It’s that time again as we rapidly approach the end of 2022. Here are the latest statics concerning house prices in the UK. Below you’ll find October’s insights from RICS UK and Halifax, along with the latest price index from the Government covering September’s data.
“The October 2022 RICS UK Residential Survey results point to a further deterioration in market conditions over the month, with the fall in buyer demand and agreed sales gathering pace. On the back of this, house price growth has now ground to a halt at the national level. By way of contrast, demand remains firm across the lettings market, with tenant enquiries still rising within all parts of the UK.” – RICS UK Market Survey – October 2022
Halifax also reported the following key points for October:
- Average house prices fell by -0.4% in October (vs. -0.1% in September)
- Annual rate of growth dropped to +8.3% (from +9.8%)
- Typical UK property now costs £292,598 (down from £293,664 last month)
Government Land Registry House Prices Index – September 2022
| Region / County | 1 Month % | 3 Month % | 6 Month % | 12 Month % | 24 Month % |
|---|---|---|---|---|---|
| England | 0.00% | 3.36% | 6.82% | 9.57% | 21.74% |
| Wales | 1.99% | 4.62% | 8.71% | 12.95% | 31.62% |
| London | -0.59% | 1.63% | 4.96% | 6.87% | 10.32% |
| South East | -0.19% | 3.00% | 6.28% | 10.28% | 21.57% |
| South West | 0.34% | 4.82% | 7.76% | 11.90% | 24.79% |
| West Midlands Region | 0.83% | 3.97% | 6.92% | 12.57% | 22.26% |
| East of England | 0.08% | 2.70% | 5.97% | 10.45% | 20.72% |
| East Midlands | -0.03% | 3.26% | 7.51% | 11.34% | 25.48% |
If you have an investor looking to make a move in the property market then contact us today on 0117 937 4333 or send us an enquiry to enquiries@blackandwhitebridging.co.uk, to find out how we can help.
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Sources: Index data taken from Government Land Registry House Price Index – Sept 2022, September statistics taken from Halifax House Price Index, Nationwide House Price Index, RICS UK Market Survey
