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
| Region | Average Price June 2021 | Annual Change % Since June 2020 | Monthly Change % Since May 2021 |
| East Midlands | £226,846 | 14.3 | 5.1 |
| East of England | £327,017 | 12.1 | 4.5 |
| London | £510,299 | 6.3 | 2.5 |
| North East | £149,521 | 15.3 | 5.9 |
| North West | £200,222 | 18.6 | 6.8 |
| South East | £355,948 | 10.5 | 2.7 |
| South West | £294,906 | 13.7 | 5.5 |
| West Midlands | £231,429 | 15 | 5.7 |
| Yorkshire and the Humber | £194,518 | 15.8 | 7.1 |
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 Sales | April 2021 |
| East Midlands | 5 |
| East of England | 9 |
| London | 6 |
| North East | 25 |
| North West | 23 |
| South East | 18 |
| South West | 5 |
| West Midlands | 14 |
| Yorkshire and the Humber | 21 |
| England (Total) | 126 |
Average price by property type for England
| Property Type | June 2021 | June 2020 | Difference % |
| Detached | £438,145 | £378,757 | 15.7 |
| Semi-Detached | £296,207 | £236,968 | 13.6 |
| Terraced | £233,644 | £204,932 | 14 |
| Flat/ Maisonette | £242,353 | £224,025 | 8.2 |
| All | £284,029 | £250,739 | 13.3 |
Funding and buyer status for England
| Transaction Type | Average Price June 2021 | Annual Price Change % Since June 2020 | Monthly Price Change % Since May 2021 |
| Cash | £267,190 | 13.5 | 5.2 |
| Mortgage | £292,532 | 13.2 | 4.8 |
| First-Time Buyer | £236,982 | 12.6 | 4.9 |
| Former Owner Occupier | £324,081 | 13.9 | 4.9 |
Building Status for England
| Building Status | Average Price April 2021 | Annual Price Change % Since April 2020 | Monthly Price Change % Since March 2020 |
| New Build | £361,642 | 14.8 | 4.7 |
| Existing Resold Property | £263,634 | 9.1 | -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].