Accredited official statistics

UK House Price Index summary: June 2023

Published 16 August 2023

1. Headline statistics for June 2023

The average price of a property in the UK was £287,546

The annual price change for a property in the UK was 1.7%

The monthly price change for a property in the UK was 0.7%

The monthly index figure (January 2015 = 100) for the UK was 150.8

Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read Revisions to the UK HPI data.

Next publication of UK HPI

The July 2023 UK HPI will be published at 9.30am on Wednesday 20 September 2023. See the calendar of release dates for more information.

2. Economic statement

The annual percentage change for average UK house prices was 1.7% in the 12 months to June 2023, compared with 1.8% in the 12 months to May 2023.

The average UK house price was £288,000 in June 2023, which is £5,000 higher than 12 months ago, but £5,000 below the recent peak in November 2022. Average house prices increased over the 12 months to £306,000 (1.9%) in England, to £213,000 in Wales (0.6%) and to £174,000 in Northern Ireland (2.7%). While the average Scotland house price in June 2023 (£189,000) saw little change over the 12 months (0.0%).

On a non-seasonally adjusted basis, average UK house prices increased by 0.7% between May 2023 and June 2023, compared with an increase of 0.8% during the same period 12 months ago.

Annual house price inflation was highest in the North East where prices increased by 4.7% in the 12 months to June 2023. London was the English region with the lowest annual growth, where prices decreased by 0.6% in the 12 months to June 2023.

The Royal Institution of Chartered Surveyors’ (RICS’) June 2023 UK Residential Market Survey reported that more survey respondents have seen a fall in buyer enquiries. This marks an eight month low for their buyer demand series. When disaggregated, respondents across all parts of the UK reported a firmly negative trend in buyer enquiries compared to May.

The Bank of England’s Agents summary of business conditions 2023 Q2 reported weaker demand and stronger supply than a year ago, bringing supply and demand closer to balance. This led to more stable prices relative to recent months.

The UK Property Transactions Statistics showed that in June 2023, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 85,870. This is 15.4% lower than 12 months ago (June 2022). Between May 2023 and June 2023, UK transactions increased by 6.1% on a seasonally adjusted basis.

The Bank of England’s Money and Credit June 2023 release reported that mortgage approvals for house purchases, an indicator of future borrowing, increased to 54,700 June 2023, from 51,100 in May 2023.

3. Price changes

3.1 Annual price change

Annual price change for UK by country over the past 5 years

Average house prices in the UK increased by 1.7% in the 12 months to June 2023, down from 1.8% in May 2023.

At the country level, the highest annual house price percentage change in the 12 months to June 2023 was recorded in England, where house prices increased by 1.9%.

Scotland saw house prices saw little change (0.0)% in the 12 months to June 2023.

Wales saw house prices increase by 0.6% in the 12 months to June 2023.

Northern Ireland saw house prices increase by 2.7% over the 12 months to Quarter 2 (April to June) 2023.

3.2 Average price by country and government office region

Price, monthly change and annual change by country and government office region

Country and government office region Price Monthly change Annual change
England £306,447 0.9% 1.9%
Northern Ireland (Quarter 2 - 2023) £173,898 1.4% 2.7%
Scotland £189,424 -0.4% 0.0%
Wales £213,477 0.2% 0.6%
East Midlands £248,678 1.3% 2.4%
East of England £351,213 1.3% 1.1%
London £527,979 0.5% -0.6%
North East £161,034 1.8% 4.7%
North West £215,631 1.2% 3.5%
South East £391,406 0.6% 1.3%
South West £321,152 -0.5% 0.5%
West Midlands Region £250,743 0.7% 3.2%
Yorkshire and The Humber £208,867 2.1% 2.7%

Price changes by country and government office region

On a non-seasonally adjusted basis, average house prices in the UK increased by 0.7% between May 2023 and June 2023. This was down from an increase of 0.8% during the same period 12 months ago (May 2022 and June 2022). On a seasonally adjusted basis, average house prices in the UK increased by 0.3% between May 2023 and June 2023.

Note: The Northern Ireland figure represents a 3-month change and is not comparable with the other regions and countries.

3.3 Average price by property type

Average monthly price by property type

Property type June 2023 June 2022 Difference
Detached £451,157 £441,124 2.3%
Semi-detached £279,059 £272,949 2.2%
Terraced £234,373 £232,478 0.8%
Flat or maisonette £231,037 £229,101 0.8%
All £287,546 £282,777 1.7%

4. Sales volumes

The amount of time between the sale of a property and the registration of this information varies. It typically ranges between 2 weeks and 2 months but can be longer. Volume figures for the most recent 2 months are not yet at a reliable level for reporting, so they are not included in the report. Published transactions for recent months will increase as later registered transactions are incorporated into the index.

Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read Revisions to the UK HPI data for more information.

