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UK house prices show annual rise but monthly fall

Posted: 23rd April 2019   In: Residential Conveyancing

UK house prices rose by an average 1.7% in the year to January but there were wide variations in different regions across the country.

The House Price Index compiled by the Land Registry shows that although prices rose year on year, there was a fall of 0.8% from December 2018 to January 2019. The average property in the UK was valued at £228,147

In England, the January data shows that on average, house prices fell by 1.0% since December 2018. The annual price rise of 1.5% takes the average property value to £244,567.

Price change by region for England

Region

Average price January 2019

Monthly change % since December 2018

East Midlands

£192,757

 0.2

East of England

£288,494

-1.0

London

£472,230

-0.3

North East

£125,233

-3.3

North West

£160,811

-1.3

South East

£321,174

-0.5

South West

£253,926

-1.4

West Midlands

£195,399

-2.1

Yorkshire and the Humber

£160,420

-1.0

 Average price by property type for England

Property type

January 2019

January 2018

Difference %

Detached

£374,666

£364,094

2.9

Semi-detached

£227,582

£223,753

1.7

Terraced

£196,206

£193,477

1.4

Flat/maisonette

£225,896

£227,369

-0.6

All

£244,567

£241,068

1.5

Average price by property type for London

Property type

January 2019

January 2018

Difference %

Detached

£906,825

£895,418

1.3

Semi-detached

£575,903

£576,806

-0.2

Terraced

£488,242

£490,664

-0.5

Flat/maisonette

£414,742

£425,777

-2.6

All

£472,230

£479,780

-1.6

Average price by property type for Wales

Property type

January 2019

January 2018

Difference %

Detached

£244,321

£231,777

5.4

Semi-detached

£153,933

£148,028

4.0

Terraced

£122,763

£117,311

4.6

Flat/maisonette

£116,136

£111,683

4.0

All

£160,232

£153,132

4.6

Please contacts Dipak Odedra or Jackie Hand if you would like advice about the legal aspects of buying or selling a property.

 

Posted by: Dipak Odedra
Residential Conveyancing
Berkhamsted Office