England

In England, the July data shows, on average, house prices have risen by 1.2% since June 2018. The annual price rise of 3% takes the average property value to £248,611.

The regional data for England indicates that:

• the North West experienced the greatest monthly price rise, up by 3.4%
• the East Midlands saw the most significant monthly price fall, down by 0.2% and
• house prices in London fell by 0.7% in the year to July 2018

Price change by region for England

Repossession sales by volume for England

The lowest number of repossession sales in May 2018 was in the East of England.

The highest number of repossession sales in May 2018 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.

Sales volumes for England

The most up-to-date HM Land Registry sales figures available for England show:

• the number of completed house sales in England fell by 16.1% to 58,073 compared with 69,176 in May 2017

London

London shows, on average, house prices have risen by 0.6% since June 2018. An annual price fall of 0.7% takes the average property value to £484,926.

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.

Sales volumes for London

The most up-to-date HM Land Registry sales figures available for London show;

• the number of completed house sales in May 2018 fell by 25.6% to 5,861 compared with 7,874 in May 2017

Wales

Wales shows, on average, house prices have fallen by 0.2% since June 2018. An annual price rise of 4.2% takes the average property value to £157,368.

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.

Sales volumes for Wales

The most up-to-date HM Land Registry sales figures available for Wales show:

• the number of completed house sales in May 2018 fell by 14.4% to 3,368 compared with 3,933 in April 2017
• there were 44 repossession sales in May 2018

Access the full UK HPI

UK house prices rose by 3.1% in the year to July 2018, down from 3.2% in the year to June 2018. This is the lowest UK annual rate since August 2013 when it was 3.0%.

The UK Property Transaction Statistics for July 2018 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 99,270. This is 3.2% lower compared with a year ago. Between June and July 2018, transactions decreased by 0.8%.

House prices grew fastest in the North West region, increasing by 5.6% in the year to July 2018, followed by the South West and the West Midlands, both increasing by 4.4% over the year. House prices in London fell by 0.7% in the year to July 2018, down from an increase of 0.3% in the previous month.

See the economic statement.

Notes to editors

1. The UK House Price Index (UK HPI) is published on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. The August 2018 UK HPI will be published at 9.30am on Wednesday 17 October 2018. See calendar of release dates.

2. The UK House Price Index achieved National Statistic status on the 18 September 2018. The National Statistics badge indicates that the index has been independently assessed and meets the highest standards of trustworthiness, quality and value as defined in the Code of Practice for Statistics.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

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

11. 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.

12. 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.

13. 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.

14. 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).

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

16. 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.

17. 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.

18. 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.

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

20. 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.

21. HM Land Registry safeguards land and property ownership worth in excess of £4 trillion, including around £1 trillion of mortgages. The Land Register contains more than 25 million titles showing evidence of ownership for some 85% of the land mass of England and Wales.

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

23. Follow us on Twitter @HMLandRegistry, our blog, LinkedIn and Facebook

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In August, the Competition and Markets Authority (CMA) opened its initial (Phase 1) investigation into the merger and announced the companies had requested a ‘fast-track’ referral to Phase 2.

The CMA has now confirmed, through its Phase 1 investigation, that the deal raises sufficient concerns to be referred for a more in-depth review. The companies are 2 of the largest grocery retailers in the UK and their stores overlap in hundreds of local areas, where shoppers could face higher prices or a worse quality of service.

These concerns will be considered further in the Phase 2 investigation, along with other issues raised so far with the CMA – including those relating to fuel, general merchandise (such as clothing) and increased ‘buyer power’ over suppliers.

The Phase 2 investigation is a more in-depth review, led by an inquiry group chosen from the CMA’s independent panel members. This will be chaired by Stuart McIntosh, with the other members being Roland Green, John Thanassoulis, Richard Feasey and Claire Whyley. The group will gather evidence – in particular through multiple customer surveys and engagement with other retailers, suppliers and industry bodies – to inform its detailed analysis.

