June UK House Price Index

June UK House Price Index

Written by Martha Lott
Written by Martha Lott
14th August 2019 (Last updated on Wednesday 14th August 2019)

Property prices in the UK are on the rise, with the average price for a UK property in June 2019 standing at £230,292

This is an increase of 0.7% since May 2019 and an annual growth of 0.9%, according to the latest UK House Price Index release. 

Wales saw the strongest growth in property prices with an increase of 4.4% in the year to June 2019 and a boost of 1.2% from May 2019, with the average price for a house in Wales set at £163,768.

London experienced the lowest annual growth with property prices falling by 2.7% over the year to June 2019 and an increase of just 0.7% from May 2019.

June House Price Index at a Glance

Average price of a UK property is £230,292
Annual price change for a UK property is 0.9%
Monthly price change for a UK property is 0.7%
Monthly index figure (January 2015 = 100) is 120.8

London Falling: Decrease in London House Prices

If you’re looking to move to London, it’s worth noting property prices have decreased by 2.7% in the last year, meaning the average price of a London house currently stands at £466,824. The annual change in London property prices continues to dip, making the last few months the most significant fall in price since the financial crash of 2008. 

London House Price Changes

The table below shows a continuing annual drop in London house prices.

Month2018 House Prices2019 House PricesAnnual Change
January £479,772£472,230-2.0%
February £477,860£459,800-2.6%
April £477,253£471,504-1.2%
May£478,485£457,471 -4.4%

House Prices by Region

The North East is currently the cheapest area to buy property whilst London remains the most expensive region of the UK to buy a house. The South West saw the biggest monthly price drop whilst the North East experienced the greatest monthly price increase at 1.7%.

Average House Price by Region

First-Time Buyers in the UK

First-time buyers are paying on average £193,701 for property, a 0.6% increase from May 2019, whereas a previous home owner is paying £268,119 which is a 0.8% increase from the previous month. 

Type of BuyerAverage Property Price - June 2019Monthly ChangeAnnual Change
First-Time Buyer£193,7010.6%0.5%
Previous Home Owner£268,1190.8%1.4%

First-time buyers should look to the North East for cheap property as it holds the title for the cheapest region to buy a house in the UK, with the average price paid in June standing at £130,342. This is an annual decrease of 1.8%. Northern Ireland and Scotland are strong options for first-time buyers with their average property prices set at £136,767 and £151,891.

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