National statistics

UK House Price Index summary: September 2022

Published 16 November 2022

1. Headline statistics for September 2022

The average price of a property in the UK was £294,559

The annual price change for a property in the UK was 9.5%

The monthly price change for a property in the UK was 0.0%

The monthly index figure (January 2015 = 100) for the UK was 154.5

Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read Revisions to the UK HPI data.

Next publication of UK HPI

The October 2022 UK HPI will be published at 9.30am on Wednesday 14 December 2022. See the calendar of release dates for more information.

2. Economic statement

The annual percentage change rate for average UK house prices for September 2022 was 9.5%, compared with 13.1% in the year to August 2022 and 15.2% in the year to July 2022. Two factors caused annual percentage change to slow this month:

1. UK house prices remained unchanged between August and September 2022.
2. UK house prices rose sharply in September 2021, which coincided with changes to Stamp Duty Land Tax.

Average UK house prices increased by a smaller amount between July and September 2022 than the same period last year. This base effect has led to the slowing of annual percentage change since July 2022.

Average UK house prices increased by £3,200 between July and August 2022 and remained unchanged between August and September 2022. In contrast, average UK house prices increased by £7,500 between July and August 2021, and by £8,600 between August and September 2021. It is likely that average house prices were slightly inflated in September 2021 as buyers in England and Northern Ireland rushed to complete property purchases before Stamp Duty Land Tax changes at the end of September 2021. Further information on the impact that changes to land taxes had on UK house prices in 2021 can be found in previous ONS releases.

Steadily increasing prices throughout 2022 resulted in the average UK house price reaching record high levels. The average UK house price was £295,000 in September 2022, which is £26,000 higher than this time last year, and unchanged since August 2022. Average house prices increased over the year to £314,000 (9.6%) in England, to £224,000 in Wales (12.9%), to £192,000 in Scotland (7.3%) and to £176,000 in Northern Ireland (10.7%).

On a non-seasonally adjusted basis, average house prices in the UK remained unchanged between August and September 2022, with a 0.0% change in price. This is down from an increase of 3.3% during the same period a year earlier (August and September 2021).

House price growth was strongest in the South West where prices increased by 11.9% in the year to September 2022. The lowest annual percentage change was in North East, where prices increased by 5.8% in the year to September 2022.

The Royal Institution of Chartered Surveyors’ (RICS’) September 2022 UK Residential Market Survey reported that new buyer enquiries continue to decline for the fifth consecutive month, with supply on the market remaining restricted.

The Bank of England’s Agents summary of business conditions 2022 Q3 reported that demand for property still exceeded supply. However prospective homebuyers had become more cautious due to concern about rising living costs.

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 103,930. This is 36.8% lower than a year ago (September 2021). Between August and September 2022, UK transactions increased by 0.2% on a seasonally adjusted basis.

The Bank of England’s Money and Credit September 2022 release reported that mortgage approvals for house purchases, an indicator of future borrowing, decreased significantly to 66,800 in September 2022, from 74,400 in August 2022. This is below the 6-month average of 67,200.

3. Price changes

3.1 Annual price change

Annual price change for UK by country over the past 5 years

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Average house prices in the UK increased by 9.5% in the year to September 2022, down from 13.1% in August 2022.

At the country level, the largest annual house price growth in the year to September 2022 was recorded in Wales, where house prices increased by 12.9%.

England saw house prices increase by 9.6% in the year to September 2022.

Scotland saw houses prices increase by 7.3% in the year to September 2022.

Northern Ireland saw house prices increase by 10.7% over the year to Quarter 3 (July to September) 2022.