An issues statement, setting out in detail the issues that the inquiry group expects to investigate, will be published in the coming weeks. Members of the public and other interested groups will be invited to give their views on this.

The CMA’s full referral decision and expected timelines for its Phase 2 investigation will be published shortly on the case page.

Thank you very much indeed to General Lacroix and Special Envoy Nicholas Haysom to whom we say farewell and yet look forward to seeing you very soon of course; EGAD Special Envoy Ismael Waes who I know has been working on this dossier for so long and so tirelessly; and also by thanking Ms. Grace John for the valuable human perspective that you have offered this Council.

Mr President the peace agreement signed last week gives hope to all of us, none more so than to the 12 million people of South Sudan. And we welcome very much the commitment that the region has shown on this important issue of peace and security and we have been consistent in this Council in supporting EGAD and the work it has done.

And while the peace agreement signed is a significant achievement, it is the first step on a long journey. We must continue to strive for progress. The people of South Sudan will continue to suffer if peace is not achieved and sustained. That conflict has already killed thousands and forced a third of the population to flee their homes – 2.5 million of whom to neighbouring countries. Half the population is food insecure. Of the 7 million people who need humanitarian assistance, over half are children. And these children, following the years of conflict displacement and economic collapse, are less likely to receive an education than any other children in the world.

South Sudan’s leaders have seemed at times indifferent to the suffering of their people, and this is not Mr. President the result of a natural disaster or an unavoidable situation. It is manmade and so must be the solution. Starting with political stability – the peace agreement must create the conditions for a lasting end to the violence. Now as I said the region has played a vital role in bringing parties to the conflict together and I commend the much needed commitment and energy that they have invested, including states around this table.

And now is the time to build on that momentum. A peace agreement on its own will not deliver and sustain peace for South Sudan. We need to see continued engagement by all parties and ensure that words are turned into meaningful and sustainable actions.

Mr President, those of us who have been saying these things have picked up some irritation and frustration at those sorts of comments. It’s been said we’re not being positive enough or that we are undermining a peace process. I believe that no one will be more positive than those of us around this table if the process really means an end to the violence and a determination to put the needs of the people first. And similarly, those of us around this table have a special responsibility to bring the experience and lessons that we have from other conflicts, other peace processes and indeed from our experience of the South Sudan conflict and peace process to bear. It doesn’t serve the parties to the peace agreement or the people of South Sudan if we do not use our experience and our knowledge from other peacebuilding situations, so it is vital that we adapt and use those lessons. In countries such as Libya, we’ve seen how political agreements can unravel and enable a relapse into violence. From our experience in Colombia, we’ve seen that ongoing commitment from the parties is the key factor for successful implementation of peace agreements.

We’ve also seen the implementation needs support from the region and sustained determined engagement from this Council. We need to draw from all of these experiences when we consider the situation in South Sudan as well as understanding why previous peace processes have not worked in that country, and therefore focus all of our efforts on successful implementation.

We must ensure this agreement does not repeat past mistakes. The continued violence even following the most recent ceasefire agreement is extremely concerning. 19 violations were reported by the Secretary-General between June and September. The increase in humanitarian access incidents and violence against humanitarian workers are gravely concerning. 13 humanitarian workers have been killed in South Sudan this year alone. Further to this, we are deeply concerned that UNMISS peacekeepers have been repeatedly denied access to the key areas to allow them to perform their mandated responsibilities. This is unacceptable and it must end. The region and the international community must closely monitor violations and ensure those responsible are held to account. I very much support Ms. John in calling for the establishment of the hybrid court.

As the international community we must not stand by and allow individuals to undermine peace. The targeted sanctions being imposed in July are an important tool. Now just as important now this agreement has been signed. They can be used to maintain pressure on all the parties to keep the promises that they have made. The arms embargo signalled that the international community will not tolerate attempts to impose military solutions. I urge the region and the wider international community to continue to support these measures.

The United Kingdom remains committed to peace in South Sudan, but in order to be convinced of the party’s commitment, we need to see significant change in approach by the parties to the conflict. They must silence their guns, allow humanitarian workers to deliver lifesaving assistance, and release political prisoners. They must show a genuine commitment to effective and accountable implementation of the peace agreement and must demonstrate that they are willing to work for the benefit of all South Sudanese, including through checks on executive majority power and the transparent use of resources.

Mr President, today the peace process stands at a crossroads. To overcome the challenges ahead, we need unity amongst the international community. We urge the region to continue to drive forward constructive progress, especially on security arrangements in step with the UN and international community. Above all, we urge the leaders of South Sudan to put aside personal interests to work together for a better future for their people. Thank you Mr President.

Housing associations have a central role to play in building the homes we need and challenging the attitudes that hold us back, Theresa May will say in central London today, as she announces new long-term funding for affordable housing.

As part of the Government’s commitment to transform housebuilding, the Prime Minister will announce £2 billion in new funding to give housing associations the long-term certainty they need to deliver tens of thousands of new affordable and social homes.

As the first Prime Minister to address the National Housing Federation Summit, she will pledge this morning to work in partnership with the associations to get more people on the housing ladder and make sure those who can’t afford their own place also have somewhere they’re proud to call home.

Setting out the steps government has already taken to respond to the asks of the sector – including providing long-term certainty on rents and agreeing not to extend the local housing allowance cap to the social sector – Theresa May is expected to announce new long-term funding for housing associations. She will say:

You said that if you were going to take a serious role in not just managing but building the homes this country needs, you had to have the stability provided by long-term funding deals. Well, eight housing associations have already been given such deals, worth almost £600 million and paving the way for almost 15,000 new affordable homes.

And today, I can announce that new longer-term partnerships will be opened up to the most ambitious housing associations through a ground-breaking £2 billion initiative. Under the scheme, associations will be able to apply for funding stretching as far ahead as 2028/29 – the first time any government has offered housing associations such long-term certainty.

Doing so will give you the stability you need to get tens of thousands of affordable and social homes built where they are needed most, and make it easier for you to leverage the private finance you need to build many more.

In return, the Prime Minister will call on housing associations to use their unique combination of qualities – from their close ties with local communities to their expertise as property managers and their ability to ride out the business cycle and carry on building – “to achieve things neither private developers nor local authorities are capable of doing”. She is expected to say:

Today, I’m asking housing associations to use the tools we have given you. Not just to build more homes, though of course more homes are needed. But to take the lead in transforming the very way in which we think about and deliver housing in this country.

Rather than simply acquiring a proportion of the properties commercial developers build, I want to see housing associations taking on and leading major developments themselves. Because creating the kind of large-scale, high-quality developments this country needs requires a special kind of leadership – leadership you are uniquely well-placed to provide.

…Given the right tools and the right support, you can act as the strategic, long-term investors in the kind of high-quality places this country needs. To put it simply, you get homes built. And I want to work with you to transform the way we do so.

The Prime Minister will also urge housing associations to use their “unique status, rich history and social mission” to change the way tenants and society as a whole view social housing. She will say:

For many people, a certain stigma still clings to social housing. Some residents feel marginalised and overlooked, and are ashamed to share the fact that their home belongs to a housing association or local authority.

And on the outside, many people in society – including too many politicians – continue to look down on social housing and, by extension, the people who call it their home.

…We should never see social housing as something that need simply be “good enough”, nor think that the people who live in it should be grateful for their safety net and expect no better.

Whether it is owned and managed by local authorities, TMOs or housing associations, I want to see social housing that is so good people are proud to call it their home… Our friends and neighbours who live in social housing are not second-rate citizens.

The Prime Minister has made it her personal mission to get more people onto the housing ladder. The government has committed over £40 billion to get more homes built – creating the infrastructure to unlock sites where they’re needed most and removing unnecessary barriers to homebuilding, while making it harder for developers to dodge their obligations on affordable homes.