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May 2021 Property Price Update

15 July 2021
Land registry data (UK HPI)May Av. priceMonthly change12 month
City of Westminster£974,523+5.9%+1.4%
Kensington and Chelsea£1,209,210+8.1%-10.8%
  • England house prices grew by 9.7% in the year to May 2021, unchanged since April 2021. 
  • The North West was the fastest growing region with annual growth of 15.2% in the year to May 2021.  
  • In London, average house prices increased by 5.2% in the year to May 2021, down from an increase of 5.3% in April 2021.
  • Comparing the provisional volume estimate for March 2020 with the provisional estimate for March 2021, volume transactions increased by 71.1% in England. UK volume transactions increased by 70.9% over the same period.
  • Across England, terraced houses showed the biggest increase out of all property types, growing by 11.2% in the year to May 2021 to £223,000. 
  • The lowest annual change was in flats and maisonettes which increased by 4.7% in the year to April 2021 to £230,000.
  • In May 2021, the most expensive area to purchase a property was Kensington and Chelsea, where the average cost was £1.2 million. 
  • In contrast, the cheapest area to purchase a property was Burnley, where the average cost was £100,000.
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