3.2 Average price by country and government office region

Price, monthly change and annual change by country and government office region

Country and government office region	Price	Monthly change	Annual change
England	£314,278	0.0%	9.6%
Northern Ireland (Quarter 3 - 2022)	£176,131	4.1%	10.7%
Scotland	£191,941	-0.9%	7.3%
Wales	£223,798	2.0%	12.9%
East Midlands	£252,982	0.0%	11.3%
East of England	£362,197	0.1%	10.4%
London	£544,113	-0.6%	6.9%
North East	£163,768	0.3%	5.8%
North West	£219,005	0.6%	9.1%
South East	£403,515	-0.2%	10.3%
South West	£336,583	0.3%	11.9%
West Midlands Region	£253,864	-0.3%	10.1%
Yorkshire and The Humber	£212,593	0.0%	8.5%

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Price changes by country and government office region

On a non-seasonally adjusted basis, average house prices in the UK remained unchanged between August 2022 and September 2022, This compares with an increase of 3.3% during the same period a year earlier (August and September 2021).

On a seasonally adjusted basis, average house prices in the UK increased by 0.1% between August 2022 and September 2022.

Note: The Northern Ireland figure represents a 3-month change and is not comparable with the other regions and countries.

3.3 Average price by property type

Average monthly price by property type

Property type	September 2022	September 2021	Difference
Detached	£463,150	£415,681	11.4%
Semi-detached	£286,654	£258,268	11.0%
Terraced	£241,880	£221,471	9.2%
Flat or maisonette	£232,987	£222,368	4.8%
All	£294,559	£269,003	9.5%

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4. Sales volumes

The amount of time between the sale of a property and the registration of this information varies. It typically ranges between 2 weeks and 2 months but can be longer. Volume figures for the most recent 2 months are not yet at a reliable level for reporting, so they are not included in the report. Published transactions for recent months will increase as later registered transactions are incorporated into the index.

Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read Revisions to the UK HPI data for more information.

4.1 Sales volumes

Number of sales volumes by country

Comparing the provisional volume estimate for the current month with the revised volume estimate for the corresponding month in the previous year

Country	July 2022	July 2021
England	51,838	46,709
Northern Ireland (Quarter 3 - 2022)	2,134	2,821
Scotland	9,349	10,991
Wales	3,023	3,506

Note: Comparing the provisional volume estimate for the current month with the revised 12-month volume estimate.

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Note: The ‘Difference’ column has been removed from this table as the latest month’s data are not yet complete.

Note: The number of property transactions for July 2022 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional volume estimate for July 2021 with the provisional estimate for July 2022, volume transactions increased by 264.7% in England, decreased by 12.4% in Scotland and increased by 199.9% in Wales. Northern Ireland’s volume transactions decreased by 15.0% in the year to Quarter 3 2022.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, in the year to July 2022 volume transactions increased by 41.9% in England, increased by 6.1% in Wales, decreased by 11.1% in Scotland, and decreased by 9.6% in Northern Ireland.

4.2 Sales volumes for the UK over the past 5 years

Sales volumes for 2018 to 2022 by country: July

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Note: The number of property transactions for July 2022 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional volume estimate for July 2021 with the provisional estimate for July 2022, UK volume transactions increased by 133.6% in the year to July 2022.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, UK volume transactions increased by 31.4% in the year to July 2022.

5. Property status for UK

Transactions involving the creation of a new register, such as new builds, are more complex and need more time to process. This means they can take longer to appear in the land registers. The volume of new build transactions for the most recent 2 months are not at a reliable level for reporting the breakdown between new build and existing resold property, so they are not included in the report.

New build and existing resold property

Property status	Average price July 2022	Monthly change	Annual change
New build	£383,076	1.6%	18.4%
Existing resold property	£284,611	2.0%	14.7%

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Note: Since the October 2017 release, amendments have been made to our estimation model when calculating our provisional estimate. Find out further information and the impact of this change in the methods used to produce the UK HPI.

6. Buyer status for Great Britain

First time buyer and former owner occupier

For Great Britain only, Northern Ireland data is not available for buyer status.

