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

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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%

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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%

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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.

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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

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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%

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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%

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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%

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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