The UK House Price Index (HPI) for December 2019 shows that there has been an annual price rise of 2.2%, which makes the average property in the UK valued at £234,742.

According to the most recent HM Land Registry data, house prices in England and Wales have risen by 0.3% since November 2019.

England

In England the December data shows, on average, house prices have risen by 0.6% since November 2019. The annual price rise of 2.2% takes the average property value to £251,711.

The regional data for England indicates that:

  • the East of England experienced the greatest monthly price rise, up by 2.1%
  • the North West saw the most significant monthly price fall, down by 0.6%
  • Yorkshire and the Humber experienced the greatest annual price rise, up by 3.9%
  • the South East saw the lowest annual price growth, up by 1.2%

Price change by region for England

Region Average price December 2019 Monthly change % since November 2019
East Midlands £197,048 0.5
East of England £297,714 2.1
London £483,922 1.6
North East £130,977 0.5
North West £166,003 -0.6
South East £325,050 -0.3
South West £262,286 1.3
West Midlands £201,343 -0.4
Yorkshire and the Humber £168,382 1.7

Average price by property type for England

Property type December 2019 December 2018 Difference %
Detached £385,148 £373,190 3.2
Semi-detached £236,187 £230,739 2.4
Terraced £202,915 £198,769 2.1
Flat/maisonette £228,375 £226,923 0.6
All £251,711 £246,380 2.2

Funding and buyer status for England

Transaction type Average price December 2019 Annual price change % since December 2018 Monthly price change % since November 2019
Cash £236,853 2.0 0.8
Mortgage £259,189 2.2 0.6
First-time buyer £210,959 1.9 0.9
Former owner occupier £285,944 2.4 0.4

Building status for England

Building status* Average price October 2019 Annual price change % since October 2018 Monthly price change % since September 2019
New build £310,143 0.6 -0.4
Existing resold property £245,817 0.9 -0.1

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices have risen by 1.6% since November 2019. An annual price rise of 2.3% takes the average property value to £483,922.

Average price by property type for London

Property type December 2019 December 2018 Difference %
Detached £928,547 £899,415 3.2
Semi-detached £590,170 £579,876 1.8
Terraced £503,795 £490,483 2.7
Flat/maisonette £423,844 £415,052 2.1
All £483,922 £473,252 2.3

Funding and buyer status for London

Transaction type Average price December 2019 Annual price change % since December 2018 Monthly price change % since November 2019
Cash £508,340 2.3 2.4
Mortgage £476,543 2.3 1.4
First-time buyer £423,201 2.1 2.1
Former owner occupier £546,304 2.4 0.9

Building status for London

Building status* Average price October 2019 Annual price change % since October 2018 Monthly price change % since September 2019
New build £490,706 -1.3 -2.0
Existing resold property £473,336 -1.1 -0.7

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices have fallen by 2% since November 2019. An annual price rise of 2.2% takes the average property value to £165,735.

Average price by property type for Wales

Property type December 2019 December 2018 Difference %
Detached £251,879 £245,946 2.4
Semi-detached £160,368 £156,322 2.6
Terraced £128,335 £125,002 2.7
Flat/maisonette £113,391 £116,278 -2.5
All £165,735 £162,234 2.2

Funding and buyer status for Wales

Transaction type Average price December 2019 Annual price change % since December 2018 Monthly price change % since November 2019
Cash £161,168 1.8 -1.6
Mortgage £168,438 2.4 -2.1
First-time buyer £143,271 2.3 -1.8
Former owner occupier £191,878 2.0 -2.1

Building status for Wales

Building status* Average price October 2019 Annual price change % since October 2018 Monthly price change % since September 2019
New build £220,628 2.0 0.8
Existing resold property £163,147 3.5 0.9

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

UK house prices

UK house prices increased by 2.2% in the year to December 2019, up from 1.7% in November 2019. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.3% between November 2019 and December 2019, compared with a fall of 0.2% during the same period a year earlier (November 2018 and December 2018).

The UK Property Transaction Statistics for December 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 104,670. This is 6.8% higher than a year ago. Between November 2019 and December 2019, transactions increased by 6.2%.

House price growth was strongest in Northern Ireland where prices increased by 2.5% over the year. The lowest annual growth was in the South East, where prices increased by 1.2% over the year to December 2019, followed by the West Midlands where prices increased by 1.4% over the year.

Image: London, UK / Peggy und Marco Lachmann-Anke

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About Stefan Lambert

Stefan Lambert writes reviews of the European property market.

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