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Price of a UK home skyrockets in the year to August

House prices in England grew by 9.8% in the year to August 2021, up from 7.5% in July 2021. The North East was the fastest growing region, with annual growth of 13.3% in the year to August 2021. The lowest annual growth was in London, where prices increased by 7.5% over the year to August 2021.

On a non-seasonally adjusted basis, average house prices in England increased by 3.2% between July and August 2021, compared with an increase of 1.0% during the same period a year earlier (July and August 2020). On a seasonally adjusted basis, average house prices in England increased by 2.9% between July and August 2021.

Comparing the provisional volume estimate for June 2020 with the provisional estimate for June 2021, volume transactions increased by 5.3% in England. UK volume transactions increased by 24.5% over the same period.

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, volume transactions increased by 220.7% in England in the year to June 2021.

Across England, detached houses showed the biggest increase out of all property types, growing by 12.3% in the year to August 2021 to £438,000. The lowest annual change was in flats and maisonettes which increased by 6.0% in the year to August 2021 to £240,000.

As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

Headline statistics

  • The average price of a property in England was £280,921
  • The annual price change of a property in England was 9.8%
  • The monthly price change of a property in England was 3.2%
  • The index figure for England (January 2015 = 100) was 138.5

Price change

Annual price change for England and London over the past 5 years

Average house prices in England increased by 9.8% in the year to August 2021, up from 7.5% in July 2021.

In London, average house prices increased by 7.5% in the year to August 2021, up from an increase of 2.9% in July 2021.

Average price by local authority for England

In August 2021, the most expensive area to purchase a property was Kensington and Chelsea, where the average cost was £1.5 million. In contrast, the cheapest area to purchase a property was Burnley, where the average cost was £107,000.

Average price change by property type

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.

Sales volumes for England over the past five years

Comparing the provisional volume estimate for June 2020 with the provisional estimate for June 2021, volume transactions increased by 5.3% in England.

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, volume transactions increased by 220.7% in England in the year to June 2021.

Sales volumes for London over the past 5 years

Property status

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.

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