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The November data shows:

  • on average, house prices have risen 1.2% since October 2020
  • there has been an annual price rise of 7.6% which makes the average property in the UK valued at £249,633

England

In England, the November data shows on average, house prices have risen by 1.2% since October 2020. The annual price rise of 7.6% takes the average property value to £266,742.

Alan Boswell – MPU

The regional data for England indicates that:

  • London experienced the greatest monthly price rise, up by 4%
  • the East of England saw the lowest monthly price growth, with a fall of -0.3%
  • London and Yorkshire and the Humber experienced the greatest annual price rise, up by 9.7%
  • the East of England saw the lowest annual price growth, with a rise of 4.8%

Price change by region for England

Region Average price November 2020 Annual change % since November 2019 Monthly change % since October 2020
East Midlands £208,662 7.1 0.6
East of England £302,624 4.8 -0.3
London £513,997 9.7 4.0
North East £140,248 8.3 2.6
North West £180,280 8.5 0.2
South East £342,271 6.2 1.2
South West £278,391 8.5 1.1
West Midlands £213,974 6.9 1.0
Yorkshire and the Humber £180,856 9.7 1.9

Repossession sales by volume for England

The lowest number of repossession sales in September 2020 was in the East of England.

The highest number of repossession sales in September 2020 was in the North East.

Repossession sales September 2020
East Midlands 22
East of England 7
London 23
North East 60
North West 66
South East 36
South West 14
West Midlands 20
Yorkshire and the Humber 48
England 296

Average price by property type for England

Property type November 2020 November 2019 Difference %
Detached £409,644 £377,293 8.6
Semi-detached £251,846 £234,008 7.6
Terraced £217,744 £201,028 8.3
Flat/maisonette £233,614 £222,243 5.1
All £266,742 £247,867 7.6

Funding and buyer status for England

Transaction type Average price November 2020 Annual price change % since November 2019 Monthly price change % since October 2020
Cash £250,255 7.3 1.1
Mortgage £274,999 7.8 1.3
First-time buyer £222,334 7.2 1.2
Former owner occupier £304,659 8.1 1.2

Building status for England

Building status* Average price September 2020 Annual price change % since September 2019 Monthly price change % since August 2020
New build £323,994 4.9 -0.7
Existing resold property £256,239 4.3 1.3

*Figures for the two 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 rose by 4.0% since October 2020. An annual price rise of 9.7% takes the average property value to £513,997.

Average price by property type for London

Property type November 2020 November 2019 Difference %
Detached £982,085 £904,492 8.6
Semi-detached £636,993 £580,116 9.8
Terraced £548,982 £495,186 10.9
Flat/maisonette £442,304 £405,653 9.0
All £513,997 £468,757 9.7

Funding and buyer status for London

Transaction type Average price November 2020 Annual price change % since November 2019 Monthly price change % since October 2020
Cash £539,792 10.5 5.4
Mortgage £506,203 9.4 3.6
First-time buyer £445,945 9.3 3.8
Former owner occupier £586,662 10.1 4.2

Building status for London

Building status* Average price September 2020 Annual price change % since September 2019 Monthly price change % since August 2020
New build £507,961 2.0 -0.9
Existing resold property £496,541 4.5 1.4

*Figures for the two 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 have risen 2.0% since October 2020. An annual price rise of 7.0% takes the average property value to £180,229.

There were 36 repossession sales for Wales in September 2020.

Average price by property type for Wales

Property type November 2020 November 2019 Difference %
Detached £273,737 £254,121 7.7
Semi-detached £174,223 £163,573 6.5
Terraced £140,917 £130,664 7.8
Flat/maisonette £118,998 £116,734 1.9
All £180,229 £168,516 7.0

Funding and buyer status for Wales

Transaction type Average price November 2020 Annual price change % since November 2019 Monthly price change % since October 2020
Cash £175,123 7.0 2.1
Mortgage £183,289 7.0 1.9
First-time buyer £155,270 6.7 2.0
Former owner occupier £209,468 7.2 1.9

Building status for Wales

Building status* Average price September 2020 Annual price change % since September 2019 Monthly price change % since August 2020
New build £227,409 4.7 -3.7
Existing resold property £167,794 4.0 -1.8

*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.

View the full UK HPI here.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion.

The price data feeding into the November 2020 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of coronavirus (COVID-19) took hold.

UK house prices

UK house prices increased by 7.6% in the year to November 2020, up from 5.9% in October 2020.

On a non-seasonally adjusted basis, average house prices in the UK increased by 1.2% between October and November 2020, compared with a fall of 0.4% during the same period a year earlier (October and November 2019).

The UK Property Transactions Statistics showed that in November 2020, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 115,190.

This is 19.3% higher than a year ago. Between October and November 2020, UK transactions increased by 8.6% on a seasonally adjusted basis.

House price growth was strongest in Yorkshire and the Humber and London where prices increased by 9.7% in the year to November 2020.

The lowest annual growth was in the East of England, where prices increased by 4.8% in the year to November 2020, up from 4.3% in the year to October 2020.

See the economic statement.

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