4.1 Sales volumes

Number of sales volumes by country

Comparing the provisional volume estimate for the current month with the revised volume estimate for the corresponding month in the previous year

Country April 2023 April 2022
England 29,344 58,765
Northern Ireland 1,592 2,034
Scotland 6,902 8,694
Wales 1,742 3,420

Note: Comparing the provisional volume estimate for the current month with the revised 12-month volume estimate.

Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.

Note: The number of property transactions for April 2023 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional UK HPI volume estimate for April 2022 with the provisional UK HPI volume estimate for April 2023, volume transactions decreased by 25.3% in England, decreased by 18.6% in Scotland and decreased by 26.4% in Wales. Northern Ireland’s UK HPI volume transactions decreased by 17.6% in the year to Quarter 2 2023.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that in the 12 months to April 2023, on a non-seasonally adjusted basis, HMRC volume transactions decreased by 33.2% in England, decreased by 32.2% in Wales, decreased by 18.9% in Scotland, and decreased by 33.9% in Northern Ireland.

4.2 Sales volumes for the UK over the past 5 years

Sales volumes for 2019 to 2023 by country: April

Note: The number of property transactions for April 2023 will increase as more transactions are incorporated into the UK HPI index. See our Revisions Policy for more information.

Comparing the provisional UK HPI volume estimate for April 2022 with the provisional UK HPI volume estimate for April 2023, UK volume transactions decreased by 24.0%.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, HMRC volume transactions for the UK decreased by 31.9% in the 12 months to April 2023.

5. Property status for UK

Transactions involving the creation of a new register, such as new builds, are more complex and need more time to process. This means they can take longer to appear in the land registers. The volume of new build transactions for the most recent 2 months are not at a reliable level for reporting the breakdown between new build and existing resold property, so they are not included in the report.

New build and existing resold property

Property status Average price April 2023 Monthly change Annual change
New build £407,265 1.1% 19.3%
Existing resold property £277,679 0.5% 2.1%

Note: Since the October 2017 release, amendments have been made to our estimation model when calculating our provisional estimate. Find out further information and the impact of this change in the methods used to produce the UK HPI.

6. Buyer status for Great Britain

First time buyer and former owner occupier

For Great Britain only, Northern Ireland data is not available for buyer status.

Type of buyer Average price June 2023 Monthly change Annual change
First time buyer £239,589 0.8% 1.5%
Former owner occupier £336,257 0.7% 1.7%

7. Funding status for Great Britain

Cash and mortgage

For Great Britain only, Northern Ireland data is not available for funding status.

Funding status Average price June 2023 Monthly change Annual change
Cash £272,364 0.7% 1.6%
Mortgage £299,975 0.7% 1.7%

8. Housing transaction distributions

Between January and March 2023, there were 153,325 property sales.

The most popular price range for:

  • England was £150,000 to £174,999 – 8,340 properties were purchased
  • Scotland was £125,000 to £149,999 – 2,057 properties were purchased
  • Wales was £125,000 to £149,999 – 866 properties were purchased
  • Northern Ireland was £125,000 to £149,999 – 655 properties were purchased

The charts below show the distribution of housing transactions for Q1 (January to March) 2023 for countries of the UK. Data for Great Britain is presented in bands of £25,000 up to £10 million, followed by a larger band for over £10 million. Data for Northern Ireland is presented in bands of £25,000 up to £500,000, followed by a larger band for over £500,000.

In line with the UK HPI revisions policy, the number of transactions will increase as more data are incorporated into the index, which would also impact the distributions presented in this analysis.

England housing transactions

Price band Housing transactions
less than £25,000 25
£25,000 - £49,999 450
£50,000 - £74,999 2255
£75,000 - £99,999 4463
£100,000 - £124,999 5947
£125,000 - £149,999 7352
£150,000 - £174,999 8340
£175,000 - £199,999 8308
£200,000 - £224,999 7755
£225,000 - £249,999 7805
£250,000 - £274,999 7484
£275,000 - £299,999 6757
£300,000 - £324,999 6067
£325,000 - £349,999 5222
£350,000 - £374,999 4834
£375,000 - £399,999 4426
£400,000 - £424,999 3936
£425,000 - £449,999 3410
£450,000 - £474,999 2975
£475,000 - £499,999 2513
£500,000 - £524,999 2214
£525,000 - £549,999 1821
£550,000 - £574,999 1738
£575,000 - £599,999 1530
£600,000 - £624,999 1428
£625,000 - £649,999 1212
£650,000 - £674,999 1120
£675,000 - £699,999 952
£700,000 - £724,999 810
£725,000 - £749,999 705
£750,000 - £774,999 722
£775,000 - £799,999 591
£800,000 - £824,999 571
£825,000 - £849,999 485
£850,000 - £874,999 478
£875,000 - £899,999 401
£900,000 - £924,999 425
£925,000 - £949,999 320
£950,000 - £974,999 326
£975,000 - £999,999 239
£1,000,000 - £1,249,999 1570
£1,250,000 - £1,499,999 954
£1,500,000 - £1,749,999 537
£1,750,000 - £1,999,999 278
£2,000,000 - £4,999,999 661
£5,000,000 - £9,999,999 77
greater than £10,000,000 22

Scotland housing transactions

Price band Housing transactions
less than £25,000 64
£25,000 - £49,999 624
£50,000 - £74,999 1283
£75,000 - £99,999 1957
£100,000 - £124,999 1831
£125,000 - £149,999 2057
£150,000 - £174,999 1739
£175,000 - £199,999 1541
£200,000 - £224,999 1307
£225,000 - £249,999 1137
£250,000 - £274,999 941
£275,000 - £299,999 860
£300,000 - £324,999 704
£325,000 - £349,999 571
£350,000 - £374,999 485
£375,000 - £399,999 424
£400,000 - £424,999 302
£425,000 - £449,999 251
£450,000 - £474,999 188
£475,000 - £499,999 157
£500,000 - £524,999 140
£525,000 - £549,999 102
£550,000 - £574,999 90
£575,000 - £599,999 66
£600,000 - £624,999 67
£625,000 - £649,999 45
£650,000 - £674,999 53
£675,000 - £699,999 38
£700,000 - £724,999 47
£725,000 - £749,999 30
£750,000 - £774,999 26
£775,000 - £799,999 25
£800,000 - £824,999 15
£825,000 - £849,999 7
£850,000 - £874,999 21
£875,000 - £899,999 9
£900,000 - £924,999 10
£925,000 - £949,999 5
£950,000 - £974,999 6
£975,000 - £999,999 8
£1,000,000 - £1,249,999 33
£1,250,000 - £1,499,999 24
£1,500,000 - £1,749,999 7
£1,750,000 - £1,999,999 2
£2,000,000 - £4,999,999 6
£5,000,000 - £9,999,999 0
greater than £10,000,000 0

Wales housing transactions

Price band Housing transactions
less than £25,000 0
£25,000 - £49,999 24
£50,000 - £74,999 143
£75,000 - £99,999 426
£100,000 - £124,999 668
£125,000 - £149,999 866
£150,000 - £174,999 848
£175,000 - £199,999 683
£200,000 - £224,999 526
£225,000 - £249,999 489
£250,000 - £274,999 425
£275,000 - £299,999 313
£300,000 - £324,999 260
£325,000 - £349,999 216
£350,000 - £374,999 202
£375,000 - £399,999 167
£400,000 - £424,999 111
£425,000 - £449,999 90
£450,000 - £474,999 99
£475,000 - £499,999 70
£500,000 - £524,999 52
£525,000 - £549,999 44
£550,000 - £574,999 49
£575,000 - £599,999 26
£600,000 - £624,999 31
£625,000 - £649,999 19
£650,000 - £674,999 11
£675,000 - £699,999 15
£700,000 - £724,999 19
£725,000 - £749,999 12
£750,000 - £774,999 21
£775,000 - £799,999 8
£800,000 - £824,999 6
£825,000 - £849,999 10
£850,000 - £874,999 11
£875,000 - £899,999 2
£900,000 - £924,999 4
£925,000 - £949,999 2
£950,000 - £974,999 3
£975,000 - £999,999 1
£1,000,000 - £1,249,999 9
£1,250,000 - £1,499,999 5
£1,500,000 - £1,749,999 3
£1,750,000 - £1,999,999 1
£2,000,000 - £4,999,999 2
£5,000,000 - £9,999,999 0
greater than £10,000,000 0

Northern Ireland housing transactions

Price band Housing transactions
less than £25,000 2
£25,000 - £49,999 63
£50,000 - £74,999 324
£75,000 - £99,999 597
£100,000 - £124,999 593
£125,000 - £149,999 655
£150,000 - £174,999 590
£175,000 - £199,999 429
£200,000 - £224,999 267
£225,000 - £249,999 253
£250,000 - £274,999 181
£275,000 - £299,999 114
£300,000 - £324,999 102
£325,000 - £349,999 54
£350,000 - £374,999 63
£375,000 - £399,999 52
£400,000 - £424,999 30
£425,000 - £449,999 24
£450,000 - £474,999 29
£475,000 - £499,999 21
greater than £500,000 74

9. Access the data

Download the data as CSV files or access it with our UK HPI tool.

Data revisions

View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.

10. About the UK House Price Index

The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.

Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.

Find out more about the UK House Price Index.

11. Contact

Eileen Morrison, Data Services Team Leader, HM Land Registry

Email eileen.morrison@landregistry.gov.uk

Telephone 0300 006 5288

Aimee North, Head of Housing Market Indices, Office for National Statistics

Email aimee.north@ons.gov.uk

Telephone 01633 456400

Ciara Cunningham, Statistician for the Northern Ireland HPI

Email ciara.cunningham@finance-ni.gov.uk

Telephone 028 90 336035

Anne MacDonald, Land & Property Data Team, Registers of Scotland

Email Anne.MacDonald@ros.gov.uk

Telephone 0131 378 4991