The Ultimate List of UK Housing Statistics 2019

The Ultimate List of UK Housing Statistics 2019

Concerned about being a first-time buyer? Wondering which parts of the UK offer more affordable housing? Want to know the average UK house price by region? We’ve got you covered with our ultimate list of UK housing statistics for 2019.

The UK housing market is constantly fluctuating in terms of price, availability, and growth. Whether you work in property, finance or law, understanding and keeping up to date with the latest significant changes and statistics with regards to the UK housing market is crucial. We have researched, gathered and organised all of the most important figures to cover all aspects of UK housing such as repossession, rent, mortgages, and even Brexit, providing you with the ultimate list of UK housing statistics for 2019.  

UK House Prices Statistics 2019 

House prices are always bound to fluctuate, however not only is the UK’s average house price currently peaking,  but it is also becoming increasingly more difficult for first-time buyers to get on the property ladder due to the higher house prices and deposits, not matching up with wages. We’ve collected current house price index data as well as a break down of average house prices by region to clearly show the varying costs of owning property across the UK. 


Current House Price Index 

As of June 2019, the average house price in the UK is £230,292, and the index stands at 120.78. Property prices have risen by 0.7% compared to the previous month, and risen by 0.9% compared to the previous year.

  • Average house prices in the UK increased by 0.9% in the year to June 2019, unchanged from May 2019
  • The average UK house price was £230,000 in June 2019. This is £2,000 higher than the same period a year ago (June 2018)
  • Average UK house prices peaked at £232,000 in August 2018

Wales House Price Statistics 

  • House price growth in Wales increased by 4.4% in the year to June 2019, down from 4.6% in May 2019, with the average house price at £164,000.

England House Price Statistics 

  • The average house price in England increased by 0.7% over the year to June 2019, remaining the same from May 2019 (0.7%) with the average house price in England now £247,000.
  • England house prices remain the highest in the UK. 

London House Price Statistics 

  • The lowest annual growth in England was in London, where prices fell by 2.7% over the year to June 2019, less than the 3.1% fall in May 2019. 
  • Average house prices in London have now been falling over the year each month since March 2018, a period of 16 months
  • While London house prices continue to fall over the year, the area remains the most expensive place to purchase a property at an average of £467,000, followed by the South East and the East of England, at £323,000 and £291,000 respectively.

Scotland House Price Statistics 

  • House prices in Scotland increased by 1.3% in the year to June 2019, down from 1.5% in the year to May 2019, with the average house price in Scotland now £152,000.

Northern Ireland House Price Statistics

  • Northern Ireland house prices increased by 3.5% over the year to Quarter 2 (April to June) 2019. 
  • Northern Ireland remains the cheapest UK country to purchase a property in, with the average house price at £137,000 (Figure 3). 

 

The average house price in 2019 across all UK regions based on existing properties on the market (not including new builds). 

UK Repossession Statistics 

House repossession statistics in the UK are historically impacted by many factors such as unemployment rates, economic policies, and evolving lender practises. 

  • House repossessions reached the lowest level it has been since 1980 with a total of 4580
  • You can see year on year house repossession data in our house repossession statistics post here. 

House Repossession Sales 

The number of actual house repossession sales differs dramatically from the number of house repossession orders. 

  • The lowest number of repossession sales in January 2019 was in the East of England.
  • The highest number of repossession sales in January 2019 was in the North West.
  • There were 40 repossession sales for Wales in January 2019. 

There were a total of 489 house repossession sales in England in January 2019. 


Repossession sales January 2019 
East Midlands 41
East of England 14
London 38
North East 65
North West 131
South East 43
South West 39
West Midlands  35
Yorkshire and the Humber 83

 

UK Mortgage Statistics

Mortgages used to be pretty straightforward, as did signing for one and being accepted. However, there are now many other factors to be considered and although it is much cheaper in the long run to have a mortgage in comparison to renting, it is incredibly expensive and much more difficult to secure one than it is to rent a property. The sky-high deposits are unrealistic when compared to the average wages in the UK, making it difficult for first-time buyers to get on the property ladder.

  • The total number of pure interest-only mortgages has now fallen by over half (54 percent) in the past seven years, from 2.5 million in 2012 to 1.23 million in 2018. Meanwhile, the number of interest-only mortgages due to mature in 2019 and 2020 fell significantly (41.9 percent), falling from 217,000 to just 126,000

  • The value of gross mortgage advances was £63.3 billion in 2019
  • Lending to owner-occupiers for house purchase accounted for 46.1% of total gross mortgage advances. Of this, 19.2% was to first-time buyers, which is consistent with a year earlier.
  • The number of interest-only loans set to mature by 2020 shrank by 91,000 in 2018 to just 126,000 loans, a fall of 41.9 percent compared to 2017.

  • The value of new mortgage commitments (lending agreed to be advanced in the coming months) was £63.8 billion, 4.5% higher than a year earlier.

Mortgage Statistics North of England 

  • Mortgage industry helps 85,000 households in the North of England buy their first home in 2018, the highest number since 2006.
  • Steady growth in home movers across the region, in contrast to overall decline across the UK.
  • Attractive rental yields in Northern Powerhouse cities drives growth in buy-to-let lending, bucking the national trend.

UK Home Owner and First Time Buyer Statistics 

Owning a home has become harder than ever, with unrealistic deposit requirements, harsh credit checks, lower average wages and higher prices in general; the number of people owning homes in the UK is gradually decreasing. It did, however, increase slightly between 2017 to 2018 but the average age of a first-time buyer has increased dramatically.  

  • The latest English Housing Survey, published in January 2018, showed that the average deposit for a mortgage is now £48,591 and the average age of a first-time buyer has risen to 33.
  • There were 370,000 new first-time buyer mortgages completed in 2018, some 1.9 percent more than in 2017. This is the highest number of first-time buyer mortgages since 2006 when this figure stood at 402,800. The £62 billion of new lending in the year was 4.9 percent more than in 2017.
  • There were 30,900 new first-time buyer mortgages completed in December 2018, some 1.6 percent more than in the same month a year earlier. The £5.2 billion of new lending in the month was 4 percent more year-on-year.
  • Ownership among 25- to 34-year-olds has plummeted in Greater Manchester from 53% in 1984 to 26% last year. 
  • It has fallen from 54% to 25% in South Yorkshire, from 45% to 20% in the West Midlands from 50% to 28% in Wales and from 55% to 27% in the south-east. 
  • In outer London, the proportion has collapsed from 53% to just 16%.
  • Out of 22 regions analysed by the commission, in only one – Strathclyde in Scotland – has home-ownership among the young remained stable. It stood at 32% in 1984 and 33% last year, having peaked at 45% in 2002. 

Millennials and Housing Statistics and Facts 

  • A third of millennials – people born between 1980 and 1996 – could live in rented accommodation their entire lives and 40% were still living in rented accommodation aged 30, double the rate of “Generation X”, born between 1965 and 1980. 
  • More than half of millennials are considering buying a home with friends or family.
  • London is the only UK city where renting a two-bedroom flat is cheaper than buying one 
  • Almost two-fifths of millennials rent privately at 30, double the rate for Generation X, born between 1966 and 1980, and four times the rate for baby boomers – born after the war until 1965 – at the same age
  • Millennials are now spending an average of nearly a quarter of their net income on housing, three times more than the pre-war generation, now aged 70 and over.

Sources:

https://www.ons.gov.uk

https://www.gov.uk/government/news/uk-house-price-index-for-march-2019 

http://landregistry.data.gov.uk

https://www.bankrate.com

https://www.independent.co.uk

https://www.ukfinance.org.uk

https://www.theguardian.com