UK Government Releases House Price Index for June 2021

The HM Land Registry released the House Price Index (HPI) for June which presented the price changes in England, Scotland, Wales, and Northern Ireland.

The last 12 months has had a huge impact on all those involved in the property market. Today we wanted to specifically cover England and the changes in the market.

The June data shows:

On average, house prices have increased by 4.5% since May.
– There has been an annual price rise of 13.2% which makes the average property in the UK valued at £265,668.

England

In England, the June data has presented that on average, house prices have risen by 4.9% since May 2021. The annual price rise of 13.3% takes the average property value to £284,029.

The regional data for England indicates that:

  • Yorkshire and The Humber experienced the greatest monthly rise, up by 7 .1%.
  • London saw the lowest monthly price growth, at 2.5%.
  • The North West experienced the greatest annual price rise, up by 18.6%.
  • London saw the lowest annual price growth, with a rise of 6.3%.

Price change by region for England

RegionAverage Price June 2021Annual Change % Since June 2020Monthly Change % Since May 2021
East Midlands£226,84614.35.1
East of England£327,01712.14.5
London£510,2996.32.5
North East£149,52115.35.9
North West£200,22218.66.8
South East£355,94810.52.7
South West£294,90613.75.5
West Midlands£231,429155.7
Yorkshire and the Humber£194,51815.87.1

Repossession sales by volume for England

The lowest number of repossession sales in April 2020 was in the East Midlands and the South West.

The highest number of repossession sales in April 2021 was in the North East.

Repossession SalesApril 2021
East Midlands5
East of England9
London6
North East25
North West23
South East18
South West5
West Midlands14
Yorkshire and the Humber21
England (Total)126

Average price by property type for England

Property TypeJune 2021June 2020Difference %
Detached£438,145£378,75715.7
Semi-Detached£296,207£236,96813.6
Terraced£233,644£204,93214
Flat/ Maisonette£242,353£224,0258.2
All£284,029£250,73913.3

Funding and buyer status for England

Transaction TypeAverage Price June 2021Annual Price Change % Since June 2020Monthly Price Change % Since May 2021
Cash£267,19013.55.2
Mortgage£292,53213.24.8
First-Time Buyer£236,98212.64.9
Former Owner Occupier£324,08113.94.9

Building Status for England

Building StatusAverage Price April 2021Annual Price Change % Since April 2020Monthly Price Change % Since March 2020
New Build£361,64214.84.7
Existing Resold Property£263,6349.1-1.7

UK House Prices

UK house prices increased by 13.2% in the year to June 2021, up from 9.8% in May 2021. On a non-seasonally adjusted basis, average house prices in the UK increased by 4.5% between May and June 2021, compared with an increase of 1.4 % during the same period a year earlier (May and June 2020).

The UK Property Transactions Statistics showed the in June 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 198,240. This is 219.1% higher than a year ago. Between May and June 2021, UK transactions increased by 74.1% on a seasonally adjusted basis.

House price growth was strongest in the North West where prices increased by 18.6% in the year to June 2021. The lowest annual growth was in London, where prices increased by 6.3% in the year to June 2021.

Overall, the housing market is now beginning to stabilise and show a greater long-term momentum. Sales are increasing, sellers are achieving a great level of asking price than they were just a few months ago and all these indicators suggest a property market resurgence.

Do you have a property you would like to let or sell? Right now has never been a better time to dispose of a property. Contact us today on 01332 3833838 or email [email protected].

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