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1. Headline statistics for June 2023
The common worth of a property within the UK was £287,546
The annual worth change for a property within the UK was 1.7%
The month-to-month worth change for a property within the UK was 0.7%
The month-to-month index determine (January 2015 = 100) for the UK was 150.8
Estimates for the latest months are provisional and are more likely to be up to date as extra information is included into the index. Learn Revisions to the UK HPI data.
Subsequent publication of UK HPI
The July 2023 UK HPI might be revealed at 9.30am on Wednesday 20 September 2023. See the calendar of release dates for extra info.
2. Financial assertion
The annual proportion change for common UK home costs was 1.7% within the 12 months to June 2023, in contrast with 1.8% within the 12 months to Could 2023.
The common UK home worth was £288,000 in June 2023, which is £5,000 larger than 12 months in the past, however £5,000 beneath the current peak in November 2022. Common home costs elevated over the 12 months to £306,000 (1.9%) in England, to £213,000 in Wales (0.6%) and to £174,000 in Northern Eire (2.7%). Whereas the common Scotland home worth in June 2023 (£189,000) noticed little change over the 12 months (0.0%).
On a non-seasonally adjusted foundation, common UK home costs elevated by 0.7% between Could 2023 and June 2023, in contrast with a rise of 0.8% throughout the identical interval 12 months in the past.
Annual home worth inflation was highest within the North East the place costs elevated by 4.7% within the 12 months to June 2023. London was the English area with the bottom annual progress, the place costs decreased by 0.6% within the 12 months to June 2023.
The Royal Establishment of Chartered Surveyors’ (RICS’) June 2023 UK Residential Market Survey reported that extra survey respondents have seen a fall in purchaser enquiries. This marks an eight month low for his or her purchaser demand collection. When disaggregated, respondents throughout all components of the UK reported a firmly unfavorable development in purchaser enquiries in comparison with Could.
The Bank of England’s Agents summary of business conditions 2023 Q2 reported weaker demand and stronger provide than a yr in the past, bringing provide and demand nearer to stability. This led to extra secure costs relative to current months.
The UK Property Transactions Statistics confirmed that in June 2023, on a seasonally adjusted foundation, the estimated variety of transactions of residential properties with a price of £40,000 or higher was 85,870. That is 15.4% decrease than 12 months in the past (June 2022). Between Could 2023 and June 2023, UK transactions elevated by 6.1% on a seasonally adjusted foundation.
The Bank of England’s Money and Credit June 2023 launch reported that mortgage approvals for home purchases, an indicator of future borrowing, elevated to 54,700 June 2023, from 51,100 in Could 2023.
3. Worth modifications
3.1 Annual worth change
Annual worth change for UK by nation over the previous 5 years
Common home costs within the UK elevated by 1.7% within the 12 months to June 2023, down from 1.8% in Could 2023.
On the nation stage, the best annual home worth proportion change within the 12 months to June 2023 was recorded in England, the place home costs elevated by 1.9%.
Scotland noticed home costs noticed little change (0.0)% within the 12 months to June 2023.
Wales noticed home costs improve by 0.6% within the 12 months to June 2023.
Northern Eire noticed home costs improve by 2.7% over the 12 months to Quarter 2 (April to June) 2023.
3.2 Common worth by nation and authorities workplace area
Worth, month-to-month change and annual change by nation and authorities workplace area
Nation and authorities workplace area | Worth | Month-to-month change | Annual change |
---|---|---|---|
England | £306,447 | 0.9% | 1.9% |
Northern Eire (Quarter 2 – 2023) | £173,898 | 1.4% | 2.7% |
Scotland | £189,424 | -0.4% | 0.0% |
Wales | £213,477 | 0.2% | 0.6% |
East Midlands | £248,678 | 1.3% | 2.4% |
East of England | £351,213 | 1.3% | 1.1% |
London | £527,979 | 0.5% | -0.6% |
North East | £161,034 | 1.8% | 4.7% |
North West | £215,631 | 1.2% | 3.5% |
South East | £391,406 | 0.6% | 1.3% |
South West | £321,152 | -0.5% | 0.5% |
West Midlands Area | £250,743 | 0.7% | 3.2% |
Yorkshire and The Humber | £208,867 | 2.1% | 2.7% |
Worth modifications by nation and authorities workplace area
On a non-seasonally adjusted foundation, common home costs within the UK elevated by 0.7% between Could 2023 and June 2023. This was down from a rise of 0.8% throughout the identical interval 12 months in the past (Could 2022 and June 2022). On a seasonally adjusted foundation, common home costs within the UK elevated by 0.3% between Could 2023 and June 2023.
Observe: The Northern Eire determine represents a 3-month change and isn’t comparable with the opposite areas and international locations.
3.3 Common worth by property kind
Common month-to-month worth by property kind
Property kind | June 2023 | June 2022 | Distinction |
---|---|---|---|
Indifferent | £451,157 | £441,124 | 2.3% |
Semi-detached | £279,059 | £272,949 | 2.2% |
Terraced | £234,373 | £232,478 | 0.8% |
Flat or maisonette | £231,037 | £229,101 | 0.8% |
All | £287,546 | £282,777 | 1.7% |
4. Gross sales volumes
The period of time between the sale of a property and the registration of this info varies. It usually ranges between 2 weeks and a pair of months however might be longer. Quantity figures for the latest 2 months aren’t but at a dependable stage for reporting, so they aren’t included within the report. Revealed transactions for current months will improve as later registered transactions are included into the index.
Gross sales quantity information can also be obtainable by property standing (new construct and current property) and funding standing (money and mortgage) in our downloadable data tables. Transactions involving the creation of a brand new register, similar to new builds, are extra advanced and require extra time to course of. Learn Revisions to the UK HPI data for extra info.
4.1 Gross sales volumes
Variety of gross sales volumes by nation
Evaluating the provisional quantity estimate for the present month with the revised quantity estimate for the corresponding month within the earlier yr
Nation | April 2023 | April 2022 |
---|---|---|
England | 29,344 | 58,765 |
Northern Eire | 1,592 | 2,034 |
Scotland | 6,902 | 8,694 |
Wales | 1,742 | 3,420 |
Observe: Evaluating the provisional quantity estimate for the present month with the revised 12-month quantity estimate.
Observe: The ‘Distinction’ column has been faraway from this desk as the most recent month’s information aren’t but full.
Observe: The variety of property transactions for April 2023 will improve as extra transactions are included into the index. See our Revisions Policy for extra info.
Evaluating the provisional UK HPI volume estimate for April 2022 with the provisional UK HPI quantity estimate for April 2023, quantity transactions decreased by 25.3% in England, decreased by 18.6% in Scotland and decreased by 26.4% in Wales. Northern Eire’s UK HPI quantity transactions decreased by 17.6% within the yr to Quarter 2 2023.
UK Property Transaction Statistics revealed by HM Income & Customs (which differ in protection however are extra full for this era) report that within the 12 months to April 2023, on a non-seasonally adjusted foundation, HMRC quantity transactions decreased by 33.2% in England, decreased by 32.2% in Wales, decreased by 18.9% in Scotland, and decreased by 33.9% in Northern Eire.
4.2 Gross sales volumes for the UK over the previous 5 years
Gross sales volumes for 2019 to 2023 by nation: April
Observe: The variety of property transactions for April 2023 will improve as extra transactions are included into the UK HPI index. See our Revisions Policy for extra info.
Evaluating the provisional UK HPI volume estimate for April 2022 with the provisional UK HPI quantity estimate for April 2023, UK quantity transactions decreased by 24.0%.
UK Property Transaction Statistics revealed by HM Income & Customs (which differ in protection however are extra full for this era) report that on a non-seasonally adjusted foundation, HMRC quantity transactions for the UK decreased by 31.9% within the 12 months to April 2023.
5. Property standing for UK
Transactions involving the creation of a brand new register, similar to new builds, are extra advanced and wish extra time to course of. This implies they’ll take longer to look within the land registers. The amount of latest construct transactions for the latest 2 months aren’t at a dependable stage for reporting the breakdown between new construct and current resold property, so they aren’t included within the report.
New construct and current resold property
Property standing | Common worth April 2023 | Month-to-month change | Annual change |
---|---|---|---|
New construct | £407,265 | 1.1% | 19.3% |
Current resold property | £277,679 | 0.5% | 2.1% |
Observe: For the reason that October 2017 launch, amendments have been made to our estimation mannequin when calculating our provisional estimate. Discover out additional info and the influence of this variation within the methods used to produce the UK HPI.
6. Purchaser standing for Nice Britain
First time purchaser and former proprietor occupier
For Nice Britain solely, Northern Eire information isn’t obtainable for purchaser standing.
Sort of purchaser | Common worth June 2023 | Month-to-month change | Annual change |
---|---|---|---|
First time purchaser | £239,589 | 0.8% | 1.5% |
Former proprietor occupier | £336,257 | 0.7% | 1.7% |
7. Funding standing for Nice Britain
Money and mortgage
For Nice Britain solely, Northern Eire information isn’t obtainable for funding standing.
Funding standing | Common worth June 2023 | Month-to-month change | Annual change |
---|---|---|---|
Money | £272,364 | 0.7% | 1.6% |
Mortgage | £299,975 | 0.7% | 1.7% |
8. Housing transaction distributions
Between January and March 2023, there have been 153,325 property gross sales.
The most well-liked worth vary for:
- England was £150,000 to £174,999 – 8,340 properties had been bought
- Scotland was £125,000 to £149,999 – 2,057 properties had been bought
- Wales was £125,000 to £149,999 – 866 properties had been bought
- Northern Eire was £125,000 to £149,999 – 655 properties had been bought
The charts beneath present the distribution of housing transactions for Q1 (January to March) 2023 for international locations of the UK. Knowledge for Nice Britain is offered in bands of £25,000 as much as £10 million, adopted by a bigger band for over £10 million. Knowledge for Northern Eire is offered in bands of £25,000 as much as £500,000, adopted by a bigger band for over £500,000.
Consistent with the UK HPI revisions policy, the variety of transactions will improve as extra information are included into the index, which might additionally influence the distributions offered on this evaluation.
England housing transactions
Worth band | Housing transactions |
---|---|
lower than £25,000 | 25 |
£25,000 – £49,999 | 450 |
£50,000 – £74,999 | 2255 |
£75,000 – £99,999 | 4463 |
£100,000 – £124,999 | 5947 |
£125,000 – £149,999 | 7352 |
£150,000 – £174,999 | 8340 |
£175,000 – £199,999 | 8308 |
£200,000 – £224,999 | 7755 |
£225,000 – £249,999 | 7805 |
£250,000 – £274,999 | 7484 |
£275,000 – £299,999 | 6757 |
£300,000 – £324,999 | 6067 |
£325,000 – £349,999 | 5222 |
£350,000 – £374,999 | 4834 |
£375,000 – £399,999 | 4426 |
£400,000 – £424,999 | 3936 |
£425,000 – £449,999 | 3410 |
£450,000 – £474,999 | 2975 |
£475,000 – £499,999 | 2513 |
£500,000 – £524,999 | 2214 |
£525,000 – £549,999 | 1821 |
£550,000 – £574,999 | 1738 |
£575,000 – £599,999 | 1530 |
£600,000 – £624,999 | 1428 |
£625,000 – £649,999 | 1212 |
£650,000 – £674,999 | 1120 |
£675,000 – £699,999 | 952 |
£700,000 – £724,999 | 810 |
£725,000 – £749,999 | 705 |
£750,000 – £774,999 | 722 |
£775,000 – £799,999 | 591 |
£800,000 – £824,999 | 571 |
£825,000 – £849,999 | 485 |
£850,000 – £874,999 | 478 |
£875,000 – £899,999 | 401 |
£900,000 – £924,999 | 425 |
£925,000 – £949,999 | 320 |
£950,000 – £974,999 | 326 |
£975,000 – £999,999 | 239 |
£1,000,000 – £1,249,999 | 1570 |
£1,250,000 – £1,499,999 | 954 |
£1,500,000 – £1,749,999 | 537 |
£1,750,000 – £1,999,999 | 278 |
£2,000,000 – £4,999,999 | 661 |
£5,000,000 – £9,999,999 | 77 |
higher than £10,000,000 | 22 |
Scotland housing transactions
Worth band | Housing transactions |
---|---|
lower than £25,000 | 64 |
£25,000 – £49,999 | 624 |
£50,000 – £74,999 | 1283 |
£75,000 – £99,999 | 1957 |
£100,000 – £124,999 | 1831 |
£125,000 – £149,999 | 2057 |
£150,000 – £174,999 | 1739 |
£175,000 – £199,999 | 1541 |
£200,000 – £224,999 | 1307 |
£225,000 – £249,999 | 1137 |
£250,000 – £274,999 | 941 |
£275,000 – £299,999 | 860 |
£300,000 – £324,999 | 704 |
£325,000 – £349,999 | 571 |
£350,000 – £374,999 | 485 |
£375,000 – £399,999 | 424 |
£400,000 – £424,999 | 302 |
£425,000 – £449,999 | 251 |
£450,000 – £474,999 | 188 |
£475,000 – £499,999 | 157 |
£500,000 – £524,999 | 140 |
£525,000 – £549,999 | 102 |
£550,000 – £574,999 | 90 |
£575,000 – £599,999 | 66 |
£600,000 – £624,999 | 67 |
£625,000 – £649,999 | 45 |
£650,000 – £674,999 | 53 |
£675,000 – £699,999 | 38 |
£700,000 – £724,999 | 47 |
£725,000 – £749,999 | 30 |
£750,000 – £774,999 | 26 |
£775,000 – £799,999 | 25 |
£800,000 – £824,999 | 15 |
£825,000 – £849,999 | 7 |
£850,000 – £874,999 | 21 |
£875,000 – £899,999 | 9 |
£900,000 – £924,999 | 10 |
£925,000 – £949,999 | 5 |
£950,000 – £974,999 | 6 |
£975,000 – £999,999 | 8 |
£1,000,000 – £1,249,999 | 33 |
£1,250,000 – £1,499,999 | 24 |
£1,500,000 – £1,749,999 | 7 |
£1,750,000 – £1,999,999 | 2 |
£2,000,000 – £4,999,999 | 6 |
£5,000,000 – £9,999,999 | 0 |
higher than £10,000,000 | 0 |
Wales housing transactions
Worth band | Housing transactions |
---|---|
lower than £25,000 | 0 |
£25,000 – £49,999 | 24 |
£50,000 – £74,999 | 143 |
£75,000 – £99,999 | 426 |
£100,000 – £124,999 | 668 |
£125,000 – £149,999 | 866 |
£150,000 – £174,999 | 848 |
£175,000 – £199,999 | 683 |
£200,000 – £224,999 | 526 |
£225,000 – £249,999 | 489 |
£250,000 – £274,999 | 425 |
£275,000 – £299,999 | 313 |
£300,000 – £324,999 | 260 |
£325,000 – £349,999 | 216 |
£350,000 – £374,999 | 202 |
£375,000 – £399,999 | 167 |
£400,000 – £424,999 | 111 |
£425,000 – £449,999 | 90 |
£450,000 – £474,999 | 99 |
£475,000 – £499,999 | 70 |
£500,000 – £524,999 | 52 |
£525,000 – £549,999 | 44 |
£550,000 – £574,999 | 49 |
£575,000 – £599,999 | 26 |
£600,000 – £624,999 | 31 |
£625,000 – £649,999 | 19 |
£650,000 – £674,999 | 11 |
£675,000 – £699,999 | 15 |
£700,000 – £724,999 | 19 |
£725,000 – £749,999 | 12 |
£750,000 – £774,999 | 21 |
£775,000 – £799,999 | 8 |
£800,000 – £824,999 | 6 |
£825,000 – £849,999 | 10 |
£850,000 – £874,999 | 11 |
£875,000 – £899,999 | 2 |
£900,000 – £924,999 | 4 |
£925,000 – £949,999 | 2 |
£950,000 – £974,999 | 3 |
£975,000 – £999,999 | 1 |
£1,000,000 – £1,249,999 | 9 |
£1,250,000 – £1,499,999 | 5 |
£1,500,000 – £1,749,999 | 3 |
£1,750,000 – £1,999,999 | 1 |
£2,000,000 – £4,999,999 | 2 |
£5,000,000 – £9,999,999 | 0 |
higher than £10,000,000 | 0 |
Northern Eire housing transactions
Worth band | Housing transactions |
---|---|
lower than £25,000 | 2 |
£25,000 – £49,999 | 63 |
£50,000 – £74,999 | 324 |
£75,000 – £99,999 | 597 |
£100,000 – £124,999 | 593 |
£125,000 – £149,999 | 655 |
£150,000 – £174,999 | 590 |
£175,000 – £199,999 | 429 |
£200,000 – £224,999 | 267 |
£225,000 – £249,999 | 253 |
£250,000 – £274,999 | 181 |
£275,000 – £299,999 | 114 |
£300,000 – £324,999 | 102 |
£325,000 – £349,999 | 54 |
£350,000 – £374,999 | 63 |
£375,000 – £399,999 | 52 |
£400,000 – £424,999 | 30 |
£425,000 – £449,999 | 24 |
£450,000 – £474,999 | 29 |
£475,000 – £499,999 | 21 |
higher than £500,000 | 74 |
9. Entry the information
Download the data as CSV files or entry it with our UK HPI tool.
Knowledge revisions
View any revisions to beforehand revealed information within the data downloads or discover out extra about revisions in our steerage About the UK HPI.
10. In regards to the UK Home Worth Index
The UK Home Worth Index (UK HPI) is calculated by the Workplace for Nationwide Statistics and Land & Property Companies Northern Eire. Discover out in regards to the methodology used to create the UK HPI.
Knowledge for the UK Home Worth Index is offered by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.
Discover out extra about the UK House Price Index.
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