UK House Price Index summary: March 2019
Published 22 May 2019
© Crown copyright 2019
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-summary-march-2019/uk-house-price-index-summary-march-2019
1. Headline statistics for March 2019
the average price of a property in the UK was
£226,798
the annual price change for a property in the UK was
1.4%
the monthly price change for a property in the UK was
-0.2%
the monthly index figure (January 2015 = 100) for the UK was
119.0
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 April 2019 UK HPI will be published at 9.30am on Wednesday 19 June 2019. See the calendar of release dates.
2. Economic statement
UK house prices grew by 1.4% in the year to March 2019, up from 1.0% in the year to February 2019. On a non-seasonally adjusted basis, average house prices in the UK fell by 0.2% between February 2019 and March 2019, compared with a fall of 0.6% during the same period a year earlier (February 2018 and March 2018).
House price growth was strongest in Yorkshire and The Humber where prices increased by 3.6% in the year to March 2019, followed by Northern Ireland, increasing by 3.5% over the year to Quarter 1 (Jan to Mar) 2019. The lowest annual growth was in London, where prices fell by 1.9% over the year to March 2019, up from a fall of 2.7% in February 2019.
The Bank of England’s May 2019 inflation report noted that activity in the housing market has remained slow, with Brexit-related uncertainty, affordability constraints and policy changes made to the buy to let market reducing demand. An increase in housing supply may have also had an impact on prices.
The Royal Institution of Chartered Surveyors’ (RICS) March 2019 UK Residential Market Survey results show that demand (new buyer enquiries) fell for the eighth consecutive month with a continued decline in new instructions also reported.
The UK Property Transactions Statistics for March 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 101,830. This is 6.9% higher than a year ago. Between February 2019 and March 2019, transactions increased by 1.4%.
The Bank of England’s Money and Credit release showed that mortgage approvals for house purchase (an indicator of future lending) fell by around 3,000 in March 2019, to 62,300.
3. Price changes
3.1 Annual price change
Annual price change for UK by country over the past 5 years
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Average house prices in the UK increased by 1.4% in the year to March 2019 (up from 1.0% in February 2019).
At the country level, the largest annual price growth was recorded in Northern Ireland, increasing by 3.5% over the year to Quarter 1 (Jan to Mar) 2019.
Scotland saw house prices increase by 3.3% over the last 12 months.
The average price in Wales increased by 3.0% over the year.
The slowest annual growth was in England where prices increased by 1.1% in the year to March 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 | £243,128 | -0.5% | 1.1% |
| Northern Ireland (Quarter 1 - 2019) | £134,811 | -1.0% | 3.5% |
| Scotland | £149,461 | 1.9% | 3.3% |
| Wales | £158,696 | 0.0% | 3.0% |
| East Midlands | £190,171 | -0.4% | 2.9% |
| East of England | £286,611 | -1.1% | 0.0% |
| London | £463,283 | -0.4% | -1.9% |
| North East | £123,046 | -1.1% | -0.8% |
| North West | £159,471 | -1.7% | 2.5% |
| South East | £318,491 | -0.6% | -0.4% |
| South West | £253,752 | -0.3% | 1.3% |
| West Midlands | £196,571 | -0.5% | 3.4% |
| Yorkshire and The Humber | £162,129 | 1.8% | 3.6% |
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Price changes by country and government office region
On a non-seasonally adjusted basis, average house prices in the UK fell by 0.2% between February 2019 and March 2019, compared with a fall of 0.6% during the same period a year earlier (February 2018 and March 2018). On a seasonally adjusted basis, average house prices in the UK increased by 0.1% between February 2019 and March 2019.
Note that the Northern Ireland figure represents a three-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 | March 2019 | March 2018 | Difference |
|---|---|---|---|
| Detached | £346,474 | £339,362 | 2.1% |
| Semi-detached | £215,998 | £210,466 | 2.6% |
| Terraced | £181,995 | £180,891 | 0.6% |
| Flat or maisonette | £200,335 | £200,056 | 0.1% |
| All | £226,798 | £223,612 | 1.4% |
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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 | January 2019 | January 2018 |
|---|---|---|
| England | 49,745 | 57,138 |
| Northern Ireland (Quarter 1 - 2019) | 4,272 | 5,471 |
| Scotland | 6,516 | 6,111 |
| Wales | 2,852 | 3,170 |
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Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.
The estimate for January 2019 is calculated based on around 85% of the final registered transactions. The number of property transactions for January 2019 will increase as more transactions are incorporated into the index.
Comparing the provisional volume estimate for January 2018 with the provisional estimate for January 2019, volume transactions fell by 1.7% in England and 6.0% in Northern Ireland and grew by 10.3% in Scotland and 0.6% in Wales.
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 3.3% in England, 2.2% in Wales and grew by 11.1% in Scotland in the year to January 2019.
4.2 Sales volumes for the UK over the past 5 years
Sales volumes for 2015 to 2019 by country: January
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The estimate for January 2019 is calculated based on around 85% of the final registered transactions. The number of property transactions for January 2019 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.
Comparing the provisional volume estimate for January 2018 with the provisional estimate for January 2019, volume transactions fell by 0.8%.
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 fell by 2.1% in the year to January 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 January 2019 | Monthly change | Annual change |
|---|---|---|---|
| New build | £285,284 | -0.6% | 1.7% |
| Existing resold property | £224,631 | -0.7% | 1.9% |
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 March 2019 | Monthly change | Annual change |
|---|---|---|---|
| First-time buyer | £190,999 | -0.3% | 1.2% |
| Former owner occupier | £263,513 | -0.2% | 1.6% |
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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 March 2019 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £215,907 | -0.3% | 1.3% |
| Mortgage | £236,712 | -0.2% | 1.5% |
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8. Housing transaction distributions
Between October 2018 and December 2018, there were 263,377 property sales.
The most popular price range for:
- England was £150,000 to £174,999 – 18,272 properties were purchased
- Northern Ireland was £125,000 to £149,999 – 1,141 properties were purchased
- Scotland was £75,000 to £99,999 – 3,228 properties were purchased
- Wales was £125,000 to £149,999 – 1,898 properties were purchased
The charts below show the distribution of housing transactions for Q4 (October to December) 2018 for countries of the UK. Data is presented in bands of £25,000 up to £1 million, followed by larger bands up to and over £10 million.
Transactions included in this analysis are consistent with those published in the UK House Price Index on 22 May 2019. In line with the UK HPI revisions policy, the number of transactions will increase as more data are incorporated into the index, which would also impact the distributions presented in this analysis.
England housing transactions
| Price band | Housing transactions |
|---|---|
| Less than £25,000 | 67 |
| £25,000 to £49,999 | 1,448 |
| £50,000 to £74,999 | 5,759 |
| £75,000 to £99,999 | 10,658 |
| £100,000 to £124,999 | 13,637 |
| £125,000 to £149,999 | 17,764 |
| £150,000 to £174,999 | 18,272 |
| £175,000 to £199,999 | 17,427 |
| £200,000 to £224,999 | 14,776 |
| £225,000 to £249,999 | 15,279 |
| £250,000 to £274,999 | 13,665 |
| £275,000 to £299,999 | 12,168 |
| £300,000 to £324,999 | 10,139 |
| £325,000 to £349,999 | 8,995 |
| £350,000 to £374,999 | 7,726 |
| £375,000 to £399,999 | 7,138 |
| £400,000 to £424,999 | 5,328 |
| £425,000 to £449,999 | 4,655 |
| £450,000 to £474,999 | 4,103 |
| £475,000 to £499,999 | 3,646 |
| £500,000 to £524,999 | 2,698 |
| £525,000 to £549,999 | 2,476 |
| £550,000 to £574,999 | 2,067 |
| £575,000 to £599,999 | 2,073 |
| £600,000 to £624,999 | 1,728 |
| £625,000 to £649,999 | 1,403 |
| £650,000 to £674,999 | 1,237 |
| £675,000 to £699,999 | 1,078 |
| £700,000 to £724,999 | 863 |
| £725,000 to £749,999 | 820 |
| £750,000 to £774,999 | 749 |
| £775,000 to £799,999 | 615 |
| £800,000 to £824,999 | 587 |
| £825,000 to £849,999 | 512 |
| £850,000 to £874,999 | 525 |
| £875,000 to £899,999 | 408 |
| £900,000 to £924,999 | 382 |
| £925,000 to £949,999 | 324 |
| £950,000 to £974,999 | 345 |
| £975,000 to £999,999 | 250 |
| £1,000,000 to £1,249,999 | 1,495 |
