GovWire

UK House Price Index for December 2022

Land Registry

February 15
09:30 2023

The December data shows:

  • on average, house prices have fallen by 0.4% since November 2022
  • there has been an annual price rise of 9.8% which makes the average property in the UK valued at 294,329.

England

In England, the December data shows that, on average, house prices have fallen 0.2% since November 2022. The annual price rise of 10.3% takes the average property value to 315,119.

The regional data for England indicates that:

  • the East Midlands experienced the greatest annual price rise, up by 12.3%
  • Yorkshire and the Humber experienced the greatest monthly growth, with an increase of 0.6%
  • London saw the lowest annual price growth, with an increase of 6.7%
  • The South West saw the most significant monthly price fall, with a movement of 1.8%

Price change by region for England

Region Average price December 2022 Annual change % since December 2021 Monthly change % since November 2022
East Midlands 256,159 12.3 0.5
East of England 363,779 9.9 -0.8
London 543,099 6.7 0.0
North East 163,731 11.7 -0.5
North West 221,101 12.2 -0.1
South East 404,229 10.1 0.4
South West 330,601 8.9 -1.8
West Midlands 256,206 10.7 0.0
Yorkshire and the Humber 214,773 11.8 0.6

Repossession sales by volume for England

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

The highest number of repossession sales in October 2022 was in the North West.

Repossession sales October 2022
East Midlands 7
East of England 2
London 7
North East 10
North West 17
South East 5
South West 5
West Midlands 3
Yorkshire and the Humber 12
England 72

Average price by property type for England

Property type December 2022 December 2021 Difference %
Detached 494,459 446,839 10.7
Semi-detached 303,135 271,790 11.5
Terraced 257,846 234,369 10
Flat/maisonette 257,260 238,748 7.8
All 315,119 285,784 10.3

Funding and buyer status for England

Transaction type Average price December 2022 Annual price change % since December 2021 Monthly price change % since November 2022
Cash 294,010 9.2 -0.4
Mortgage 325,544 10.7 -0.1
First-time buyer 262,527 10.6 0.0
Former owner occupier 360,439 10 -0.4

Building status for England

Building status Average price October 2022 Annual price change % since October 2021 Monthly price change % since September 2022
New build 425,047 21.1 1.4
Existing resold property 307,651 12.1 0.2

London

London shows, on average, house prices didnt change between October 2022 and November 2022. An annual price rise of 6.7% takes the average property value to 543,099.

Average price by property type for London

Property type December 2022 December 2021 Difference %
Detached 1,112,825 1,037,453 7.3
Semi-detached 708,503 656,557 7.9
Terraced 593,676 556,229 6.7
Flat/maisonette 449,782 424,499 6
All 543,099 509,111 6.7

Funding and buyer status for London

Transaction type Average price December 2022 Annual price change % since December 2021 Monthly price change % since November 2022
Cash 558,237 5.7 0.2
Mortgage 537,446 6.9 0.0
First-time buyer 469,496 7 0.2
Former owner occupier 623,114 6.3 -0.2

Building status for London

Building status Average price October 2022 Annual price change % since October 2021 Monthly price change % since September 2022
New build 584,214 15.6 -0.2
Existing resold property 537,510 5.4 -1.2

Wales

Wales shows, on average, house prices have risen by 0.7% since November 2022. An annual price rise of 10.3% takes the average property value to 222,402.

There were 9 repossession sales for Wales in October 2022.

Average price by property type for Wales

Property type December 2022 December 2021 Difference %
Detached 341,060 308,215 10.7
Semi-detached 215,835 194,759 10.8
Terraced 174,062 157,496 10.5
Flat/maisonette 137,638 129,951 5.9
All 222,402 201,586 10.3

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