HM Land Registry: UK House Price Index October 2021
The latest UK House Price Index October 2021 data shows house price changes for England, Scotland, Wales and Northern Ireland up to end of October 2021.
In the past 18 months all those involved in the property market have been impacted by the effects of coronavirus (COVID-19); HM Land Registry is no different and, as a result, this release of the UK House Price index isn’t as complete as it could be.
The data is accurate. However, this release may be subject to increased revisions as we add more data over the coming months. See Reducing delays for further information.
The October data shows:
- on average, house prices have decreased 1.1% since September 2021
- there has been an annual price rise of 10.2% which makes the average property in the UK valued at £268,349
England
In England the October data shows, on average, house prices have fallen by 1.5% since September 2021. The annual price rise of 9.8% takes the average property value to £285,113.
The regional data for England indicates that:
- London experienced the greatest monthly rise with a movement of 1.9%
- the North East saw the lowest monthly price growth, with a fall of -4.8%
- the East Midlands experienced the greatest annual price rise, up by 11.7%
- London saw the lowest annual price growth, with a rise of 6.2%
Price change by region for England
| Region | Average price October 2021 | Annual change % since October 2020 | Monthly change % since September 2021 |
| East Midlands | £228,290 | 11.7 | -0.9 |
| East of England | £332,216 | 11.2 | -0.1 |
| London | £516,285 | 6.2 | 1.9 |
| North East | £147,719 | 9.7 | -4.8 |
| North West | £195,325 | 9.8 | -4.8 |
| South East | £366,883 | 10.3 | -0.7 |
| South West | £298,600 | 9.9 | -0.7 |
| West Midlands | £226,279 | 8.4 | -3.3 |
| Yorkshire and the Humber | £193,675 | 11.1 | -1.7 |
Repossession sales by volume for England
The lowest number of repossession sales in August 2021 was in the East of England.
The highest number of repossession sales in August 2021 was in the North West.
| Repossession sales | August 2021 |
| East Midlands | 3 |
| East of England | 1 |
| London | 8 |
| North East | 13 |
| North West | 28 |
| South East | 8 |
| South West | 5 |
| West Midlands | 8 |
| Yorkshire and the Humber | 8 |
| England | 82 |
Average price by property type for England
| Property type | October 2021 | October 2020 | Difference % |
| Detached | £452,675 | £397,882 | 13.8 |
| Semi-detached | £269,856 | £245,048 | 10.1 |
| Terraced | £229,815 | £212,253 | 8.3 |
| Flat/maisonette | £241,493 | £227,480 | 6.2 |
| All | £285,113 | £259,592 | 9.8 |
Funding and buyer status for England
| Transaction type | Average price October 2021 | Annual price change % since October 2020 | Monthly price change % since September 2021 |
| Cash | £268,476 | 9.9 | -1.4 |
| Mortgage | £293,553 | 9.8 | -1.6 |
| First-time buyer | £235,842 | 8.8 | -2.2 |
| Former owner occupier | £328,083 | 10.8 | -0.9 |
Building status for England
| Building status* | Average price August 2021 | Annual price change % since August 2020 | Monthly price change % since July 2021 |
| New-build | £370,213 | 17.4 | 2.4 |
| Existing resold property | £273,140 | 8.3 | 3.8 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices have risen by 1.9% since September 2021. An annual price rise of 6.2% takes the average property value to £516,285.
Average price by property type for London
| Property type | October 2021 | October 2020 | Difference % |
| Detached | £1,058,055 | £939,399 | 12.6 |
| Semi-detached | £660,278 | £605,395 | 9.1 |
| Terraced | £557,452 | £522,700 | 6.6 |
| Flat/maisonette | £434,260 | £415,993 | 4.4 |
| All | £516,285 | £486,212 | 6.2 |
Funding and buyer status for London
| Transaction type | Average price October 2021 | Annual price change % since October 2020 | Monthly price change % since September 2021 |
| Cash | £540,273 | 7.7 | 4.5 |
| Mortgage | £508,996 | 5.8 | 1.3 |
| First-time buyer | £444,592 | 5.2 | 1.5 |
| Former owner occupier | £595,364 | 7.6 | 2.4 |
Building status for London
| Building status* | Average price August 2021 | Annual price change % since August 2020 | Monthly price change % since July 2021 |
| New-build | £551,630 | 10.4 | -3.4 |
| Existing resold property | £520,283 | 6.2 | 2.3 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Wales
Wales shows, on average, house prices have risen by 2.6% since September 2021. An annual price rise of 15.5% takes the average property value to £203,224.
There were 3 repossession sales for Wales in August 2021.
Average price by property type for Wales
| Property type | October 2021 | October 2020 | Difference % |
| Detached | £313,765 | £267,098 | 17.5 |
| Semi-detached | £196,266 | £170,351 | 15.2 |
| Terraced | £157,305 | £136,805 | 15 |
| Flat/maisonette | £131,682 | £118,512 | 11.1 |
| All | £203,224 | £175,948 | 15.5 |
Funding and buyer status for Wales
| Transaction type | Average price October 2021 | Annual price change % since October 2020 | Monthly price change % since September 2021 |
| Cash | £197,206 | 15.2 | 2.5 |
| Mortgage | £206,785 | 15.6 | 2.7 |
| First-time buyer | £174,302 | 14.9 | 2.2 |
| Former owner occupier | £237,414 | 16.2 | 3.1 |
Building status for Wales
| Building status* | Average price August 2021 | Annual price change % since August 2020 | Monthly price change % since July 2021 |
| New-build | £274,062 | 20.2 | 2.8 |
| Existing resold property | £187,859 | 10.6 | 4.1 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
UK house prices
UK house prices increased by 10.2% in the year to October 2021, down from 12.3% in September 2021. On a non-seasonally adjusted basis, average house prices in the UK decreased by 1.1% between September and October 2021, compared with an increase of 0.8% during the same period a year earlier (September and October 2020).
The UK Property Transactions Statistics showed that in October 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 76,930. This is 28.3% lower than a year ago. Between September and October 2021, UK transactions fell by 52% on a seasonally adjusted basis, following a large increase in the month prior.
House price growth was strongest in Wales where prices increased by 15.5% in the year to October 2021. The lowest annual growth was in London, where prices increased by 6.2% in the year to October 2021.
The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. The price data feeding into the September 2021 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of COVID-19 took hold.
Kindly shared by HM Land Registry
Main article photo courtesy of Pixabay
