© Crown copyright 2018
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: firstname.lastname@example.org.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/publications/uk-house-price-index-wales-june-2018/uk-house-price-index-wales-june-2018
1. Headline statistics for June 2018
the average price of a property in Wales was
the annual price change of a property for Wales was
the monthly price change of a property for Wales was
the index figure for Wales (January 2015 = 100) was
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Next publication of UK HPI
The July 2018 UK HPI will be published at 9.30am on Wednesday 19 September 2018. See the calendar of release dates.
2. Economic statement
Wales house prices grew by 4.3% in the year to June 2018, down from 4.7% in the year to May 2018. Wales house prices are growing faster than the UK annual rate of 3.0% in the year to June 2018. On a seasonally adjusted basis, average house prices in Wales increased by 0.8% between May 2018 and June 2018, compared with an increase of 1.2% during the same period a year earlier (May 2017 and June 2017).
Land Transaction Tax statistics: April to June 2018 showed that on a non-seasonally adjusted basis, in Q2 2018, the number of transactions on residential properties with a value of £40,000 or greater in Wales was 12,910. This is down 6.5% compared to Q2 2017 as published in UK Property Transaction Statistics.Some caution is advised in comparing this series over this period as slightly different methodologies may be applied by the different organisations.
In Wales, semi-detached houses showed the biggest increase, rising by 5.6% in the year to June 2018 to £152,000. The average price of Flats and maisonettes increased by 2.7% in the year to June 2018 to £114,000, the smallest increase of all property types.
House prices have increased over the last year in 21 out of 22 local authority areas. Newport continues to show strong growth, increasing by 10.2% in the year to June 2018 to £174,000.
As with other indicators in the Housing Market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.
3. Price change
3.1 Annual price change
Annual price change for Wales over the past 5 years
In Wales, the average price increased by 4.3% in the year to June 2018 (down from 4.7% in May 2018).
Annual price change by local authority for Wales
Low numbers of sales transactions in some local authorities can lead to volatility in the series.
While we make efforts to account for this volatility, the change in price in these local levels can be influenced by the type and number of properties sold in any given period.
Geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements.
|Local authorities||June 2018||June 2017||Difference|
|Isle of Anglesey||£157,959||£164,943||-4.2%|
|Neath Port Talbot||£112,821||£106,822||5.6%|
|Rhondda Cynon Taf||£107,968||£103,621||4.2%|
|Vale of Glamorgan||£217,692||£207,458||4.9%|
Average price by local authority for Wales
In June 2018, the most expensive area to live in was Monmouthshire, where the cost of an average house was £244,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where an average house cost £84,000.
3.2 Average price change by property type
Average price change by property type for Wales
|Property type||June 2018||June 2017||Difference|
|Flat or maisonette||£114,043||£110,994||2.7%|
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 two 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 by local authority
Sales volumes for Wales by local authority
|Local authorities||April 2018||April 2017||Difference|
|Isle of Anglesey||78||76||2.6%|
|Neath Port Talbot||120||152||-21.1%|
|Rhondda Cynon Taf||290||298||-2.7%|
|Vale of Glamorgan||135||197||-31.5%|
Note: The annual % change in the ‘Difference’ column will be influenced primarily by level of completeness of the latest month’s data reported and does not necessarily reflect the genuine trends.
4.2 Sales volumes
Sales volumes for Wales over the past 5 years
|Date||Sales volumes for Wales|
Download this chart’s data (CSV, 1KB)
5. Property status
New build and existing resold property for Wales
|Property status||Average price April 2018||Monthly change||Annual change|
|Existing resold property||£150,819||-0.3%||2.5%|
Note: since the 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
First time buyer and former owner occupier for Wales
|Type of buyer||Average price June 2018||Monthly change||Annual change|
|First time buyer||£135,691||1.9%||4.2%|
|Former owner occupier||£181,538||1.4%||4.4%|
7. Funding status
Cash and mortgage indicator for Wales
|Funding status||Average price June 2018||Monthly change||Annual change|
8. Repossession sales volume
Due to a period of 2 to 8 weeks between completion and registration of sales, repossession volume figures for the most recent two months are not yet complete, so they are not included in the report.
Repossession sales volume
|Country||Repossession sales volume April 2018|
Download the data for England and Wales (CSV, 7KB)
9. Access the data
The May 2018 estimate for Wales has been revised upwards by £5,400 and the annual growth rate by 3.7 percentage points as part of this release. In constructing our first estimate for a month we consider the first and second estimate for the previous month. Land Transaction Tax replaced UK Stamp Duty Land Tax in Wales from April 2018 which had an impact on the mix of data transacted for that period. This then impacted our first estimate for May 2018 which was based on 40% of available transactions. This estimate has now been revised as more data has been incorporated into the index.
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 for Wales queries
David Lockett, Product Manager, HM Land Registry
Telephone 0300 0068317