Type of buyer	Average price September 2022	Monthly change	Annual change
First time buyer	£245,350	0.1%	8.9%
Former owner occupier	£345,044	-0.1%	10.1%

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7. Funding status for Great Britain

Cash and mortgage

For Great Britain only, Northern Ireland data is not available for funding status.

Funding status	Average price September 2022	Monthly change	Annual change
Cash	£278,324	-0.2%	8.5%
Mortgage	£307,711	0.1%	9.8%

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8. Housing transaction distributions

Between April and June 2022, there were 186,804 property sales.

The most popular price range for:

• England was £175,000 to £199,999 – 10,198 properties were purchased
• Scotland was £125,000 to £149,999 – 2,520 properties were purchased
• Wales was £125,000 to £149,999 – 1,113 properties were purchased
• Northern Ireland was £125,000 to £149,999 – 911 properties were purchased

The charts below show the distribution of housing transactions for Q2 (April to June) 2022 for countries of the UK. Data for Great Britain is presented in bands of £25,000 up to £10 million, followed by a larger band for over £10 million. Data for Northern Ireland is presented in bands of £25,000 up to £500,000, followed by a larger band for over £500,000.

In line with the UK HPI revisions policy, the number of transactions will increase as more data are incorporated into the index, which would also impact the distributions presented in this analysis.

England housing transactions

Price band	Housing transactions
less than £25,000	14
£25,000 - £49,999	433
£50,000 - £74,999	2471
£75,000 - £99,999	5123
£100,000 - £124,999	6985
£125,000 - £149,999	9109
£150,000 - £174,999	10162
£175,000 - £199,999	10198
£200,000 - £224,999	9396
£225,000 - £249,999	9497
£250,000 - £274,999	9258
£275,000 - £299,999	8031
£300,000 - £324,999	7032
£325,000 - £349,999	6579
£350,000 - £374,999	5787
£375,000 - £399,999	5349
£400,000 - £424,999	4387
£425,000 - £449,999	3948
£450,000 - £474,999	3528
£475,000 - £499,999	3210
£500,000 - £524,999	2349
£525,000 - £549,999	2135
£550,000 - £574,999	2038
£575,000 - £599,999	1839
£600,000 - £624,999	1552
£625,000 - £649,999	1399
£650,000 - £674,999	1371
£675,000 - £699,999	1134
£700,000 - £724,999	992
£725,000 - £749,999	863
£750,000 - £774,999	925
£775,000 - £799,999	724
£800,000 - £824,999	639
£825,000 - £849,999	575
£850,000 - £874,999	594
£875,000 - £899,999	493
£900,000 - £924,999	439
£925,000 - £949,999	366
£950,000 - £974,999	348
£975,000 - £999,999	336
£1,000,000 - £1,249,999	1841
£1,250,000 - £1,499,999	1197
£1,500,000 - £1,749,999	671
£1,750,000 - £1,999,999	382
£2,000,000 - £4,999,999	787
£5,000,000 - £9,999,999	76
greater than £10,000,000	28

Scotland housing transactions

Price band	Housing transactions
less than £25,000	71
£25,000 - £49,999	636
£50,000 - £74,999	1568
£75,000 - £99,999	2452
£100,000 - £124,999	2397
£125,000 - £149,999	2520
£150,000 - £174,999	2373
£175,000 - £199,999	2219
£200,000 - £224,999	1813
£225,000 - £249,999	1642
£250,000 - £274,999	1488
£275,000 - £299,999	1270
£300,000 - £324,999	1022
£325,000 - £349,999	786
£350,000 - £374,999	637
£375,000 - £399,999	474
£400,000 - £424,999	416
£425,000 - £449,999	283
£450,000 - £474,999	262
£475,000 - £499,999	175
£500,000 - £524,999	182
£525,000 - £549,999	101
£550,000 - £574,999	116
£575,000 - £599,999	91
£600,000 - £624,999	82
£625,000 - £649,999	56
£650,000 - £674,999	67
£675,000 - £699,999	43
£700,000 - £724,999	47
£725,000 - £749,999	33
£750,000 - £774,999	29
£775,000 - £799,999	30
£800,000 - £824,999	22
£825,000 - £849,999	23
£850,000 - £874,999	17
£875,000 - £899,999	11
£900,000 - £924,999	10
£925,000 - £949,999	9
£950,000 - £974,999	9
£975,000 - £999,999	10
£1,000,000 - £1,249,999	43
£1,250,000 - £1,499,999	24
£1,500,000 - £1,749,999	13
£1,750,000 - £1,999,999	13
£2,000,000 - £4,999,999	5
£5,000,000 - £9,999,999	0
greater than £10,000,000	0

