HM Land Registry publishes UK House Price Index September 2022

The UK House Price Index September 2022 data shows house price changes for England, Scotland, Wales and Northern Ireland to September 2022.

The September data shows:

• • on average, house prices have not changed since August 2022
  • there has been an annual price rise of 9.5% which makes the average property in the UK valued at £294,559

England

In England, the September data shows on average, house prices have not changed since August 2022. The annual price rise of 9.6% takes the average property value to £314,278.

The regional data for England indicates that:

• • the North-West experienced the greatest monthly rise with an increase of 0.6%
  • the North East saw the lowest annual price growth, with a movement of 5.8%
  • the South West experienced the greatest annual price rise, up by 11.9%
  • London saw the lowest annual price decrease, with a fall of –0.6%

Price change by region for England:

Repossession sales by volume for England:

The lowest number of repossession sales in May 2022 was in the East of England.

The highest number of repossession sales in May 2022 was in the North-West.

Average price by property type for England:

Funding and buyer status for England:

Building status for England:

London

London shows, on average, house prices have fallen by 0.6% since August 2022. An annual price rise of 6.9% takes the average property value to £544,113.

Average price by property type for London:

Funding and buyer status for London:

Building status for London:

Wales

Wales shows, on average, house prices have risen by 2% since August 2022. An annual price rise of 12.9% takes the average property value to £223,798.

There were 6 repossession sales for Wales in May 2022.

Average price by property type for Wales:

Funding and buyer status for Wales:

Building status for Wales:

UK house prices:

UK house prices increased by 9.5% in the year to September 2022, down from % in August 2022. On a non-seasonally adjusted basis, average house prices in the UK had no change between August and September 2022, down from an increase of 3.0% during the same period a year earlier (August and September 2021).

The UK Property Transactions Statistics showed that in September 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 104,980. This is 7.6% higher than a year ago (September 2021). Between August and September2022, UK transactions increased by 1.1% on a seasonally adjusted basis.

House price growth was strongest in the South West where prices increased by 17% in the year to September 2022. The lowest annual growth was in London, where prices increased by 8.3% in the year to September 2022.

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 2022 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of COVID-19 took hold.

Access the full UK HPI.

Kindly shared by HM Land Registry