GovWire

Press release: UK House Price Index for July 2023

Land Registry

September 20
08:30 2023

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

Related Articles

Comments

  1. We don't have any comments for this article yet. Why not join in and start a discussion.

Write a Comment

Your name:
Your email:
Comments:

Post my comment

Recent Comments

Follow Us on Twitter

Share This


Enjoyed this? Why not share it with others if you've found it useful by using one of the tools below: