Land Registry
The May data shows:
- on average, house prices have risen 1.2% since April 2024
- there has been an annual price rise of 2.2% which makes the average property in the UK valued at 281,000
England
In England the May data shows, on average, house prices have risen by 1.3% since April 2024. The annual price rise of 2.2% takes the average property value to 302,000.
The regional data for England indicates that:
- London experienced the most significant monthly increase with a movement of 3.9%
- the South East saw the smallest monthly price growth, with a rise of 0.3%
- Yorkshire and the Humber experienced the greatest annual price rise, up by 3.9%
- London saw the lowest annual price growth, with a rise of 0.2%
Price change by region for England
| Region | Average price May 2024 | Annual change % since May 2023 | Monthly change % since Apr 2024 |
|---|---|---|---|
| East Midlands | 246,000 | 3.2 | 1 |
| East of England | 338,000 | 1.9 | 0.6 |
| London | 523,000 | 0.2 | 3.9 |
| North East | 162,000 | 3.7 | 1.5 |
| North West | 218,000 | 2.9 | 0.9 |
| South East | 376,000 | 0.7 | 0.3 |
| South West | 318,000 | 2.3 | 0.6 |
| West Midlands | 251,000 | 3 | 2.3 |
| Yorkshire and the Humber | 209,000 | 3.9 | 1.9 |
Repossession sales by volume for England
The lowest number of repossession sales in March 2024 was in the East of England.
The highest number of repossession sales in March 2024 was in the North East.
| Repossession sales | Mar 2024 |
|---|---|
| East Midlands | 4 |
| East of England | 1 |
| London | 7 |
| North East | 18 |
| North West | 17 |
| South East | 8 |
| South West | 5 |
| West Midlands | 5 |
| Yorkshire and the Humber | 6 |
| England | 71 |
Average price by property type for England
| Property type | May 2024 | May 2023 | Difference % |
|---|---|---|---|
| Detached | 466,000 | 450,000 | 3.6 |
| Semi-detached | 293,000 | 282,000 | 3.8 |
| Terraced | 249,000 | 244,000 | 1.9 |
| Flat/maisonette | 249,000 | 253,000 | -1.5 |
| All | 302,000 | 296,000 | 2.2 |
Funding and buyer status for England
| Transaction type | Average price May 2024 | Annual price change % since May 2023 | Monthly price change % since Apr 2024 |
|---|---|---|---|
| Cash | 284,000 | 1.7 | 1.4 |
| Mortgage | 312,000 | 2.4 | 1.3 |
| First-time buyer | 252,000 | 1.7 | 1 |
| Former owner occupier | 345,000 | 2.7 | 1.7 |
Building status for England
| Building status* | Average price Feb 2024 | Annual price change % since Feb 2023 | Monthly price change % since Jan 2024 |
|---|---|---|---|
| New build | 407,000 | 12.5 | -1.6 |
| Existing resold property | 292,000 | -0.6 | -0.2 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices increased by 3.9% since April 2024. An annual price rise of 0.2% takes the average property value to 523,000.
Average price by property type for London
| Property type | May 2024 | May 2023 | Difference % |
|---|---|---|---|
| Detached | 1,047,000 | 1,030,000 | 1.7 |
| Semi-detached | 685,000 | 660,000 | 3.7 |
| Terraced | 574,000 | 561,000 | 2.2 |
| Flat/maisonette | 433,000 | 443,000 | -2.2 |
| All | 523,000 | 522,000 | 0.2 |
Funding and buyer status for London
| Transaction type | Average price May 2024 | Annual price change % since May 2023 | Monthly price change % since Apr 2024 |
|---|---|---|---|
| Cash | 538,000 | -1.7 | 4 |
| Mortgage | 518,000 | 0.7 | 3.9 |
| First-time buyer | 450,000 | -0.4 | 3.4 |
| Former owner occupier | 604,000 | -3.1 | -1.4 |
Building status for London
| Building status* | Average price Mar 2024 | Annual price change % since Mar 2023 | Monthly price change % since Feb 2024 |
|---|---|---|---|
| New build | 540,000 | 5.5 | -5.4 |
| Existing resold property | 506,000 | -3.1 | -1.4 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Wales
Wales shows, on average, house prices rose by 2.5% since April 2024. An annual price increase of 2.4% takes the average property value to 216,000
There were 5 repossession sales for Wales in November 2023.
Average price by property type for Wales
| Property type | May 2024 | May 2023 | Difference % |
|---|---|---|---|
| Detached | 325,000 | 314,000 | 3.5 |
| Semi-detached | 213,000 | 204,000 | 4.2 |
| Terraced | 169,000 | 167,000 | 1.3 |
| Flat/maisonette | 137,000 | 140,000 | -1.9 |