Accredited official statistics

UK House Price Index summary: March 2022

Published 18 May 2022

1. Headline statistics for March 2022

The average price of a property in the UK was £278,436

The annual price change for a property in the UK was 9.8%

The monthly price change for a property in the UK was 0.3%

The monthly index figure (January 2015 = 100) for the UK was 146

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 April 2022 UK HPI will be published at 9.30am on Wednesday 22 June 2022. See the calendar of release dates for more information.

2. Economic statement

UK house prices increased by 9.8% in the year to March 2022, down from 11.3% in February 2022. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.3% between February and March 2022, down from an increase of 1.6% during the same period a year earlier (February and March 2021).

House price growth was strongest in the East Midlands where prices increased by 12.4% in the year to March 2022. The lowest annual growth was in London, where prices increased by 4.8% in the year to March 2022.

The Royal Institution of Chartered Surveyors’ (RICS’) March 2022 UK Residential Market Survey reported a moderate rise in housing market activity over the month, as buyer demand and sales continued to rise at a modest pace in March.

The Bank of England’s Agents summary of business conditions 2022 Q1 reported that demand in the housing market has remained strong, in particular among first-time buyers, and outstripped the supply of available properties. Along with a constrained supply of new-build houses, this has resulted in elevated house price inflation in some areas.

The UK Property Transactions Statistics showed that in March 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 114,650. This is 35.7% lower than a year ago (March 2021). Between February and March 2022, UK transactions increased by 2.6% on a seasonally adjusted basis.

The Bank of England’s Money and Credit March 2022 release reported that mortgage approvals for house purchases, an indicator of future borrowing, increased slightly to 70,700 in March 2022, from 71,000 in February 2022. This remains above the pre-pandemic 12-month average up to February 2020 of 66,700.

3. Price changes

3.1 Annual price change

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

Average house prices in the UK increased by 9.8% in the year to March 2022, down from 11.3% in February 2022.

At the country level, the largest annual house price growth in the year to March 2022 was recorded in Wales, where house prices increased by 11.7%.

Scotland saw house prices increase by 8.0% in the year to March 2022.

England saw house prices increase by 9.9% in the year to March 2022.

Northern Ireland saw house prices increase by 10.4% over the year to Quarter 1 (January to March) 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 £297,524 0.3% 9.9%
Northern Ireland (Quarter 1 - 2022) £164,590 3.4% 10.4%
Scotland £181,415 0.0% 8.0%
Wales £206,395 0.4% 11.7%
East Midlands £240,329 1.2% 12.4%
East of England £343,900 -0.8% 10.9%
London £523,666 -0.9% 4.8%
North East £154,913 1.1% 8.7%
North West £205,121 0.4% 9.7%
South East £384,966 1.1% 11.7%
South West £313,834 0.1% 10.9%
West Midlands Region £240,528 1.1% 10.3%
Yorkshire and The Humber £199,607 -0.2% 9.0%

Price changes by country and government office region

On a non-seasonally adjusted basis, average house prices in the UK increased by 0.3% between February 2022 and March 2022, down from 1.6% during the same period a year earlier (February 2021 and March 2021). On a seasonally adjusted basis, average house prices in the UK increased by 0.6% between February 2022 and March 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 March 2022 March 2021 Difference
Detached £441,967 £388,601 13.7%
Semi-detached £269,098 £242,157 11.1%
Terraced £226,211 £207,980 8.8%
Flat or maisonette £223,401 £214,881 4.0%
All £278,436 £253,506 9.8%

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

Country January 2022 January 2021
England 30,603 64,857
Northern Ireland (Quarter 1 - 2022) 1,812 2,505
Scotland 7,181 7,753
Wales 1,820 3,173

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 January 2022 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional volume estimate for January 2021 with the provisional estimate for January 2022, volume transactions decreased by 42.6% in England, decreased by 5.0% in Scotland and decreased by 29.9% in Wales. Northern Ireland’s volume transactions decreased by 19.3% in the year to Quarter 1 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 January 2022 volume transactions decreased by 16.0% in England, 6.1% in Scotland, 13.5% in Northern Ireland and 2.3% in Wales.

4.2 Sales volumes for the UK over the past 5 years

Sales volumes for 2017 to 2021 by country: January

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

Comparing the provisional volume estimate for January 2021 with the provisional estimate for January 2022, UK volume transactions decreased by 37.0% in the year to January 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 decreased by 14.6% in the year to January 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 January 2022 Monthly change Annual change
New build £373,663 6.5% 19.9%
Existing resold property £268,481 1.0% 9.3%

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 March 2022 Monthly change Annual change
First time buyer £231,704 0.2% 8.9%
Former owner occupier £326,500 0.4% 10.7%

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 March 2022 Monthly change Annual change
Cash £263,468 0.1% 9.3%
Mortgage £290,785 0.3% 10.0%

8. Housing transaction distributions

Between October and December 2021, there were 177,318 property sales. The most popular price range for:

  • England was £150,000 to £174,999 – 10,382 properties were purchased
  • Scotland was £125,000 to £149,999 – 2,990 properties were purchased
  • Wales was £125,000 to £149,999 – 1,367 properties were purchased
  • Northern Ireland was £125,000 to £149,999 – 1226 properties were purchased

The charts below show the distribution of housing transactions for Q4 (October to December) 2021 for countries of the UK. Data is presented in bands of £25,000 up to £1 million, followed by larger bands up to and over £10 million.

