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UK House prices rise by 0.4 per cent, Land Registry data shows

Wednesday 15 January 2020

House price data released by HM Land Registry shows UK house prices rose slightly between October and November 2019.

Average house prices

The data shows in England, on average, house prices have risen by 0.3 per cent since October 2019. An annual price rise of 1.7 per cent takes the average property value to £251,222.

Propertymark’s Housing Market Report (HMR) for November shows that four in five properties sold for less than the original asking price.

Welsh Land Registry data shows record growth in November, driven by sales of more expensive properties in typically busy property markets such as Cardiff and Newport, coupled with a fall in prices in the same period a year before. An annual price rise of 7.8 per cent lifts the average property value to £172,574.

Scottish house prices have risen to £154,798, a 0.4 per cent monthly increase. Annual prices have also increased by 3.5 per cent. Data for Northern Ireland is published quarterly and shows that an average house is valued at £139,951.

Sales supply and demand

79,830 properties were sold in the UK in September 2019, the most recent month for which the Land Registry data is available.

Propertymark’s HMR for November shows the market remains cautious. Supply did not increase in November. Demand is up year on year (to 282 registered per Propertymark member branch), but the number of house hunters registered per estate agent decreased in the month of November.

PROPERTYMARK HOUSING MARKET REPORTS

Propertymark produces monthly Housing Market Reports showing comparable data over two years.

Housing Reports