HM Land Registry: UK House Price Index May 2022
The latest UK House Price Index May 2022 data shows house price changes for England, Scotland, Wales and Northern Ireland up to end of May 2022.
The May data shows:
- monthly house prices rose by 1.2% since April 2022
- an annual price increase of 12.8% which takes the average property value in the UK to £283,496
England
In England the May data shows, on average, house prices have risen by 1.3% since April 2022. The annual price 13.1% takes the average property value to £302,278.
The regional data for England indicates that:
- the South West experienced the greatest increase in its average property value over the last 12 months with a movement of 16.9%
- London saw the lowest annual price growth with an increase of 8.2%
- the North West saw the most significant monthly price fall with a movement of -0.2% since April 2022
- the East of England experienced the greatest monthly growth with an increase of 2.6% since April 2022
Price change by region for England
| Region | Average price May 2022 | Annual change % since May 2021 | Monthly change % since April 2022 |
| East Midlands | £244,060 | 15.2 | 1.9 |
| East of England | £353,574 | 14.8 | 2.6 |
| London | £526,183 | 8.2 | 0.2 |
| North East | £153,592 | 9.7 | -0.1 |
| North West | £205,783 | 11.5 | -0.2 |
| South East | £388,531 | 13.5 | 1.4 |
| South West | £323,418 | 16.9 | 1.0 |
| West Midlands | £247,162 | 14.0 | 2.2 |
| Yorkshire and the Humber | £204,835 | 12.6 | 2.1 |
Repossession sales by volume for England
The lowest number of repossession sales in March 2022 was in the East of England and West Midlands region.
The highest number of repossession sales in March 2022 was in the North West.
| Repossession sales | March 2022 |
| East Midlands | 2 |
| East of England | 1 |
| London | 6 |
| North East | 10 |
| North West | 11 |
| South East | 7 |
| South West | 2 |
| West Midlands | 1 |
| Yorkshire and the Humber | 6 |
| England | 46 |
Average price by property type for England
| Property type | May 2022 | May 2021 | Difference % |
| Detached | £474,802 | £411,963 | 15.3 |
| Semi-detached | £288,881 | £253,768 | 13.8 |
| Terraced | £247,961 | £219,133 | 13.2 |
| Flat/maisonette | £248,105 | £229,010 | 8.3 |
| All | £302,278 | £267,295 | 13.1 |
Funding and buyer status for England
| Transaction type | Average price May 2022 | Annual price change % since May 2021 | Monthly price change since April 2022 |
| Cash | £283,166 | 12.8 | 1.2 |
| Mortgage | £311,806 | 13.2 | 1.3 |
| First-time buyer | £251,183 | 12.6 | 1.4 |
| Former owner/occupier | £346,356 | 13.6 | 1.2 |
Building status for England
| Building status | Average price May 2022 | Annual price change % since May 2021 | Monthly price change % since April 2022 |
| New-build | £434,515 | 27.8 | 5.4 |
| Existing resold property | £288,329 | 8.4 | 0.4 |
London
London shows, on average, house prices have risen by 0.2% since April 2022. An annual price rise of 8.2% takes the average property value to £526,183.
Average price by property type for London
| Property type | May 2022 | May 2021 | Difference % |
| Detached | £1,082,097 | £973,866 | 11.1 |
| Semi-detached | £688,058 | £619,856 | 11 |
| Terraced | £579,590 | £525,642 | 10.3 |
| Flat/maisonette | £433,071 | £410,330 | 5.5 |
| All | £526,183 | £486,387 | 8.2 |
Funding and buyer status for London
| Transaction type | Average price May 2022 | Annual price change % since May 2021 | Monthly price change % since April 2022 |
| Cash | £536,015 | 6.8 | -1.5 |
| Mortgage | £521,706 | 8.5 | 0.5 |
| First-time buyer | £453,778 | 7.7 | 0.4 |
| Former owner/occupier | £605,271 | 8.8 | 0.0 |
Building status for London
| Building status | Average price May 2022 | Annual price change % since May 2022 | Monthly price change % since May 2021 |
| New-build | £614,010 | 18.7 | 4.0 |
| Existing resold property | £518,972 | 4.0 | -0.2 |
Wales
Wales shows, on average, house prices have risen by 0.9% since April 2022. An annual price rise of 14.4% takes the average property value to £212,414.
There was 1 repossession sale for Wales in March 2022.
Average price by property type for Wales
| Property type | May 2022 | May 2021 | Difference % |
| Detached | £324,485 | £281,178 | 15.4 |
| Semi-detached | £205,508 | £179,663 | 14.4 |
| Terraced | £166,270 | £145,038 | 14.6 |
| Flat/maisonette | £135,803 | £123,659 | 9.8 |
| All | £212,414 | £185,654 | 14.4 |
Funding and buyer status for Wales
| Transaction type | Average price May 2022 | Annual price change % since May 2021 | Monthly price change % since April 2022 |
| Cash | £205,733 | 14.2 | 0.5 |
| Mortgage | £216,337 | 14.5 | 1.1 |
| First-time buyer | £182,992 | 14.2 | 1.1 |
| Former owner/occupier | £247,011 | 14.7 | 0.6 |
Building status for Wales
| Building status | Average price May 2022 | Annual price change % since May 2021 | Monthly price change % since April 2022 |
| New-build | £331,159 | 34.2 | 6.3 |
| Existing resold property | £201,633 | 11.3 | 0.8 |
UK house prices
UK house prices increased by 12.8% in the year to May 2022, up from 11.9% in April 2022. On a non-seasonally adjusted basis, average house prices in the UK increased by 1.2% between April and May 2022, up from an increase of 0.4% during the same period a year earlier (April and May 2021).
The UK Property Transactions Statistics showed that in May 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 109,210. This is 5.1% lower than a year ago (May 2021). Between April and May 2022, UK transactions increased by 1.3% on a seasonally adjusted basis.
House price growth was strongest in the South West where prices increased by 16.9% in the year to May 2022. The lowest annual growth was in London, where prices increased by 8.2% in the year to May 2022.
See the economic statement.
The data is accurate. However, this release may be subject to increased revisions as we add more data over the coming months.
Kindly shared by HM Land Registry
Main article photo courtesy of Pixabay
