England

In England, the June data shows on average, house prices have risen by 0.7% since May 2019. The annual price rise of 0.7% takes the average property value to £246,728.

The regional data for England indicates that:

• the North East experienced the greatest monthly price rise, up by 1.7%
• the South West saw the most significant monthly price fall, down by 0.4%
• the East Midlands experienced the greatest annual price rise, up by 3.2%
• London saw the largest annual price fall, down by 2.7%

Price change by region for England

Repossession sales by volume for England

The lowest number of repossession sales in April 2019 was in the East of England.

The highest number of repossession sales in April 2019 was in the North West.

Average price by property type for England

Funding and buyer status for England

Building status for England

*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices have risen by 0.7% since May 2019. An annual price fall of 2.7% takes the average property value to £466,824.

Average price by property type for London

Funding and buyer status for London

Building status for London

*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices have risen by 1.2% since May 2019. An annual price rise of 4.4% takes the average property value to £163,768.

There were 40 repossession sales for Wales in April 2019.

Average price by property type for Wales

Funding and buyer status for Wales

Building status for Wales

*Figures for the two most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Access the full UK HPI

UK house prices

UK house prices rose by 0.9% in the year to June 2019, unchanged from May 2019.

The UK Property Transaction Statistics for June 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 84,490. This is 16.5% lower compared with a year ago. Between May 2019 and June 2019, transactions decreased by 9.7%.

House prices grew fastest in Wales increasing by 4.4% in the year to June 2019. The lowest annual growth was in London, where prices fell by 2.7% over the year to June 2019, up from a fall of 3.1% in May 2019.

See the economic statement.

Background

1. The UK House Price Index (HPI) is published on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. The July 2019 UK HPI will be published at 9.30am on Wednesday 18 September 2019. See calendar of release dates.

2. We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.

3. The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.

4. 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.

5. Revision tables have been introduced for England and Wales within the downloadable data. Tables will be available in csv format. See about the UK HPI for more information.

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

7. The UK HPI is calculated by the Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency. It applies a hedonic regression model that uses the various sources of data on property price, in particular HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.

8. The UK Property Transaction statisticsare taken from HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series so HMRC also presents the UK aggregate transaction figures on a seasonally adjusted basis. Adjustments are made for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.

9. UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.

10. The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.

11. Work has been taking place since 2014 to develop a single, official HPI that reflects the final transaction price for sales of residential property in the UK. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.

12. Information on residential property transactions for England and Wales, collected as part of the official registration process, is provided by HM Land Registry for properties that are sold for full market value.

13. The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).

14. Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.

15. For England, this is shown as volumes of repossession sales recorded by Government Office Region. For Wales, there is a headline figure for the number of repossession sales recorded in Wales.

16. The data can be downloaded as a .csv file. Repossession sales data prior to April 2016 is not available. Find out more information about repossession sales.

17. Background tables of the raw and cleansed aggregated data, in Excel and CSV formats, are also published monthly although Northern Ireland is on a quarterly basis. They are available for free use and re-use under the Open Government Licence.

18. HM Land Registry’s mission is to guarantee and protect property rights in England and Wales.

19. HM Land Registry is a government department created in 1862. It operates as an executive agency and a trading fund and its running costs are covered by the fees paid by the users of its services. Its ambition is to become the world’s leading land registry for speed, simplicity and an open approach to data.

20. HM Land Registry safeguards land and property ownership worth in excess of £7 trillion, including over £1 trillion of mortgages. The Land Register contains more than 25 million titles showing evidence of ownership for some 86% of the land mass of England and Wales.

21. For further information about HM Land Registry visit www.gov.uk/land-registry.

22. Follow us on Twitter, our blog, LinkedIn and Facebook.

Published 28 December 2018
Last updated 16 November 2020 + show all updates

This follows an investigation by the Competition and Markets Authority (CMA) into suspected anti-competitive arrangements regarding the supply of fludrocortisone acetate 0.1 mg tablets. 

It is the first time the CMA will secure such a payment to the NHS in one of its pharmaceutical investigations.

Fludrocortisone is a life-saving medicine, on which thousands of patients depend. It is supplied only on prescription, mainly to treat primary or secondary adrenal insufficiency, commonly known as Addison’s Disease. It is paid for by the NHS and so ultimately by UK taxpayers.

The CMA has been investigating arrangements that Aspen entered into with 2 rival pharmaceutical companies in 2016, as the CMA suspected competition law had been broken by Aspen paying competitors to stay out of the market. These arrangements left Aspen as the sole supplier of fludrocortisone, with the ability to set prices without facing any competition. 

As a result of the CMA’s investigation, Aspen recently approached the CMA with an offer to try and resolve the case. After securing changes, the CMA is now announcing the proposed package, which includes:

• Admission of illegality: Aspen admits it was party to an illegal, anti-competitive agreement, by way of settlement.
• Compensation to address CMA’s concerns: Aspen will commit to pay £8 million to the NHS – without the Government having to launch court proceedings for damages. This is intended to address the CMA’s concerns that as a result of the impact of Aspen’s behaviour, the NHS paid a higher price for fludrocortisone.
• Restoring competition: Aspen will also commit to ensuring that, in future, there will be at least 2 suppliers of fludrocortisone in the UK. This aims to address the competition concerns identified by the CMA and provide the NHS with the opportunity to secure better value for money when purchasing this medicine.
• Fine: Aspen will pay a maximum fine of £2.1 million, once the CMA has concluded its investigation, if it reaches a formal decision that the law has been broken. The CMA is continuing its investigation given other companies are involved.

Andrea Coscelli, the CMA’s Chief Executive, said:

The CMA launched this investigation because we consider it unacceptable for the NHS – and the taxpayers who fund it – to have to pay millions of pounds more than they should for this life-saving drug.

This is the first time a CMA investigation will secure a payment for the NHS. The £8 million Aspen has agreed to provide will save the NHS the time and expense of seeking damages in court. Importantly, Aspen has also committed to ensuring there are more competitors in this market, giving the NHS the opportunity to secure better value for UK taxpayers’ money in the future.

We welcome Aspen approaching us to find a new way of addressing the CMA’s concerns. We believe this resolution will benefit the NHS, patients and taxpayers. Meanwhile we continue to investigate the 2 other companies we suspect illegally participated in this arrangement.

The CMA is required to consult interested parties before accepting commitments which it considers address its competition concerns, and so it is today consulting on the proposals to pay the NHS and resolve competition in the market. These parties have until 5pm on Monday 2 September 2019 to respond to the consultation, after which the CMA will decide whether to accept the commitments. 

The CMA currently has other, unrelated investigations open in relation to 6 other pharmaceutical drugs.

More information on this investigation can be found on the Pharmaceutical drugs: suspected anti-competitive agreements and conduct page.

Notes to editors:

1. The Aspen companies involved in the CMA’s investigation are Aspen Pharmacare Holdings Ltd, Aspen Global Inc., Aspen Pharma Ireland Ltd and Aspen Pharma Trading Ltd.
2. The CMA has competition concerns in relation to Aspen’s acquisition in October 2016 of a fludrocortisone product, in circumstances where Aspen held the only other such product authorised for sale in the UK. Aspen has offered to resolve this part of the case by way of a proposed commitment to pay £8 million to the NHS and ensure that there will be at least 2 suppliers in the market. In order to fulfil the latter commitment, Aspen has committed to divest the fludrocortisone product acquired in October 2016 and reintroduce and commercialise its other fludrocortisone product in the UK. The CMA is today publishing its Notice of Intention to Accept Binding Commitments.  
3. The total payment of £8 million will be allocated between the Department of Health and Social Care in England and the equivalent bodies in Scotland, Wales and Northern Ireland in accordance with the Barnett formula. The payment is expected to save the NHS time and money as the NHS would otherwise need to engage in court proceedings to claim damages. The payment does not preclude the NHS from seeking further damages if it considers doing so to be appropriate.
4. Aspen has also admitted to participating in an historic market-sharing agreement involving fludrocortisone. The CMA is investigating whether, under this agreement, Aspen agreed to pay competitors to stay out of the market in order to protect its position as the sole supplier of fludrocortisone in the UK. The other parties suspected to be parties to the same agreement have not made any admissions. The CMA’s investigation continues in relation to this suspected anti-competitive agreement. 
5. Aspen has agreed to pay a maximum total financial penalty (fine) of £2,101,954 in relation to its admission that it participated in an anti-competitive agreement involving fludrocortisone. This penalty will only become payable when the CMA has completed that aspect of its investigation and if it finds that the agreement at issue breached the law. The CMA may impose a financial penalty (i.e. a fine) on any business found to have infringed UK or EU competition law. In calculating financial penalties, the CMA takes into account a number of factors including the seriousness of the infringement, turnover in the relevant market and any mitigating or aggravating factors.
6. The identity of the other parties to the suspected anti-competitive agreement involving fludrocortisone, which is still under investigation by the CMA, will be disclosed if the CMA decides to issue a statement of objections in this case. A statement of objections gives parties notice of a proposed infringement decision under the competition law prohibitions in the Competition Act 1998 and the EU law equivalents. It is a provisional decision and does not necessarily lead to an infringement decision. Aspen has admitted to an infringement of competition law, but the CMA has taken no decision in relation to the subject matter of the investigation at this stage.

First Trenitalia has today (14 August 2019) been announced as the successful bidder to operate the West Coast Partnership, set to provide passengers with new trains, more seats, simplified fares and more frequent services on the West Coast Main Line.

Both the Transport Secretary Grant Shapps and Keith Williams, chair of the Rail Review, have heralded the Partnership as vital to deliver the swift introduction of significant benefits for passengers. The new Partnership is also designed to fit with the direction of the Review and to facilitate the implementation of Williams’ recommendations in due course.

It also reflects a significant move away from the previous flawed franchising system to tackle issues already highlighted by the Williams Review, with the use of a forecast revenue mechanism (FRM) to avoid a repeat of the issues that affected the previous East Coast Main Line. This mechanism will be supported by a new annual review process, to ensure partnership working is effective, collaborative and continually improving.

The Transport Secretary has also confirmed that the government intends to produce a white paper in due course setting out the recommendations of Williams, to bring forward his vision for a truly passenger focused industry centred on clear, accountable leadership.

Transport Secretary Grant Shapps said:

This award is positive news for passengers, with more services, more direct connections and ambitious plans for a cleaner, greener railway, and also represents a decisive shift towards a new model for rail.

It is a Partnership supported by Keith Williams, built with the flexibility to respond to his recommendations and deliver fundamental reform to a flawed system. Meeting Keith last week confirmed our shared determination to deliver a future that puts passengers at the heart of the railways, and get our trains to run on time.

That is why I have asked Keith to produce his recommendations for a white paper, with fearless proposals that will deliver a railway system fit for the 21st century.

Keith Williams, Chair of the Rail Review, said:

The railway needs reform that prioritises the customers and communities it serves, with an absolute focus on delivering benefits for passengers. I have also been clear that my review must not stop or delay investment and innovation.

This West Coast Partnership delivers for passengers. It is a step forward that is firmly in line with the review, introducing benefits for passengers today and capable of incorporating the reforms needed for the future.

Today’s award confirms that, from December 2022, passengers will benefit from 263 extra train services every week, with Motherwell set to become a major calling point for most West Coast Partnership services. Destinations including Llandudno and Gobowen will now be served by direct trains to and from London, and Walsall will receive its first direct intercity services. Subject to approval from the Office of Rail and Road, 2 trains per hour will run between Liverpool and London.

First Trenitalia will also oversee the introduction of new environmentally-friendly trains, entirely replacing the diesel-only fleet and reducing CO2 emissions by 61%. It will also invest £117 million in a major refurbishment of the current Pendolino fleet, providing more comfortable seats and additional luggage space.

The new operator will also strive for ambitious green targets by investing in stations and depots to reduce the environmental impact of the Partnership. This includes introducing new solar panels and energy efficient air conditioning, alongside a commitment to achieving an 80% reduction in non-recyclable waste from products sold or supplied on-board trains.

First Trenitalia will also oversee the introduction of:

• more flexible and convenient smart ticketing options
• free wifi and high quality mobile connectivity on board services
• improved delay repay compensation for all passengers
• £32 million of investment into developing and delivering infrastructure capacity and capability improvements
• 10 new secure cycle storage facilities; improved bus facilities; 900 new car parking spaces, and 100 new Electric Vehicle charging points
• new ticket machines at stations, removal of the administration fee and enabling on-the-day changes to both advance tickets and seat reservations
• new initiatives to increase diversity, inclusion and skills retention in the rail industry

First Trenitalia will also act at the Shadow Operator responsible for HS2. The government will shortly launch a review into HS2 and the Partnership has been designed in order to ensure that it can implement the review’s outcomes.

Today (14 August 2019) the Department for Transport, together with the rail industry, has confirmed the brand new 16-17 Saver will launch next week, guaranteeing half-price travel for young people in England and Wales.

Whether starting or returning to sixth-form or college, beginning an apprenticeship or entering the world of work, teenagers can start buying their discounted tickets on Monday 2 September 2019.

It is forecast to save young people and their families an average of £186 every year and is set to boost education opportunities, communities and businesses with young people able to travel more affordably.

Rail Minister Chris Heaton-Harris, said:

The brand-new Saver means that a generation of rail passengers can now benefit from cheaper fares, keeping money in their pocket and helping them get to school, college and work.

We want to create a railway system that’s fit for the 21st century and provides a reliable, punctual journey. It’s tempting to say fares should never rise, but the truth is that if we stop investing in our railways then we’ll never see it improved.

Through the Saver, the 26-30 Railcard, and a record £48 billion investment in the railways, we are focused on providing passengers with the frequent, reliable and affordable journeys they deserve.

The launch comes as the Rail Delivery Group (RDG) confirmed that over 327,000 people are now saving a third off their journeys after purchasing the 26-30 Railcard, saving an average of £19 per month since it launched in January.

Today’s announcement means that passengers aged between 16 and 30 will now benefit from significant savings on their travel.

Available for purchase for £30 online, the 16-17 Saver will be on sale at 9.00am on Tuesday 20 August. From this date, up to 1.2 million young people are eligible for the 50% discount it offers on most rail travel, including peak and season tickets.

Robert Nisbet, Director, Nations and Regions at RDG said:

The launch of the 16-17 Saver, in partnership with the Department for Transport, demonstrates the rail industry’s commitment to providing the best value fares for all customers.

There are 1.2 million people aged 16 or 17 years in Great Britain – working together, we want to ensure they can access affordable rail travel with the new 16-17 Saver.

David Hughes, Chief Executive of the Association of Colleges said:

This rail discount for 16 and 17-year olds is a huge step in the right direction and will help to alleviate the financial pressures facing young people and their families across the country.

Many from disadvantaged backgrounds find themselves making difficult choices about their future based on how much their journey to college will cost, increasing the pressures of staying in education.

Travel costs should never be a barrier to education, today’s announcement will give a much needed helping hand to thousands who rely on rail travel to access education and training.

The new Saver means that young people are now eligible for a child fare until their 18th birthday. It is valid across England, Wales and services into Scotland.

The root and branch review of the rail industry, led by Keith Williams, is looking at fares reform and affordability for passengers. It is intending to publish recommendations in due course, with the anticipation that reforms will begin during 2020.

January 2020 will be the seventh year running the government will have capped fares in line with inflation. Since 2014 fares have, on average, remained below the annual inflation cap.