HM Land Registry
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UK House Price Index for March 2022

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

The March data shows:

  • on average, house prices have risen 0.3% since February 2022
  • there has been an annual price rise of 9.8% which makes the average property in the UK valued at £278,436

‚ÄčEngland

In England the March data shows, on average, house prices have risen by 0.3% since February 2022. The annual price rise of 9.9% takes the average property value to £297,524.

The regional data for England indicates that:

  • the East Midlands experienced the greatest increase in its average property value over the last 12 months with a movement of 12.4%
  • London saw the most significant monthly price fall with a movement of -0.9%
  • the East Midlands experienced the greatest monthly growth with an increase of 1.2%
  • London saw the lowest annual price growth with an increase of 4.8%

Price change by region for England

Region Average price March 2022 Annual change % since March 2021 Monthly change % since February 2022
East Midlands £240,329 12.4 1.2
East of England £343,900 10.9 -0.8
London £523,666 4.8 -0.9
North East £154,913 8.7 1.1
North West £205,121 9.7 0.4
South East £384,996 11.7 1.1
South West £313,834 10.9 0.1
West Midlands £240,528 10.3 1.1
Yorkshire and the Humber £199,607 9 -0.2

Repossession sales by volume for England

The lowest number of repossession sales in January 2022 was in the South West.

The highest number of repossession sales in January 2022 were in London, the North East and the North West.

Repossession sales January 2022
East Midlands 2
East of England 3
London 14
North East 14
North West 14
South East 2
South West 1
West Midlands 3
Yorkshire and the Humber 6
England 59

Average price by property type for England

Property type March 2022 March 2021 Difference %
Detached £471,984 £414,769 13.8
Semi-detached £284,438 £255,740 11.2
Terraced £241,398 £222,161 8.7
Flat/maisonette £244,872 £235,204 4.1
All £297,524 £270,627 9.9

Funding and buyer status for England

Transaction type Average price March 2022 Annual price change % since March 2021 Monthly price change % since February 2022
Cash £278,421 9.5 0.1
Mortgage £307,011 10.1 0.4
First-time buyer £246,613 9.1 0.2
Former owner occupier £341,606 10.8 0.4

Building status for England

Building status* Average price March 2022 Annual price change % since March 2021 Monthly price change % since January 2022
New build £398,167 19.6 6.2
Existing resold property £285,861 9 0.7

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices have fallen by 0.9% since February 2022. An annual price rise of 4.8% takes the average property value to £523,666.

Average price by property type for London

Property type March 2022 March 2021 Difference %
Detached £1,069,981 £968,148 10.5
Semi-detached £676,450 £625,379 8.2
Terraced £571,963 £538,252 6.3
Flat/maisonette £435,731 £426,489 2.2
All £523,666 £499,862 4.8

Funding and buyer status for London

Transaction type Average price March 2022 Annual price change % since March 2021 Monthly price change % since February 2022
Cash £542,406 4.8 -1.6
Mortgage £517,450 4.7 -0.7
First-time buyer £451,941 4 -1.4
Former owner occupier £601,785 5.8 -0.3

Building status for London

Building status* Average price March 2022 Annual price change % since March 2021 Monthly price change % since January 2022
New build £565,192 9.9 5.5
Existing resold property £517,559 3.8 0.6

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices have risen by 0.4% since February 2022. An annual price rise of 11.7% takes the average property value to £206,395.

There were 4 repossession sales for Wales in January 2022.

Average price by property type for Wales

Property type March 2022 March 2021 Difference %
Detached £320,539 £279,878 14.5
Semi-detached £199,786 £178,224 12.1
Terraced £159,608

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