In the past 18 months all those involved in the property market have been impacted by the effects of coronavirus (COVID-19); HM Land Registry is no different and as a result, this release of the UK House Price index isn’t as complete as it could be
UK house prices increased by 8% in the year to July 2021, down from 13.1% in June 2021. On a non-seasonally adjusted basis, average house prices in the UK decreased by 3.7% between June and July 2021, compared with an increase of 0.8% during the same period a year earlier (June and July 2020).
The UK Property Transactions Statistics showed that in July 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 73,740. This is 4.2% higher than a year ago. Between June and July 2021, UK transactions decreased by 62.8% on a seasonally adjusted basis, following a record level of transaction numbers in June 2021.
House price growth was strongest in the North East where prices increased by 10.8% in the year to July 2021. The lowest annual growth was in London, where prices increased by 2.2% in the year to July 2021.
Price change by region for England
| Region | Average price July 2021 | Annual change % since July 2020 | Monthly change % since June 2021 |
|---|---|---|---|
| East Midlands | £214,169 | 6.9 | -5.5 |
| East of England | £312,076 | 6.8 | -3.8 |
| London | £494,673 | 2.2 | -2.0 |
| North East | £144,935 | 10.8 | -3.5 |
| North West | £185,171 | 8.1 | -7.6 |
| South East | £354,278 | 8.8 | -1.3 |
| South West | £277,178 | 5.2 | -5.8 |
| West Midlands | £220,759 | 8.5 | -4.9 |
| Yorkshire and the Humber | £180,324 | 6.9 | -6.8 |