HM Land Registry publishes UK House Price Index August 2022

The latest UK House Price Index August 2022 data shows house price changes for England, Scotland, Wales and Northern Ireland up to end of August 2022.

The August data shows:

• • on average, house prices have risen 0.9% since July 2022
  • there has been an annual price rise of 13.6% which makes the average property in the UK valued at £295,903

England

In England, the August data shows on average, house prices have risen by 1% since July 2022. The annual price rise of 14.3% takes the average property value to £315,965.

The regional data for England indicates that:

• • the East Midlands experienced the greatest monthly rise with an increase of 2.3%
  • the West Midlands saw the lowest monthly price growth, with a movement of -0.2%
  • the South-West experienced the greatest annual price rise, up by 17%
  • London saw the lowest annual price growth, with a rise of 8.3%

Price change by region for England:

Repossession sales by volume for England:

• • The lowest number of repossession sales in May 2022 was in the South-West.
  • The highest number of repossession sales in May 2022 was in the North-East.

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 risen by 0.9% since July 2022. An annual price rise of 8.3% takes the average property value to £552,755.

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 0.2% since July 2022. An annual price rise of 14.6% takes the average property value to £220,059.

There were 5 repossession sales for Wales in August 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 13.6% in the year to August 2022, down from 16.0% in July 2022. On a non-seasonally-adjusted basis, average house prices in the UK increased by 0.9% between July and August 2022, down from an increase of 3.0% during the same period a year earlier (July and August 2021).

The UK Property Transactions Statistics showed that in August 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 (August 2021). Between July and August 2022, UK transactions increased by 1.1% on a seasonally adjusted basis.

House price growth was strongest in the South-West where prices increased by 17.0% in the year to August 2022. The lowest annual growth was in London, where prices increased by 8.3% in the year to August 2022.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion.

Access the full UK HPI

Kindly shared by HM Land Registry