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 to £49,999 520
£50,000 to £74,999 2963
£75,000 to £99,999 6084
£100,000 to £124,999 8158
£125,000 to £149,999 10130
£150,000 to £174,999 10382
£175,000 to £199,999 10133
£200,000 to £224,999 8722
£225,000 to £249,999 8618
£250,000 to £274,999 7996
£275,000 to £299,999 6977
£300,000 to £324,999 5760
£325,000 to £349,999 5489
£350,000 to £374,999 4586
£375,000 to £399,999 4123
£400,000 to £424,999 3396
£425,000 to £449,999 3013
£450,000 to £474,999 2617
£475,000 to £499,999 2403
£500,000 to £524,999 1807
£525,000 to £549,999 1617
£550,000 to £574,999 1541
£575,000 to £599,999 1264
£600,000 to £624,999 1110
£625,000 to £649,999 1039
£650,000 to £674,999 990
£675,000 to £699,999 823
£700,000 to £724,999 741
£725,000 to £749,999 668
£750,000 to £774,999 630
£775,000 to £799,999 561
£800,000 to £824,999 528
£825,000 to £849,999 400
£850,000 to £874,999 462
£875,000 to £899,999 405
£900,000 to £924,999 341
£925,000 to £949,999 269
£950,000 to £974,999 310
£975,000 to £999,999 265
£1,000,000 to £1,249,999 1431
£1,250,000 to £1,499,999 947
£1,500,000 to £1,749,999 510
£1,750,000 to £1,999,999 298
£2,000,000 to £4,999,999 691
£5,000,000 to £9,999,999 79
greater than £10,000,000 30

Scotland housing transactions

Price band Housing transactions
less than £25,000 85
£25,000 to £49,999 718
£50,000 to £74,999 1976
£75,000 to £99,999 2783
£100,000 to £124,999 2734
£125,000 to £149,999 2990
£150,000 to £174,999 2698
£175,000 to £199,999 2486
£200,000 to £224,999 2098
£225,000 to £249,999 1919
£250,000 to £274,999 1581
£275,000 to £299,999 1288
£300,000 to £324,999 1042
£325,000 to £349,999 777
£350,000 to £374,999 695
£375,000 to £399,999 533
£400,000 to £424,999 415
£425,000 to £449,999 318
£450,000 to £474,999 311
£475,000 to £499,999 202
£500,000 to £524,999 187
£525,000 to £549,999 141
£550,000 to £574,999 113
£575,000 to £599,999 92
£600,000 to £624,999 103
£625,000 to £649,999 63
£650,000 to £674,999 64
£675,000 to £699,999 41
£700,000 to £724,999 46
£725,000 to £749,999 35
£750,000 to £774,999 31
£775,000 to £799,999 26
£800,000 to £824,999 27
£825,000 to £849,999 19
£850,000 to £874,999 19
£875,000 to £899,999 10
£900,000 to £924,999 16
£925,000 to £949,999 8
£950,000 to £974,999 8
£975,000 to £999,999 10
£1,000,000 to £1,249,999 53
£1,250,000 to £1,499,999 21
£1,500,000 to £1,749,999 11
£1,750,000 to £1,999,999 8
£2,000,000 to £4,999,999 12
£5,000,000 to £9,999,999 0
greater than £10,000,000 0

Wales housing transactions

Price band Housing transactions
less than £25,000 0
£25,000 to £49,999 34
£50,000 to £74,999 267
£75,000 to £99,999 755
£100,000 to £124,999 972
£125,000 to £149,999 1367
£150,000 to £174,999 1234
£175,000 to £199,999 1071
£200,000 to £224,999 724
£225,000 to £249,999 696
£250,000 to £274,999 544
£275,000 to £299,999 484
£300,000 to £324,999 331
£325,000 to £349,999 294
£350,000 to £374,999 231
£375,000 to £399,999 202
£400,000 to £424,999 147
£425,000 to £449,999 105
£450,000 to £474,999 94
£475,000 to £499,999 85
£500,000 to £524,999 49
£525,000 to £549,999 41
£550,000 to £574,999 42
£575,000 to £599,999 44
£600,000 to £624,999 23
£625,000 to £649,999 29
£650,000 to £674,999 18
£675,000 to £699,999 19
£700,000 to £724,999 25
£725,000 to £749,999 19
£750,000 to £774,999 17
£775,000 to £799,999 11
£800,000 to £824,999 15
£825,000 to £849,999 7
£850,000 to £874,999 8
£875,000 to £899,999 5
£900,000 to £924,999 5
£925,000 to £949,999 1
£950,000 to £974,999 3
£975,000 to £999,999 5
£1,000,000 to £1,249,999 13
£1,250,000 to £1,499,999 3
£1,500,000 to £1,749,999 5
£1,750,000 to £1,999,999 2
£2,000,000 to £4,999,999 1
£5,000,000 to £9,999,999 0
greater than £10,000,000 1

Northern Ireland housing transactions

Price band Housing transactions
less than £25,000 3
£25,000 to £49,999 93
£50,000 to £74,999 485
£75,000 to £99,999 963
£100,000 to £124,999 927
£125,000 to £149,999 1226
£150,000 to £174,999 958
£175,000 to £199,999 649
£200,000 to £224,999 338
£225,000 to £249,999 272
£250,000 to £274,999 172
£275,000 to £299,999 140
£300,000 to £324,999 77
£325,000 to £349,999 79
£350,000 to £374,999 58
£375,000 to £399,999 31
£400,000 to £424,999 29
£425,000 to £449,999 14
£450,000 to £474,999 11
£475,000 to £499,999 12
greater than £500,000 79

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