| £1,250,000 to £1,499,999 | 821 |
| £1,500,000 to £1,749,999 | 431 |
| £1,750,000 to £1,999,999 | 265 |
| £2,000,000 to £4,999,999 | 592 |
| £5,000,000 to £9,999,999 | 59 |
| Greater than £10,000,000 | 16 |
Northern Ireland housing transactions
| Price band | Housing transactions |
|---|---|
| less than £25,000 | 17 |
| £25,000 to £49,999 | 154 |
| £50,000 to £74,999 | 724 |
| £75,000 to £99,999 | 983 |
| £100,000 to £124,999 | 1,070 |
| £125,000 to £149,999 | 1,141 |
| £150,000 to £174,999 | 797 |
| £175,000 to £199,999 | 459 |
| £200,000 to £224,999 | 272 |
| £225,000 to £249,999 | 212 |
| £250,000 to £274,999 | 151 |
| £275,000 to £299,999 | 105 |
| £300,000 to £324,999 | 52 |
| £325,000 to £349,999 | 63 |
| £350,000 to £374,999 | 24 |
| £375,000 to £399,999 | 30 |
| £400,000 to £424,999 | 17 |
| £425,000 to £449,999 | 15 |
| £450,000 to £474,999 | 20 |
| £475,000 to £499,999 | 10 |
| Greater than £500,000 | 31 |
Scotland housing transactions
| Price band | Housing transactions |
|---|---|
| Less than £25,000 | 177 |
| £25,000 to £49,999 | 997 |
| £50,000 to £74,999 | 2,330 |
| £75,000 to £99,999 | 3,228 |
| £100,000 to £124,999 | 2,819 |
| £125,000 to £149,999 | 3,085 |
| £150,000 to £174,999 | 2,663 |
| £175,000 to £199,999 | 2,459 |
| £200,000 to £224,999 | 1,734 |
| £225,000 to £249,999 | 1,533 |
| £250,000 to £274,999 | 1,190 |
| £275,000 to £299,999 | 972 |
| £300,000 to £324,999 | 702 |
| £325,000 to £349,999 | 498 |
| £350,000 to £374,999 | 403 |
| £375,000 to £399,999 | 362 |
| £400,000 to £424,999 | 243 |
| £425,000 to £449,999 | 185 |
| £450,000 to £474,999 | 165 |
| £475,000 to £499,999 | 126 |
| £500,000 to £524,999 | 104 |
| £525,000 to £549,999 | 73 |
| £550,000 to £574,999 | 55 |
| £575,000 to £599,999 | 71 |
| £600,000 to £624,999 | 63 |
| £625,000 to £649,999 | 57 |
| £650,000 to £674,999 | 40 |
| £675,000 to £699,999 | 28 |
| £700,000 to £724,999 | 23 |
| £725,000 to £749,999 | 21 |
| £750,000 to £774,999 | 20 |
| £775,000 to £799,999 | 15 |
| £800,000 to £824,999 | 20 |
| £825,000 to £849,999 | 14 |
| £850,000 to £874,999 | 11 |
| £875,000 to £899,999 | 8 |
| £900,000 to £924,999 | 5 |
| £925,000 to £949,999 | 8 |
| £950,000 to £974,999 | 4 |
| £975,000 to £999,999 | 3 |
| £1,000,000 to £1,249,999 | 20 |
| £1,250,000 to £1,499,999 | 9 |
| £1,500,000 to £1,749,999 | 8 |
| £1,750,000 to £1,999,999 | 2 |
| £2,000,000 to £4,999,999 | 3 |
Wales housing transactions
| Price band | Housing transactions |
|---|---|
| Less than £25,000 | 3 |
| £25,000 to £49,999 | 164 |
| £50,000 to £74,999 | 741 |
| £75,000 to £99,999 | 1,437 |
| £100,000 to £124,999 | 1,691 |
| £125,000 to £149,999 | 1,898 |
| £150,000 to £174,999 | 1,622 |
| £175,000 to £199,999 | 1,219 |
| £200,000 to £224,999 | 902 |
| £225,000 to £249,999 | 793 |
| £250,000 to £274,999 | 577 |
| £275,000 to £299,999 | 490 |
| £300,000 to £324,999 | 305 |
| £325,000 to £349,999 | 272 |
| £350,000 to £374,999 | 204 |
| £375,000 to £399,999 | 157 |
| £400,000 to £424,999 | 122 |
| £425,000 to £449,999 | 90 |
| £450,000 to £474,999 | 71 |
| £475,000 to £499,999 | 40 |
| £500,000 to £524,999 | 32 |
| £525,000 to £549,999 | 40 |
| £550,000 to £574,999 | 23 |
| £575,000 to £599,999 | 23 |
| £600,000 to £624,999 | 17 |
| £625,000 to £649,999 | 9 |
| £650,000 to £674,999 | 8 |
| £675,000 to £699,999 | 8 |
| £700,000 to £724,999 | 4 |
| £725,000 to £749,999 | 10 |
| £750,000 to £774,999 | 3 |
| £775,000 to £799,999 | 6 |
| £800,000 to £824,999 | 6 |
| £825,000 to £849,999 | 1 |
| £850,000 to £874,999 | 4 |
| £875,000 to £899,999 | 4 |
| £900,000 to £924,999 | 3 |
| £925,000 to £949,999 | 2 |
| £950,000 to £974,999 | 1 |
| £975,000 to £999,999 | 3 |
9. 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.
10. 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.
11. 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