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 Type October 2017 October 2018 Change (%)
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 Type October 2017 October 2018 Change (%)
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.