Trends in house prices and affordability in the UK.Jump to full report >>
The average UK property price increased from £224,968 to £226,234 in the year to 1 February 2019, a 0.6% increase.
The largest annual increases in house prices were in Wales (4.1%), the North West (4.0%) and the West Midlands (2.9%). Scotland (-0.2%), the South East (-1.8%), the North East (-0.8%) and London (-3.8%) all saw decreases. Statistics for Northern Ireland are only produced quarterly - prices grew by 5.5% between quarter 4 2017 and quarter 4 2018.
In 2018, the ratio of median house prices to median earnings was 7.8, which remained unchanged from the high set in 2017. The ratio of lower-quartile house prices to lower-quartile earnings was 7.2.
The UK House Price Index is produced by the Land Registry and the Office for National Statistics. Alternative measures of house prices include indices from Nationwide, Halifax and the Royal Institute of Chartered Surveyors.