ONS UK House Price Index for August 2020 up 0.7%
The office for National Statistics has released the UK House Price Index summary for August 2020 showing the average price of a property in the UK was now £239,196 reflecting an annual increase of 2.5% and a monthly increase for August of 0.7%
At the individual country level, the largest annual house price growth in the year to August 2020 was recorded in England, where house prices increased by 2.8% with Wales seeing an increase of 2.7% and Scotland 0.6% in the year to August 2020. Northern Ireland saw house prices increase by 3.0% over the year to Quarter 2 (April to June) 2020.
The highest annual growth within England was for the East Midlands where average house prices grew by 3.6%. The lowest annual growth was in the North East, where prices increased by 0.2% in the year to August 2020.
The Bank of England’s Money and Credit August 2020 release reported that mortgage approvals for house purchases (an indicator of future lending) increased sharply in August to 84,700, the highest since October 2007.
Average monthly price by property type
| Property type | August 2020 | August 2019 | Difference |
|---|---|---|---|
| Detached | £365,316 | £354,368 | 3.1% |
| Semi-detached | £230,455 | £221,347 | 4.1% |
| Terraced | £194,611 | £190,139 | 2.4% |
| Flat or maisonette | £203,708 | £204,645 | -0.5% |
| All | £239,196 | £233,366 | 2.5% |
Price, monthly change and annual change by country and government office region
| Country and government office region | Price | Monthly change | Annual change |
|---|---|---|---|
| England | £256,109 | 0.7% | 2.8% |
| Northern Ireland (Quarter 2 – 2020) | £141,131 | 0.3% | 3.0% |
| Scotland | £155,191 | 0.4% | 0.6% |
| Wales | £172,828 | 2.1% | 2.7% |
| East Midlands | £202,345 | 0.6% | 3.6% |
| East of England | £296,411 | 0.8% | 2.0% |
| London | £489,159 | 0.9% | 3.5% |
| North East | £131,701 | 0.0% | 0.2% |
| North West | £173,617 | 1.4% | 3.5% |
| South East | £332,147 | 1.6% | 2.9% |
| South West | £264,886 | 0.0% | 2.5% |
| West Midlands | £204,886 | 0.1% | 2.3% |
| Yorkshire and The Humber | £170,025 | 0.1% | 2.7% |
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