House Price Index, May 2011

Statistics on Average House Prices and Annual House Price Inflation include data for the United Kingdom and its Government Regions for the period May 2011. The latest release updates the statistics previously released on 15th June 2011.

The House Price Index (HPI) is calculated by the Department for Communities and Local Government, as a monthly series of changes in house prices since February 2002 across the different regions of the UK (including Wales).  The data are not seasonally adjusted so month-on-month comparisons should be treated with caution.

The key points from the latest release are:

• Over the year to May 2011, the HPI in Wales decreased by 6.1 per cent, compared with an annual decrease to April 2011 of 1.4 per cent.
• Across the UK as a whole, the HPI decreased by 1.6 per cent over the year to May 2011, compared with an annual decrease to April 2011 of 0.3 per cent.
• Comparing May 2011 with April 2011 (not seasonally adjusted), average house prices decreased in Wales and across the UK as a whole.
• The average house price* in Wales in May 2011 was £140,399, the second lowest figure amongst the regions of the UK (higher only than the North East).
• The average house price* in the UK in May 2011 was £203,528, whilst the UK figure, excluding London and the South East, was £168,381.

Notes:
*Mix-adjusted house prices which take account of the different mix of properties sold in the period in question and are thus unaffected by varying sales of particular property types in one period when compared to another.

Further information

Communities and Local Government website: House Price Index, May 2011.

Contact

Tel: 029 2082 5055
E-mail: stats.housing@wales.gsi.gov.uk

Next update

August 2011 (provisional - to be confirmed on the 'Due Out Soon' page)