Wales housing transactions

Price band	Housing transactions
less than £25,000	1
£25,000 - £49,999	21
£50,000 - £74,999	157
£75,000 - £99,999	557
£100,000 - £124,999	778
£125,000 - £149,999	1113
£150,000 - £174,999	1014
£175,000 - £199,999	868
£200,000 - £224,999	665
£225,000 - £249,999	589
£250,000 - £274,999	484
£275,000 - £299,999	445
£300,000 - £324,999	315
£325,000 - £349,999	284
£350,000 - £374,999	225
£375,000 - £399,999	208
£400,000 - £424,999	113
£425,000 - £449,999	123
£450,000 - £474,999	94
£475,000 - £499,999	81
£500,000 - £524,999	64
£525,000 - £549,999	48
£550,000 - £574,999	48
£575,000 - £599,999	53
£600,000 - £624,999	29
£625,000 - £649,999	22
£650,000 - £674,999	20
£675,000 - £699,999	25
£700,000 - £724,999	9
£725,000 - £749,999	11
£750,000 - £774,999	14
£775,000 - £799,999	19
£800,000 - £824,999	9
£825,000 - £849,999	6
£850,000 - £874,999	6
£875,000 - £899,999	2
£900,000 - £924,999	3
£925,000 - £949,999	2
£950,000 - £974,999	3
£975,000 - £999,999	2
£1,000,000 - £1,249,999	9
£1,250,000 - £1,499,999	5
£1,500,000 - £1,749,999	2
£1,750,000 - £1,999,999	0
£2,000,000 - £4,999,999	0
£5,000,000 - £9,999,999	0
greater than £10,000,000	0

Northern Ireland housing transactions

Price band	Housing transactions
less than £25,000	6
£25,000 - £49,999	97
£50,000 - £74,999	425
£75,000 - £99,999	831
£100,000 - £124,999	807
£125,000 - £149,999	911
£150,000 - £174,999	816
£175,000 - £199,999	602
£200,000 - £224,999	354
£225,000 - £249,999	289
£250,000 - £274,999	203
£275,000 - £299,999	167
£300,000 - £324,999	134
£325,000 - £349,999	97
£350,000 - £374,999	82
£375,000 - £399,999	55
£400,000 - £424,999	44
£425,000 - £449,999	24
£450,000 - £474,999	16
£475,000 - £499,999	15
greater than £500,000	103

9. Access the data

Download the data as CSV files or access it with our UK HPI tool.

Data revisions

View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.

10. About the UK House Price Index

The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.

Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.

Find out more about the UK House Price Index.

11. Contact

Eileen Morrison, Data Services Team Leader, HM Land Registry

Email eileen.morrison@landregistry.gov.uk

Telephone 0300 006 5288

Aimee North, Head of Housing Market Indices, Office for National Statistics

Email aimee.north@ons.gov.uk

Telephone 01633 456400

Ciara Cunningham, Statistician for the Northern Ireland HPI

Email ciara.cunningham@finance-ni.gov.uk

Telephone 028 90 336035

Anne MacDonald, Land & Property Data Team, Registers of Scotland

Email Anne.MacDonald@ros.gov.uk

Telephone 0131 378 4991