UK House Price Index Wales: October 2018
Published 19 December 2018
Applies to Wales
© Crown copyright 2018
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-wales-october-2018/uk-house-price-index-wales-october-2018
1. Headline statistics for October 2018
the average price of a property in Wales was
£160,874
the annual price change of a property for Wales was
3.8%
the monthly price change of a property for Wales was
-0.3%
the index figure for Wales (January 2015 = 100) was
118.2
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 November 2018 UK HPI will be published at 9.30am on Wednesday 16 January 2019. See the calendar of release dates.
2. Economic statement
Wales house prices grew by 3.8% in the year to October 2018, down from 5.3% in the year to September 2018. Wales house prices are growing faster than the UK annual rate of 2.7% in the year to October 2018. On a non-seasonally adjusted basis average house prices in Wales fell by 0.3% between September and October 2018, compared with an increase of 0.2% during the same period a year earlier. On a seasonally adjusted basis, average house prices in Wales decreased by 0.3% between September and October 2018.
The Land Transaction Tax statistics showed that on a non-seasonally adjusted basis, in the 3 months to October 2018, the number of transactions on residential properties with a value of £40,000 or greater in Wales was 14,920. This is down 1.6% compared with the 3 months to October 2017 as published in UK Property Transaction Statistics. Some caution is advised in comparing the series over this period as slightly different methodologies may be applied by the different organisations.
In Wales, flats and maisonettes showed the biggest increase, rising by 4.3% in the year to October 2018 to £117,000. The smallest increase of all property types was terraced houses, with an increase of 3.5% in the year to October 2018 to £124,000.
House prices have increased over the last year in 19 out of 22 local authority areas. Torfaen and Newport showed the strongest growth, increasing by 18.9% to £155, 000 and 14.5% to £186,000 in the year to October 2018.
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
Download this table’s data (CSV, 1KB)
In Wales, the average price increased by 3.8% in the year to October 2018 (down from 5.3% in September 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 | October 2018 | October 2017 | Difference |
|---|---|---|---|
| Blaenau Gwent | £92,515 | £86,620 | 6.8% |
| Bridgend | £148,690 | £148,880 | -0.1% |
| Caerphilly | £139,218 | £127,301 | 9.4% |
| Cardiff | £210,022 | £199,422 | 5.3% |
| Carmarthenshire | £147,517 | £138,579 | 6.4% |
| Ceredigion | £187,057 | £182,446 | 2.5% |
| Conwy | £159,784 | £161,572 | -1.1% |
| Denbighshire | £151,781 | £147,608 | 2.8% |
| Flintshire | £164,605 | £166,970 | -1.4% |
| Gwynedd | £160,894 | £152,819 | 5.3% |
| Isle of Anglesey | £179,162 | £166,050 | 7.9% |
| Merthyr Tydfil | £102,586 | £97,980 | 4.7% |
| Monmouthshire | £265,261 | £244,221 | 8.6% |
| Neath Port Talbot | £118,007 | £114,053 | 3.5% |
| Newport | £185,951 | £162,400 | 14.5% |
| Pembrokeshire | £166,731 | £165,988 | 0.4% |
| Powys | £197,226 | £177,389 | 11.2% |
| Rhondda Cynon Taf | £107,975 | £106,413 | 1.5% |
| Swansea | £148,394 | £143,572 | 3.4% |
| Torfaen | £155,174 | £130,548 | 18.9% |
| Vale of Glamorgan | £225,823 | £216,280 | 4.4% |
| Wrexham | £155,836 | £153,693 | 1.4% |
| Wales | £160,874 | £155,033 | 3.8% |
Download this table’s data (CSV, 1KB)
Average price by local authority for Wales
In October 2018, the most expensive area to live in was Monmouthshire, where the cost of an average house was £265,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where an average house cost £93,000.
3.2 Average price change by property type
Average price change by property type for Wales
| Property type | October 2018 | October 2017 | Difference | |
|---|---|---|---|---|
| Detached | £243,427 | £234,474 | 3.8% | |
| Semi-detached | £155,121 | £149,237 | 3.9% | |
| Terraced | £123,641 | £119,515 | 3.5% | |
| Flat or maisonette | £117,007 | £112,187 | 4.3% | |
| All | £160,874 | £155,033 | 3.8% |
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 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 | August 2018 | August 2017 |
|---|---|---|
| Blaenau Gwent | 91 | 70 |
| Bridgend | 210 | 232 |
| Caerphilly | 226 | 255 |
| Cardiff | 480 | 523 |
| Carmarthenshire | 243 | 253 |
| Ceredigion | 97 | 100 |
| Conwy | 214 | 242 |
| Denbighshire | 128 | 150 |
| Flintshire | 174 | 252 |
| Gwynedd | 157 | 164 |
| Isle of Anglesey | 93 | 113 |
| Merthyr Tydfil | 63 | 81 |
| Monmouthshire | 124 | 133 |
| Neath Port Talbot | 176 | 196 |
| Newport | 238 | 274 |
| Pembrokeshire | 185 | 185 |
| Powys | 168 | 174 |
| Rhondda Cynon Taf | 353 | 347 |
| Swansea | 297 | 323 |
| Torfaen | 138 | 106 |
| Vale of Glamorgan | 213 | 235 |
| Wrexham | 159 | 163 |
| Wales | 4,273 | 4,572 |
Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.
The estimate for August 2018 is calculated based on around 85% of the final registered transactions. The number of property transactions for August 2018 will increase as more transactions are incorporated into the index.
Download this table’s data (CSV, 1KB)
4.2 Sales volumes
Sales volumes for Wales over the past 5 years
| Date | Sales volumes for Wales |
|---|---|
| August 2014 | 4,084 |
| August 2015 | 3,918 |
| August 2016 | 4,122 |
| August 2017 | 4,572 |
| August 2018 | 4,273 |
Download this chart’s data (CSV, 1KB)
5. Property status
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 two 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 for Wales
| Property status | Average price August 2018 | Monthly change | Annual change |
|---|---|---|---|
| New build | £221,671 | 4.6% | 12.8% |
| Existing resold property | £158,119 | 1.4% | 5.3% |
Download this table’s data (CSV, 1KB)
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 October 2018 | Monthly change | Annual change |
|---|---|---|---|
| First time buyer | £138,743 | -0.4% | 3.7% |
| Former owner occupier | £186,743 | -0.2% | 3.9% |
Download this table’s data (CSV, 1KB)
7. Funding status
Cash and mortgage indicator for Wales
| Funding status | Average price October 2018 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £156,980 | 0.0% | 3.8% |
| Mortgage | £163,181 | -0.5% | 3.8% |
Download this table’s data (CSV, 1KB)
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 August 2018 |
|---|---|
| Wales | 52 |
Download the data for England and Wales (CSV, 7KB)
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 for Wales queries
Eileen Morrison, Data Services Team Leader, HM Land Registry
Email eileen.morrison@landregistry.gov.uk
Telephone 0300 006 5288