Wednesday 18 Jan 2023 @ 11:10
HM Revenue and Customs
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UK House Price Index for November 2022

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

The November data shows:

  • on average, house prices have fallen by 0.3% since October 2022
  • there has been an annual price rise of 10.3% which makes the average property in the UK valued at £294,910.

England

In England, the November data shows that, on average, house prices have fallen 0.2% since October 2022. The annual price rise of 10.9% takes the average property value to £315,073.

The regional data for England indicates that:

  • the North West experienced the greatest annual price rise, up by 13.5%
  • the East of England experienced the greatest monthly growth, with an increase of 0.6%
  • London saw the lowest annual price growth, with an increase of 6.3%
  • The North East saw the most significant monthly price fall, with a movement of –2.6%

Price change by region for England

Region Average price November 2022 Annual change % since November 2021 Monthly change % since October 2022
East Midlands £253,498 12.2 0.2
East of England £365,144 10.2 0.6
London £542,311 6.3 0.1
North East £162,596 11.6 -2.6
North West £221,224 13.5 0.4
South East £402,466 10.0 -0.5
South West £337,144 11.8 -0.3
West Midlands £256,937 12.3 -0.1
Yorkshire and the Humber £212,329 11.4 -0.7

Repossession sales by volume for England

The lowest number of repossession sales in September 2022 was in the East of England.

The highest number of repossession sales in August 2022 was in the South East.

Repossession sales September 2022
East Midlands 7
East of England 1
London 8
North East 7
North West 16
South East 17
South West 2
West Midlands 9
Yorkshire and the Humber 14
England 81

Average price by property type for England

Property type November 2022 November 2021 Difference %
Detached £495,804 £447,138 10.9
Semi-detached £302,583 £270,991 11.7
Terraced £259,045 £230,447 12.4
Flat/maisonette £254,485 £238,304 6.8
All £315,073 £284,149 10.9

Funding and buyer status for England

Transaction type Average price November 2022 Annual price change % since November 2021 Monthly price change % since October 2022
Cash £294,910 10.5 -0.2
Mortgage £325,101 11 -0.2
First-time buyer £261,377 11 -0.2
Former owner occupier £361,530 10.8 -0.1

Building status for England

Building status Average price September 2022 Annual price change % since September 2021 Monthly price change % since August 2022
New build £425,527 20.2 5.4
Existing resold property £307,755 8.9 0.6

London

London shows, on average, house prices have risen by 0.1% since October 2022. An annual price rise of 6.3% takes the average property value to £542,311.

Average price by property type for London

Property type November 2022 November 2021 Difference %
Detached £1,113,571 £1,045,214 6.5
Semi-detached £711,357 £657,069 8.3
Terraced £601,131 £551,005 9.1
Flat/maisonette £443,767 £427,938 3.7
All £542,311 £510,077 6.3

Funding and buyer status for London

Transaction type Average price November 2022 Annual price change % since November 2021 Monthly price change % since October 2022
Cash £556,297 4.6 0.2
Mortgage £536,895 6.7 0.1
First-time buyer £466,460 6.1 -0.1
Former owner occupier £625,609 6.5 0.4

Building status for London

Building status Average price September 2022 Annual price change % since September 2021 Monthly price change % since August 2022
New build £589,560 15 4.6
Existing resold property £543,025 6.4 -0.4

Wales

Wales shows, on average, house prices have fallen by 1.6% since October 2022. An annual price rise of 10.7% takes the average property value to £220,366.

There were 10 repossession sales for Wales in August 2022.

Average price by property type for Wales

Property type November 2022 November 2021 Difference %
Detached £336,710 £307,705 9.4
Semi-detached £214,007 £193,404 10.7
Terraced £172,992 £153,113

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