The July data shows:
- on average, house prices have risen 0.5% since June 2023
- there has been an annual price rise of 0.6% which makes the average property in the UK valued at 289,824
England
In England the July data shows, on average, house prices have risen by 0.4% since June 2023. The annual price rise of 0.6% takes the average property value to 308,633.
The regional data for England indicates that:
- Yorkshire and the Humber experienced the greatest monthly rise with a movement of 1.5%
- the East Midlands saw the lowest monthly price growth, with a fall of -0.5%
- the North East experienced the greatest annual price rise, up by 2.7%
- the South West saw the lowest annual price growth, with a fall of -1.0%
Price change by region for England
Region | Average price July 2023 | Annual change % since July 2022 | Monthly change % since June 2023 |
East Midlands | 249,484 | 1.9 | -0.5 |
East of England | 352,723 | 0.2 | 0.4 |
London | 534,265 | -0.8 | 1.1 |
North East | 163,480 | 2.7 | 0.5 |
North West | 215,648 | 1.0 | 0.3 |
South East | 394,096 | 0.4 | 0.5 |
South West | 323,713 | -1.0 | -0.2 |
West Midlands | 251,313 | 0.4 | 0.2 |
Yorkshire and the Humber | 212,730 | 2.5 | 1.5 |
Repossession sales by volume for England
The lowest number of repossession sales in May 2023 was in the East of England.
The highest number of repossession sales in May 2023 was in the North West.
Repossession sales | May 2023 |
East Midlands | 4 |
East of England | 1 |
London | 14 |
North East | 7 |
North West | 16 |
South East | 5 |
South West | 5 |
West Midlands | 7 |
Yorkshire and the Humber | 7 |
England | 66 |
Average price by property type for England
Property type | July 2023 | July 2022 | Difference % |
Detached | 488,835 | 478,317 | 2.2 |
Semi-detached | 297,183 | 293,983 | 1.1 |
Terraced | 252,084 | 252,589 | -0.2 |
Flat/maisonette | 249,064 | 251,486 | -1.0 |
All | 308,633 | 306,655 | 0.6 |
Funding and buyer status for England
Transaction type | Average price July 2023 | Annual price change % since July 2022 | Monthly price change % since June 2023 |
Cash | 288,497 | 0.3 | 0.1 |
Mortgage | 318,627 | 0.8 | 0.6 |
First-time buyer | 255,455 | 0.3 | 0.3 |
Former owner occupier | 354,924 | 1.0 | 0.6 |
Building status for England
Building status | Average price May 2023 | Annual price change % since May 2022 | Monthly price change % since April 2023 |
New build | 421,005 | 13.9 | -0.8 |
Existing resold property | 296,038 | 0.9 | 0.1 |
London
London shows, on average, house prices have risen by 1.1% since June 2023. An annual price fall of -0.8% takes the average property value to 534,265.
Average price by property type for London
Property type | July 2023 | July 2022 | Difference % |
Detached | 1,114,843 | 1,086,212 | 2.6 |
Semi-detached | 702,145 | 694,831 | 1.1 |
Terraced | 589,534 | 593,915 | -0.7 |
Flat/maisonette | 437,993 | 446,212 | -1.8 |
All | 534,265 | 538,634 | -0.8 |
Funding and buyer status for London
Transaction type | Average price July 2023 | Annual price change % since July 2022 | Monthly price change % since June 2023 |
Cash | 547,416 | -1.9 | -0.3 |
Mortgage | 529,214 | -0.5 | 1.4 |
First-time buyer | 458,823 | -1.0 | 0.9 |
Former owner occupier | 617,918 | -0.5 | 1.3 |
Building status for London
Building status | Average price May 2023 | Annual price change % since May 2022 | Monthly price change % since April 2023 |
New build | 592,751 | 13.2 | 0.9 |
Existing resold property | 523,710 | 0.4 | -0.5 |
Wales
Wales shows, on average, house prices have rise by 1.1% since June 2023. An annual price fall of -0.1% takes the average property value to 215,632.
There were 3 repossession sales for Wales in May 2023.
Average price by property type for Wales
Property type | July 2023 | July 2022 | Difference % |
Detached | 332,221 | 328,899 | 1.0 |
Semi-detached | 209,275 | 209,450 | -0.1 |
Terraced | 167,892 | 169,637 | -1.0 |
Flat/maisonette | 134,704 | 135,850 | -0.8 |
All | 215,632 | 215,929 | -0.1 |
Funding and buyer status for Wales
Transaction
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Ministerial Departmental News
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