Accredited official statistics

UK House Price Index Wales: February 2022

Published 13 April 2022

1. Headline statistics for February 2022

The average price of a property in Wales was £205,114

The annual price change of a property for Wales was 14.2%

The monthly price change of a property for Wales was -0.7%

The index figure for Wales (January 2015 = 100) was 150.7

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

Next publication of UK HPI

The March 2022 UK HPI will be published at 9.30am on Wednesday 18 May 2022. See the calendar of release dates for more information.

2. Economic statement

Wales house prices increased by 14.2% in the year to February 2022, up from 14.0% in January 2022. Wales house prices were growing faster than the UK annual rate of 10.9% in the year to February 2022. On a non-seasonally adjusted basis average house prices in Wales decreased by 0.7% between January and February 2022, compared with a decrease of 0.9% during the same period a year earlier (January and February 2021). On a seasonally adjusted basis, average house prices in Wales decreased by 0.2% between January and February 2022.

Comparing the provisional volume estimate for December 2020 with the provisional estimate for December 2021, the volume of transactions decreased by 47.3% in Wales. UK volume transactions decreased by 47.1% over the same period.

In Wales, all local authority areas showed an increase in average house prices in the year to February 2022. Merthyr Tydfil showed the strongest growth, rising by 22.7% to £148,000 in the year to February 2022. In contrast, Flintshire showed the lowest annual change, with an increase of 9.1% in the year to February 2022, with the average house price at £201,000.

Of all property types, detached houses showed the largest annual growth, rising by 16.9% in the year to February 2022 to £318,000. Flats and maisonettes showed the lowest annual growth, rising by 10.8% in the year to February 2022, to an average price of £133,000.

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’s set of house price data.

3. Price change

3.1 Annual price change

Annual price change for Wales over the past 5 years

In Wales, average prices increased by 14.2% in the year to February 2022, up from 14.0% in January 2022.

Annual price change by local authority for Wales

Low numbers of sales transactions in some local authorities can lead to volatility in the series.

While we make efforts to account for this volatility, the change in price in these local levels can be influenced by the type and number of properties sold in any given period.

Geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements.

Local authorities February 2022 February 2021 Difference
Blaenau Gwent £122,221 £102,888 18.8%
Bridgend £190,771 £171,528 11.2%
Caerphilly £177,006 £151,673 16.7%
Cardiff £250,224 £224,242 11.6%
Carmarthenshire £194,890 £169,582 14.9%
Ceredigion £240,976 £204,835 17.6%
Conwy £209,880 £180,791 16.1%
Denbighshire £194,922 £175,948 10.8%
Flintshire £201,483 £184,701 9.1%
Gwynedd £202,108 £175,539 15.1%
Isle of Anglesey £228,788 £199,987 14.4%
Merthyr Tydfil £147,837 £120,493 22.7%
Monmouthshire £336,692 £301,490 11.7%
Neath Port Talbot £154,510 £130,963 18.0%
Newport £223,798 £203,058 10.2%
Pembrokeshire £229,187 £199,902 14.6%
Powys £237,610 £212,918 11.6%
Rhondda Cynon Taf £145,968 £129,228 13.0%
Swansea £185,164 £167,567 10.5%
Torfaen £183,931 £165,346 11.2%
Vale of Glamorgan £301,218 £249,670 20.6%
Wrexham £197,476 £174,302 13.3%
Wales £205,114 £179,554 14.2%

Average price by local authority for Wales

In February 2022, the most expensive area to purchase a property was Monmouthshire, where the average cost was £337,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where the average cost was £122,000.

3.2 Average price change by property type

Average price change by property type for Wales

Property type February 2022 February 2021 Difference
Detached £318,093 £272,068 16.9%
Semi-detached £197,867 £173,324 14.2%
Terraced £158,271 £140,338 12.8%
Flat or maisonette £133,301 £120,351 10.8%
All £205,114 £179,554 14.2%

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 by local authority

Sales volumes for Wales by local authority

Local authorities December 2021 December 2020
Blaenau Gwent 50 98
Bridgend 96 216
Caerphilly 104 227
Cardiff 250 495
Carmarthenshire 133 291
Ceredigion 55 129
Conwy 105 208
Denbighshire 58 194
Flintshire 101 257
Gwynedd 108 224
Isle of Anglesey 71 129
Merthyr Tydfil 31 75
Monmouthshire 67 150
Neath Port Talbot 91 235
Newport 100 244
Pembrokeshire 82 219
Powys 94 252
Rhondda Cynon Taf 170 366
Swansea 186 347
Torfaen 49 160
Vale of Glamorgan 82 245
Wrexham 100 168
Wales 2,183 4,929

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 December 2021 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional volume estimate for December 2020 with the provisional estimate for December 2021, volume transactions decreased by 47.3% in Wales.

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, volume transactions decreased by 15.5% in Wales in the year to December 2021.

4.2 Sales volumes

Sales volumes for Wales over the past 5 years

Date Sales volumes for Wales
December 2017 4,659
December 2018 4,255
December 2019 4,089
December 2020 4,929
December 2021 2,183

5. Property status

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 for Wales

Property status Average price December 2021 Monthly change Annual change
New build £283,667 -0.1% 23.7%
Existing resold property £199,044 2.2% 11.5%

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 methods used to produce the UK HPI.

6. Buyer status

First time buyer and former owner occupier for Wales

Type of buyer Average price February 2022 Monthly change Annual change
First time buyer £175,952 -0.7% 13.5%
Former owner occupier £239,543 -0.6% 15.0%

7. Funding status

Cash and mortgage indicator for Wales

Funding status Average price February 2022 Monthly change Annual change
Cash £198,684 -1.1% 14.1%
Mortgage £208,899 -0.5% 14.3%

8. Repossession sales volume

Due to a period of 2 weeks to 2 months between completion and registration of sales, repossession volume figures for the most recent 2 months are not yet complete, so they are not included in the report.

Repossession sales volume

Country Repossession sales volume December 2021
Wales 1

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 for Wales queries

Eileen Morrison, Data Services Team Leader, HM Land Registry

Email eileen.morrison@landregistry.gov.uk

Telephone 0300 006 5288