The September data shows:
- on average, house prices have not changed since August 2022
- there has been an annual price rise of 9.5% which makes the average property in the UK valued at £294,559
England
In England, the September data shows on average, house prices have not changed since August 2022. The annual price rise of 9.6% takes the average property value to £314,278.
The regional data for England indicates that:
- the North West experienced the greatest monthly rise with an increase of 0.6%
- the North East saw the lowest annual price growth, with a movement of 5.8%
- the South West experienced the greatest annual price rise, up by 11.9%
- London saw the lowest annual price decrease, with a fall of -0.6%
Price change by region for England
| Region | Average price September 2022 | Annual change % since September 2021 | Monthly change % since August 2022 |
| East Midlands | £252,982 | 11.3 | 0 |
|---|---|---|---|
| East of England | £362,197 | 10.4 | 0.1 |
| London | £544,113 | 6.9 | -0.6 |
| North East | £163,768 | 5.8 | 0.3 |
| North West | £219,005 | 9.1 | 0.6 |
| South East | £403,515 | 10.3 | -0.2 |
| South West | £336,583 | 11.9 | 0.3 |
| West Midlands | £253,864 | 10.1 | -0.3 |
| Yorkshire and the Humber | £212,593 | 8.5 | 0 |
Repossession sales by volume for England
The lowest number of repossession sales in May 2022 was in the East of England.
The highest number of repossession sales in May 2022 was in the North West.
| Repossession sales | May 2022 |
| East Midlands | 4 |
|---|---|
| East of England | 2 |
| London | 15 |
| North East | 11 |
| North West | 23 |
| South East | 6 |
| South West | 8 |
| West Midlands | 7 |
| Yorkshire and the Humber | 14 |
| England | 90 |
Average price by property type for England
| Property type | September 2022 | September 2021 | Difference % |
| Detached | £493,722 | £443,154 | 11.4 |
|---|---|---|---|
| Semi-detached | £302,715 | £272,744 | 11 |
| Terraced | £258,044 | £236,426 | 9.1 |
| Flat/maisonette | £253,862 | £242,010 | 4.9 |
| All | £314,278 | £286,832 | 9.6 |
Funding and buyer status for England
| Transaction type | Average price September 2022 | Annual price change % since September 2021 | Monthly price change % since August 2022 |
| Cash | £293,434 | 8.6 | -0.2 |
|---|---|---|---|
| Mortgage | £324,583 | 9.9 | 0.1 |
| First-time buyer | £260,759 | 9 | 0.1 |
| Former owner occupier | £360,605 | 10.2 | -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 | £408,157 | 19.3 | 1.9 |
|---|---|---|---|
| Existing resold property | £303,106 | 15.4 | 2 |
London
London shows, on average, house prices have fallen by 0.6% since August 2022. An annual price rise of 6.9% takes the average property value to £544,113.
Average price by property type for London
| Property type | September 2022 | September 2021 | Difference % |
| Detached | £1,110,089 | £1,025,398 | 8.3 |
|---|---|---|---|
| Semi-detached | £711,663 | £651,780 | 9.2 |
| Terraced | £602,256 | £554,727 | 8.6 |
| Flat/maisonette | £446,475 | £426,704 | 4.6 |
| All | £544,113 | £509,148 | 6.9 |
Funding and buyer status for London
| Transaction type | Average price September 2022 | Annual price change % since September 2021 | Monthly price change % since August 2022 |
| Cash | £558,368 | 6.3 | -0.9 |
|---|---|---|---|
| Mortgage | £538,631 | 7 | -0.5 |
| First-time buyer | £467,887 | 6.2 | -0.5 |
| Former owner occupier | £627,873 | 7.6 | -0.7 |
Building status for London
| Building status | Average price September 2022 | Annual price change % since September 2021 | Monthly price change % since August 2022 |
| New build | £571,060 | 10.7 | 0.8 |
|---|---|---|---|
| Existing resold property | £541,088 | 8.8 | 1.6 |
Wales
Wales shows, on average, house prices have risen by 2% since August 2022. An annual price rise of 12.9% takes the average property value to £223,798.
There were 6 repossession sales for Wales in May 2022.
Average price by property type for Wales
| Property type | September 2022 | September 2021 Difference % | |
| Detached | £342,603 | £302,103 | 13.4 |
|---|---|---|---|
| Semi-detached | £217,876 | £191,235 | 13.9 |
| Terraced | £175,077 | £154,975 | 13 |
| Flat/maisonette | £138,134 | £129,138 | 7 |
| All | £223,798 | £198,146 | 12.9 |
Funding and buyer status for Wales
| Transaction type | Average price September 2022 | Annual price change % since September 2021 | Monthly price change % since August 2022 |
| Cash | £216,481 | 12.2 | 1.9 |
|---|---|---|---|
| Mortgage | £228,057 | 13.3 | 1 |
| First-time buyer | £192,833 | 12.9 | 2.1 |
| Former owner occupier | £260,241 | 13.1 | 1.9 |
Building status for Wales
| Building status | Average price September 2022 | Annual price change % since September 2021 | Monthly price change % since August 2022 |
| New build | £311,152 | 21.5 | 2.2 |
|---|---|---|---|
| Existing resold property | £213,290 | 16.5 | 2.2 |
UK house prices
UK house prices increased by 9.5% in the year to September 2022, down from % in August 2022. On a non-seasonally adjusted basis, average house prices in the UK had no change between August and September 2022, down from an increase of 3.0% during the same period a year earlier (August and September 2021).
The UK Property Transactions Statistics showed that in September 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 104,980. This is 7.6% higher than a year ago (September 2021). Between August and September2022, UK transactions increased by 1.1% on a seasonally adjusted basis.
House price growth was strongest in the South West where prices increased by 17% in the year to September 2022. The lowest annual growth was in London, where prices increased by 8.3% in the year to September 2022.
See the economic statement.
The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. The price data feeding into the September 2022 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of COVID-19 took hold.
Background
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We publish the UK House Price Index (HPI) on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. We will publish the October 2022 UK HPI at 9:30am on Wednesday 14 December 2022. See calendar of release dates.
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We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month's UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
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The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
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Sales volume data is available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions that require us to create a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
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Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI f
