UK House Price Index for May 2022
20 Jul 2022 10:05 AM
The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.
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 |
|