this table’s data (CSV, 1KB)
Note: Since October 2017 release, amendments have been made to our estimation model when calculating our provisional estimate. Find out further information and the impact of this change in methods used to produce the UK HPI.
6. Buyer status for Great Britain
First time buyer and former owner occupier
For Great Britain only, Northern Ireland data is not available for buyer status.
| Type of buyer | Average price July 2019 | Monthly change | Annual change |
|---|---|---|---|
| First time buyer | £196,482 | 0.9% | 0.9% |
| Former owner occupier | £269,144 | 0.2% | 0.3% |
Download this table’s data (CSV, 1KB)
7. Funding status for Great Britain
Cash and mortgage
For Great Britain only, Northern Ireland data is not available for funding status.
| Funding status | Average price July 2019 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £221,487 | 0.5% | 0.5% |
| Mortgage | £242,565 | 0.6% | 0.7% |
Download this table’s data (CSV, 1KB)
8. Access the data
Download the data as CSV files or access it with our UK HPI tool.
Data revisions
View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.
The UK series has been revised back to 2016 as part of this release to correct some inconsistencies identified in the data caused by the chain-linking process. This has generally impacted the UK annual growth rate from 2016 by up to 0.1 percentage points. All other geographies are unaffected.
9. About the UK House Price Index
The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.
Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.
Find out more about the UK House Price Index.
10. Contact
Eileen Morrison, Data Services Team Leader, HM Land Registry
Email eileen.morrison@landregistry.gov.uk
Telephone 0300 006 5288
Aimee North, Head of Housing Market Indices, Office for National Statistics
Email aimee.north@ons.gov.uk
Telephone 01633 456400
Ciara Cunningham, Statistician for the Northern Ireland HPI
Email ciara.cunningham@finance-ni.gov.uk
Telephone 028 90 336035
Anne MacDonald, Land & Property Data Team, Registers of Scotland
Email Anne.MacDonald@ros.gov.uk
Telephone 0131 378 4991