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UK House Price Index for August 2022

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

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

Region Average price August 2022 Annual change % since August 2021 Monthly change % since July 2022
East Midlands £255,114 16.9 2.3
East of England £364,885 14.3 1.2
London £552,755 8.3 0.9
North East £164,395 14.3 0.9
North West £219,025 15.3 0.4
South East £406,981 14.8 1.4
South West £335,927 17 1.3
West Midlands £255,202 13.9 -0.2
Yorkshire and the Humber £212,313 13.9 0.8

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.

Repossession sales May 2022
East Midlands 7
East of England 4
London 6
North East 25
North West 14
South East 10
South West 3
West Midlands 6
Yorkshire and the Humber 20
England 95

Average price by property type for England

Property type August 2022 August 2021 Difference %
Detached £497,992 £429,637 15.9
Semi-detached £301,973 £263,191 14.7
Terraced £258,301 £226,049 14.3
Flat/maisonette £259,591 £233,812 11
All £315,965 £276,457 14.3

Funding and buyer status for England

Transaction type **Average price August 2022 Annual price change % since August 2021 Monthly price change % since July 2022
Cash £295,374 13.8 1.1
Mortgage £326,163 14.5 1
First-time buyer £262,022 14 0.8
Former owner occupier £362,680 14.6 1.2

Building status for England

Building status Average price August 2022 Annual price change % since August 2021 Monthly price change % since July 2022
New build £420,641 22.3 2.7
Existing resold property £297,193 5.9 1.2

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

Property type August 2022 August 2021 Difference %
Detached £1,121,142 £1,036,859 8.1
Semi-detached £714,098 £651,633 9.6
Terraced £604,387 £553,544 9.2
Flat/maisonette £459,400 £428,618 7.2
All £552,755 £510,268 8.3

Funding and buyer status for London

Transaction type Average price August 2022 Annual price change % since August 2021 Monthly price change % since July 2022
Cash £569,354 6.3 0.7
Mortgage £546,765 8.8 0.9
First-time buyer £476,248 8.4 0.7
Former owner occupier £636,231 8.1 1

Building status for London

Building status Average price August 2022 Annual price change % since August 2021 Monthly price change % since July 2022
New build £593,168 17.2 2.3
Existing resold property £532,570 4.9 1.8

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.

Channel website: https://www.gov.uk/government/organisations/land-registry

Original article link: https://www.gov.uk/government/news/uk-house-price-index-for-august-2022

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