HM Land Registry
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UK House Price Index for December 2022
The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.
The December data shows:
- on average, house prices have fallen by 0.4% since November 2022
- there has been an annual price rise of 9.8% which makes the average property in the UK valued at £294,329.
England
In England, the December data shows that, on average, house prices have fallen 0.2% since November 2022. The annual price rise of 10.3% takes the average property value to £315,119.
The regional data for England indicates that:
- the East Midlands experienced the greatest annual price rise, up by 12.3%
- Yorkshire and the Humber experienced the greatest monthly growth, with an increase of 0.6%
- London saw the lowest annual price growth, with an increase of 6.7%
- The South West saw the most significant monthly price fall, with a movement of –1.8%
Price change by region for England
| Region | Average price December 2022 | Annual change % since December 2021 | Monthly change % since November 2022 |
|---|---|---|---|
| East Midlands | £256,159 | 12.3 | 0.5 |
| East of England | £363,779 | 9.9 | -0.8 |
| London | £543,099 | 6.7 | 0.0 |
| North East | £163,731 | 11.7 | -0.5 |
| North West | £221,101 | 12.2 | -0.1 |
| South East | £404,229 | 10.1 | 0.4 |
| South West | £330,601 | 8.9 | -1.8 |
| West Midlands | £256,206 | 10.7 | 0.0 |
| Yorkshire and the Humber | £214,773 | 11.8 | 0.6 |
Repossession sales by volume for England
The lowest number of repossession sales in October 2022 was in the East of England.
The highest number of repossession sales in October 2022 was in the North West.
| Repossession sales | October 2022 |
|---|---|
| East Midlands | 7 |
| East of England | 2 |
| London | 7 |
| North East | 10 |
| North West | 17 |
| South East | 5 |
| South West | 5 |
| West Midlands | 3 |
| Yorkshire and the Humber | 12 |
| England | 72 |
Average price by property type for England
| Property type | December 2022 | December 2021 | Difference % |
|---|---|---|---|
| Detached | £494,459 | £446,839 | 10.7 |
| Semi-detached | £303,135 | £271,790 | 11.5 |
| Terraced | £257,846 | £234,369 | 10 |
| Flat/maisonette | £257,260 | £238,748 | 7.8 |
| All | £315,119 | £285,784 | 10.3 |
Funding and buyer status for England
| Transaction type | Average price December 2022 | Annual price change % since December 2021 | Monthly price change % since November 2022 |
|---|---|---|---|
| Cash | £294,010 | 9.2 | -0.4 |
| Mortgage | £325,544 | 10.7 | -0.1 |
| First-time buyer | £262,527 | 10.6 | 0.0 |
| Former owner occupier | £360,439 | 10 | -0.4 |
Building status for England
| Building status | Average price October 2022 | Annual price change % since October 2021 | Monthly price change % since September 2022 |
|---|---|---|---|
| New build | £425,047 | 21.1 | 1.4 |
| Existing resold property | £307,651 | 12.1 | 0.2 |
London
London shows, on average, house prices didn’t change between October 2022 and November 2022. An annual price rise of 6.7% takes the average property value to £543,099.
Average price by property type for London
| Property type | December 2022 | December 2021 | Difference % |
|---|---|---|---|
| Detached | £1,112,825 | £1,037,453 | 7.3 |
| Semi-detached | £708,503 | £656,557 | 7.9 |
| Terraced | £593,676 | £556,229 | 6.7 |
| Flat/maisonette | £449,782 | £424,499 | 6 |
| All | £543,099 | £509,111 | 6.7 |
Funding and buyer status for London
| Transaction type | Average price December 2022 | Annual price change % since December 2021 | Monthly price change % since November 2022 |
|---|---|---|---|
| Cash | £558,237 | 5.7 | 0.2 |
| Mortgage | £537,446 | 6.9 | 0.0 |
| First-time buyer | £469,496 | 7 | 0.2 |
| Former owner occupier | £623,114 | 6.3 | -0.2 |
Building status for London
| Building status | Average price October 2022 | Annual price change % since October 2021 | Monthly price change % since September 2022 |
|---|---|---|---|
| New build | £584,214 | 15.6 | -0.2 |
| Existing resold property | £537,510 | 5.4 | -1.2 |
Wales
Wales shows, on average, house prices have risen by 0.7% since November 2022. An annual price rise of 10.3% takes the average property value to £222,402.
There were 9 repossession sales for Wales in October 2022.
Average price by property type for Wales
| Property type | December 2022 | December 2021 | Difference % |
|---|---|---|---|
| Detached | £341,060 | £308,215 | 10.7 |
| Semi-detached | £215,835 | £194,759 | 10.8 |
| Terraced | £174,062 | £157,496
Channel website: https://www.gov.uk/government/organisations/land-registry
Original article link: https://www.gov.uk/government/news/uk-house-price-index-for-december-2022 Share this article
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