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October data shows:

• on average, house prices have risen by 0.3% since September 2022
• there has been an annual price rise of 12.6% which makes the average property in the UK valued at 拢296,422

England

In England, the October data shows that, on average, house prices have risen 0.2% since September 2022. The annual price rise of 13.2% takes the average property value to 拢316,073.

The regional data for England indicates that:

• the North East experienced the greatest annual price rise, up by 17.3%
• the North East experienced the greatest monthly growth, with an increase of 1.9%
• London saw the lowest annual price growth, with an increase of 6.7%
• London saw the most significant monthly price fall, with a movement of 鈥�0.9%

Price change by region for England

Region	Average price October 2022	Annual change % since October 2021	Monthly change % since September 2022
East Midlands	拢254,079	13.9	0
East of England	拢362,865	11.5	0
London	拢541,720	6.7	-0.9
North East	拢168,367	17.3	1.9
North West	拢220,292	16.1	0.5
South East	拢404,990	12	0.1
South West	拢339,206	14.9	0.5
West Midlands	拢257,382	14.6	0.9
Yorkshire and the Humber	拢214,036	15.1	0.2

Repossession sales by volume for England

The lowest number of repossession sales in August 2022 was in the East Midlands.

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

Repossession sales	August 2022
East Midlands	2
East of England	4
London	12
North East	13
North West	38
South East	14
South West	9
West Midlands	7
Yorkshire and the Humber	17
England	116

Average price by property type for England

Property type	October 2022	October 2021	Difference %
Detached	拢498,885	拢443,756	12.4
Semi-detached	拢303,336	拢265,189	14.4
Terraced	拢258,717	拢225,569	14.7
Flat/maisonette	拢256,437	拢234,156	9.5
All	拢316,073	拢279,281	13.2

Funding and buyer status for England

Transaction type	Average price October 2022	Annual price change % since October 2021
Monthly price change % since September 2022
Cash	拢296,059	13	0.5
Mortgage	拢326,047	13.3	0.1
First-time buyer	拢262,441	13.6	0.3
Former owner occupier	拢362,469	12.8	0.2

Building status for England

Building status	Average price October 2022	Annual price change % since October 2021	Monthly price change % since September 2022
New build	拢415,178	23.9	3.4
Existing resold property	拢306,621	12.3	1.3

London

London shows, on average, house prices have fallen by 0.9% since September 2022. An annual price rise of 6.7% takes the average property value to 拢541,720.

Average price by property type for London

Property type	October 2022	October 2021	Difference %
Detached	拢1,108,042	拢1,055,347	5
Semi-detached	拢704,647	拢654,905	7.6
Terraced	拢595,324	拢549,320	8.4
Flat/maisonette	拢447,689	拢424,759	5.4
All	拢541,720	拢507,712	6.7

Funding and buyer status for London

Transaction type	Average price October 2022	Annual price change % since October 2021	Monthly price change % since September 2022
Cash	拢556,416	4.9	-1.1
Mortgage	拢536,164	7.1	-0.9
First-time buyer	拢467,446	7	-0.7
Former owner occupier	拢622,839	6.2	-1.2

Building status for London

Building status	Average price October 2022	Annual price change % since October 2021 Monthly price change % since September 2022
New build	拢573,994	14.6	1.8
Existing resold property	拢544,556	6.1	0.7

Wales

Wales shows, on average, house prices have risen by 0.1% since September 2022. An annual price rise of 11.8% takes the average property value to 拢223,824.

There were 11 repossession sales for Wales in August 2022.

Average price by property type for Wales

Property type	October 2022	October 2021	Difference %
Detached	拢343,145	拢310,866	10.4
Semi-detached	拢217,205	拢193,319	12.4
Terraced	拢175,214	拢154,502	13.4
Flat/maisonette	拢138,647	拢128,085	8.2
All	拢223,824	拢200,151	11.8

Funding and buyer status for Wales

Transaction type	Average price October 2022	Annual price change % since October 2021	Monthly price change % since September 2022
Cash	拢215,998	11.1	-0.2
Mortgage	拢228,335	12.1	0.2
First-time buyer	拢193,018	12.4	0.1
Former owner occupier	拢260,059	11.2	0

Building status for Wales

Building status	Average price October 2022	Annual price change % since October 2021	Monthly price change % since September 2022
New build	拢313,397	25.3	2.7
Existing resold property	拢214,280	13.6	0.6

UK house prices

The annual percentage change for average UK house prices was 12.6% in the year to October 2022, compared with 9.9% in the year to September 2022 and 12.9% in the year to August 2022.

The UK Property Transactions Statistics showed that in October 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of 拢40,000 or greater was 108,480. This is 38.0% higher than a year ago (October 2021). Between September and October 2022, UK transactions increased by 2.3% on a seasonally adjusted basis.

House price growth was strongest in the North East where prices increased by 17.3% in the year to October 2022. The lowest annual growth was in London, where prices increased by 6.7% in the year to October 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. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month鈥檚 set of house price data.

Access the full UK HPI

Background

1. 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 November 2022 UK HPI at 9:30am on Wednesday 18 January 2023. See calendar of release dates.

2. 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鈥檚 UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.

3. 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.

4. 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.

5. Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI for more information.

6. HM Land Registry, Registers of Scotland, Land & Property 天美影院/Northern Ireland Statistics and Research Agency and the Valuation Office Agency supply data for the UK HPI.

7. The Office for National Statistics (ONS) and Land & Property 天美影院/Northern Ireland Statistics and Research Agency calculate the UK HPI. It applies a hedonic regression model that uses the various sources of data on property price, including HM Land Registry鈥檚 Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the and .

8. We take the UK Property Transaction statistics from the HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series. HMRC presents the UK aggregate transaction figures on a seasonally adjusted basis. We make adjustments for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in aparticular month.

9. UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.

10. The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.

11. The UK HPI reflects the final transaction price for sales of residential property. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the 鈥榩rice鈥� represents a valuation.

12. HM Land Registry provides information on residential property transactions for England and Wales, collected as part of the official registration process for properties that are sold for full market value.

13. The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).

14. Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.

15. For England, we show repossession sales volume recorded by government office region. For Wales, we provide repossession sales volume for the number of repossession sales.

16. Repossession sales data is available from April 2016 in CSV format. Find out more information about repossession sales.

17. We publish CSV files of the raw and cleansed aggregated data every month for England, Scotland and Wales. We publish Northern Ireland data on a quarterly basis. They are available for free use and re-use under the Open Government Licence.

18. HM Land Registry鈥檚 purpose is to protect land ownership and provide services and data that underpin an efficient and informed property market.

19. HM Land Registry is a government department created in 1862. Its vision is: 鈥淎 world-leading property market as part of a thriving economy and a sustainable future.鈥�

20. HM Land Registry safeguards land and property ownership worth in excess of 拢8 trillion, including over 拢1 trillion of mortgages. The Land Register contains more than 26 million titles showing evidence of ownership for some 88% of the land mass of England and Wales.

21. For further information about HM Land Registry visit .

22. Follow us on , our , and .

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