House prices in the UK rise by 2.7%

UK Property Prices

The average house price in the UK stands at £231,095, according to the latest data from HM Land Registry. 

The North West saw the greatest monthly property price rise with an increase of 1.2% to £165,007. But the biggest monthly price fall was the North East at 1.9% to £128,484.

London’s average annual house price actually fell by 1.7% to £473,609, while the North West’s annual house price rose by a huge 4.9%.

If we take a look at the year on year comparison from the latest HM Land Registry data, we can see average house prices in England are generally rising overall:

Property TypeOctober 2017October 2018Change (%)
Flat £227,770£229,075+0.6
Terraced£194,602£199,325+2.4
Semi-detached£224,513£231,863+3.3
Detached£365,469£376,581+3.0
All£242,003£247,914+2.4

However, the average house prices by property type for Wales have seen the biggest overall increase in the UK year on year:

Property TypeOctober 2017October 2018Change (%)
Flat £112,187£117,007+4.3
Terraced£119,515£123,641+3.5
Semi-detached£149,237£155,121+3.9
Detached£234,474£243,427+3.8
All£155,033£155,033+3.8

 

If you’re thinking of selling your property – make sure you instruct a good conveyancing solicitor. Our specialist Conveyancing Team have plenty of experience dealing with all sorts of property purchases and sales. Call 0800 614 722 or request a callback to speak to our solicitors.