e.surv House Price Index (England and Wales) - October 2020

House Price Index, Market Insight //

e.surv House Price Index (England and Wales) – October 2020

Understand the changes in transaction numbers and average house prices across England and Wales in October 2020.

The monthly e.surv House Price Index reports on transaction numbers and the changes in average house prices across England and Wales. The Index uses the actual price at which every property in England and Wales was transacted, including prices for properties bought with cash, based upon factual Land Registry data as opposed to mortgage-based prices, asking prices or prices based upon samples.

Note: The e.surv House Price Index was formerly the LSL Acadata House Price Index. Content and methodology are unchanged. Please refer to the Notes at the end of the report for more information.

Highlights of the October House Price Index:

  • The market is slowing but still sets record prices in October
  • London and the South East head price growth league
  • Bristol has highest annual growth of all major conurbations
  • Stamp duty holiday continues to support the market

Commenting on the House Price Index (October 2020), Richard Sexton, director at e.surv, says:

“House prices continued to rise month on month through October, however the momentum has slowed significantly. Between September and October, average house prices increased by 0.9%, the slightest monthly increase since prices began to rise in June this year.

“Despite the slowed growth, average property values still stand at 4.4% higher than this time last year. This increase is still thought to be largely buoyed by the purchase of the bigger, and often more expensive, homes – activity which has been encouraged further by the stamp duty holiday in England.

“The resilience of the housing market through the crisis has been astounding, as shown by the continual rise of prices since June. The first national lockdown, which left many in England and Wales almost totally confined to their current homes, certainly seems to have re-focused the minds of a lot of consumers onto the property market.

“At e.surv, our present focus is centred on providing an effective and safe service within England’s lockdown regulations, as well as supporting the market in Wales as it exits the fire break. We will continue to act with the utmost consideration for the safety and wellbeing of our customers, colleagues and the wider public as we continue to navigate the pandemic.”

Summary of regional house prices changes: