The August data shows:
- on average, house prices have risen 0.9% since July 2022
- there has been an annual price rise of 13.6% which makes the average property in the UK valued at 295,903
England
In England, the August data shows on average, house prices have risen by 1% since July 2022. The annual price rise of 14.3% takes the average property value to 315,965.
The regional data for England indicates that:
- the East Midlands experienced the greatest monthly rise with an increase of 2.3%
- the West Midlands saw the lowest monthly price growth, with a movement of -0.2%
- the South West experienced the greatest annual price rise, up by 17%
- London saw the lowest annual price growth, with a rise of 8.3%
Price change by region for England
Region | Average price August 2022 | Annual change % since August 2021 | Monthly change % since July 2022 |
East Midlands | 255,114 | 16.9 | 2.3 |
East of England | 364,885 | 14.3 | 1.2 |
London | 552,755 | 8.3 | 0.9 |
North East | 164,395 | 14.3 | 0.9 |
North West | 219,025 | 15.3 | 0.4 |
South East | 406,981 | 14.8 | 1.4 |
South West | 335,927 | 17 | 1.3 |
West Midlands | 255,202 | 13.9 | -0.2 |
Yorkshire and the Humber | 212,313 | 13.9 | 0.8 |
Repossession sales by volume for England
The lowest number of repossession sales in May 2022 was in the South West.
The highest number of repossession sales in May 2022 was in the North East.
Repossession sales | May 2022 |
East Midlands | 7 |
East of England | 4 |
London | 6 |
North East | 25 |
North West | 14 |
South East | 10 |
South West | 3 |
West Midlands | 6 |
Yorkshire and the Humber | 20 |
England | 95 |
Average price by property type for England
Property type | August 2022 | August 2021 | Difference % |
Detached | 497,992 | 429,637 | 15.9 |
Semi-detached | 301,973 | 263,191 | 14.7 |
Terraced | 258,301 | 226,049 | 14.3 |
Flat/maisonette | 259,591 | 233,812 | 11 |
All | 315,965 | 276,457 | 14.3 |
Funding and buyer status for England
Transaction type | **Average price August 2022 | Annual price change % since August 2021 | Monthly price change % since July 2022 |
Cash | 295,374 | 13.8 | 1.1 |
Mortgage | 326,163 | 14.5 | 1 |
First-time buyer | 262,022 | 14 | 0.8 |
Former owner occupier | 362,680 | 14.6 | 1.2 |
Building status for England
Building status | Average price August 2022 | Annual price change % since August 2021 | Monthly price change % since July 2022 |
New build | 420,641 | 22.3 | 2.7 |
Existing resold property | 297,193 | 5.9 | 1.2 |
London
London shows, on average, house prices have risen by 0.9% since July 2022. An annual price rise of 8.3% takes the average property value to 552,755.
Average price by property type for London
Property type | August 2022 | August 2021 | Difference % |
Detached | 1,121,142 | 1,036,859 | 8.1 |
Semi-detached | 714,098 | 651,633 | 9.6 |
Terraced | 604,387 | 553,544 | 9.2 |
Flat/maisonette | 459,400 | 428,618 | 7.2 |
All | 552,755 | 510,268 | 8.3 |
Funding and buyer status for London
Transaction type | Average price August 2022 | Annual price change % since August 2021 | Monthly price change % since July 2022 |
Cash | 569,354 | 6.3 | 0.7 |
Mortgage | 546,765 | 8.8 | 0.9 |
First-time buyer | 476,248 | 8.4 | 0.7 |
Former owner occupier | 636,231 | 8.1 | 1 |
Building status for London
Building status | Average price August 2022 | Annual price change % since August 2021 | Monthly price change % since July 2022 |
New build | 593,168 | 17.2 | 2.3 |
Existing resold property | 532,570 | 4.9 | 1.8 |
Wales
Wales shows, on average, house prices have risen by 0.2% since July 2022. An annual price rise of 14.6% takes the average property value to 220,059.
There were 5 repossession sales for Wales in August 2022.
Average price by property type for Wales
Property type | August 2022 | August 2021 | Difference % |
Detached | 339,517 | 293,535 | 15.7 |
Semi-detached | 212,933 | 186,319 | 14.3 |
Terraced | 171,347 | 149,275 | 14.8 |
Flat/maisonette | 137,934 | 124,553 | 10.7 |
All | 220,059 | 192,019 | 14.6 |
Funding and buyer status for Wales
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Ministerial Departmental News
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