
According to HM Land Registry UK House Price Index (HPI) for May :
- an annual price increase of 4.7% which takes the average property value in the UK to £220,713
- the monthly house prices have risen by 0.5% since April 2017
- the monthly index figure for the UK was 115.8
The data shows:
- in England, an annual price increase of 5% which takes the average property value to £237,662. Monthly house prices have risen by 0.5% since April 2017
- in Wales, an annual price increase of 3.8% which takes the average property value to £149,817. Monthly house prices have risen by 0.6% since April 2017
- in London, an annual price increase of 3% which takes the average property value to £481,345. Monthly house prices have fallen by 0.3% since April 2017
The regional data indicates that:
- the East of England experienced the greatest increase in average property price over the last 12 months, with a movement of 7.5%
- the North East experienced both the greatest monthly price growth with an increase of 1.8% and the lowest annual price growth with a movement of 1.6%
- London and the South East saw the most significant monthly price falls of 0.3% each
The UK Property Transaction statistics showed that in May 2017 the number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above increased by 13.4% compared to May 2016. The unusually low level of transactions in May 2016 was associated with the introduction of the higher tax rates on additional properties introduced from 1 April 2016. Comparing May 2017 to April 2017, property transactions fell by 3.3%.
Sales during March 2017, the most up-to-date HM Land Registry figures available, show that:
- the number of completed house sales in England fell by 44.3% to 62,342 compared with 111,901 in March 2016
- the number of completed house sales in Wales fell by 35.5% to 3,451 compared with 5,354 in March 2016
- the number of completed house sales in London fell by 57.5% to 6,941 compared with 16,322 in March 2016
- there were 743 repossession sales in England in March 2017
- there were 76 repossession sales in Wales in March 2017
- the lowest number of repossession sales in England and Wales in March 2017 was in the East of England
Price change by region for England
Region |
Monthly change % since April 2017 |
Annual change % since May 2016 |
Average price May 2017 |
East Midlands |
1.3 |
7.2 |
£180,903 |
East of England |
0.7 |
7.5 |
£284,097 |
London |
-0.3 |
3.0 |
£481,345 |
North East |
1.8 |
1.6 |
£126,738 |
North West |
0.7 |
3.8 |
£153,297 |
South East |
-0.3 |
4.8 |
£315,807 |
South West |
0.4 |
5.5 |
£243,969 |
West Midlands |
0.8 |
5.3 |
£183,942 |
Yorkshire and the Humber |
1.1 |
4.4 |
£155,268 |
Average price by property type for England
Property type |
May 2017 |
May 2016 |
Difference % |
Detached |
£353,757 |
£335,334 |
5.5 |
Semi-detached |
£220,793 |
£209,006 |
5.6 |
Terraced |
£191,208 |
£184,130 |
3.8 |
Flat/maisonette |
£226,959 |
£215,654 |
5.2 |
All |
£237,662 |
£226,370 |
5.0 |
Price change for Wales
Wales |
Monthly change % since April 2017 |
Annual change % since May 2016 |
Average price May 2017 |
Wales |
0.6 |
3.8 |
£149,817 |
Average price by property type for Wales
Property type |
May 2017 |
May 2016 |
Difference % |
Detached |
£221,822 |
£215,069 |
3.1 |
Semi-detached |
£144,909 |
£138,484 |
4.6 |
Terraced |
£116,128 |
£112,917 |
2.8 |
Flat/maisonette |
£112,812 |
£104,659 |
7.8 |
All |
£149,817 |
£144,296 |
3.8 |
Average price by property type for London
Property type |
May 2017 |
May 2016 |
Difference % |
Detached |
£900,601 |
£864,839 |
4.1 |
Semi-detached |
£579,413 |
£557,920 |
3.9 |
Terraced |
£488,617 |
£481,745 |
1.4 |
Flat/maisonette |
£428,569 |
£414,351 |
3.4 |
All |
£481,345 |
£467,485 |
3.0 |
Sales volumes for England
Month |
Sales 2017 England |
Sales 2016 England |
Difference % |
February |
55,289 |
64,679 |
-14.5 |
March |
62,342 |
111,901 |
-44.3 |
Sales volumes for Wales
Month |
Sales 2017 Wales |
Sales 2016 Wales |
Difference % |
February |
2,992 |
3,188 |
-6.1 |
March |
3,451 |
5,354 |
-35.5 |
Sales volumes for London
Month |
Sales 2017 London |
Sales 2016 London |
Difference % |
February |
6,362 |
8,171 |
-22.1 |
March |
6,941 |
16,322 |
-57.5 |
Funding, buyer and building status for England
Transaction Type |
Monthly price change % since April 2017 |
Annual price change % since May 2016 |
Average price May 2017 |
Cash |
0.7 |
5.2 |
£223,769 |
Mortgage |
0.5 |
4.9 |
£244,662 |
First time buyer |
1.2 |
5.0 |
£200,770 |
Former owner occupier |
-0.1 |
4.9 |
£268,135 |
New build |
-0.3 |
8.9 |
£308,487 |
Existing resold property |
0.6 |
4.7 |
£233,153 |
Funding, buyer and building status for Wales
Transaction Type |
Monthly price change % since April 2017 |
Annual price change % since May 2016 |
Average price May 2017 |
Cash |
0.2 |
3.4 |
£145,421 |
Mortgage |
0.7 |
4.1 |
£152,422 |
First time buyer |
1.2 |
3.9 |
£130,125 |
Former owner occupier |
-0.1 |
3.7 |
£172,585 |
New build |
1.1 |
10.6 |
£209,992 |
Existing resold property |
0.5 |
3.5 |
£146,556 |
Funding, buyer and building status for London
Transaction Type |
Monthly price change % since April 2017 |
Annual price change % since May 2016 |
Average price May 2017 |
Cash |
0.0 |
4.1 |
£512,564 |
Mortgage |
-0.3 |
2.6 |
£471,925 |
First time buyer |
0.0 |
2.9 |
£422,225 |
Former owner occupier |
-0.6 |
3.0 |
£541,333 |
New build |
-3.1 |
4.6 |
£511,475 |
Existing resold property |
0.0 |
2.8 |
£478,916 |
Repossession
Repossession sales |
March 2017 |
East Midlands |
67 |
East of England |
12 |
London |
46 |
North East |
95 |
North West |
174 |
South East |
72 |
South West |
52 |
Yorkshire and the Humber |
136 |
West Midlands |
89 |
England |
743 |
Wales |
76 |
Source: Land Registery