Accredited official statistics

UK House Price Index Wales: November 2022

Published 18 January 2023

1. Headline statistics for November 2022

The average price of a property in Wales was £220,366

The annual price change of a property for Wales was 10.7%

The monthly price change of a property for Wales was -1.6%

The index figure for Wales (January 2015 = 100) was 161.9

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 December 2022 UK HPI will be published at 9.30am on Wednesday 15 February 2023. See the calendar of release dates for more information.

2. Economic statement

Average house prices in Wales increased by 10.7% in the year to November 2022, down from 11.9% in the year to October 2022. In the year to November 2022, average house prices in Wales were increasing faster than average house prices in the UK (10.3%).

On a non-seasonally adjusted basis, average house prices in Wales decreased by 1.6% between October and November 2022, compared with a decrease of 0.6% during the same period a year earlier (October 2021 and November 2021). On a seasonally adjusted basis, average house prices in Wales decreased by 0.5% between October 2022 and November 2022.

Comparing the provisional volume estimate for September 2021 with the provisional estimate for September 2022, the volume of transactions increased by 84.6% in Wales and by 26.6% in the UK.

In Wales, all local authority areas showed an increase in average house prices in the year to November 2022. Caerphilly showed the highest annual percentage change, rising by 17.2% to £194,000 in the year to November 2022. In contrast, Conwy showed the lowest annual percentage change, increasing by 6.4% to £217,000 in the year to November 2022.

In Wales, terraced houses showed the largest annual growth out of all property types, rising by 13.0% in the year to November 2022 to £173,000. Flats and maisonettes showed the lowest annual growth, rising by 6.1% in the year to November 2022, to an average price of £136,000.

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 10.7% in the year to November 2022, down from 11.9% in October 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 November 2022 November 2021 Difference
Blaenau Gwent £134,570 £117,646 14.4%
Bridgend £217,113 £192,863 12.6%
Caerphilly £194,483 £165,881 17.2%
Cardiff £268,756 £240,007 12.0%
Carmarthenshire £215,261 £190,827 12.8%
Ceredigion £274,088 £237,853 15.2%
Conwy £217,350 £204,233 6.4%
Denbighshire £209,010 £187,734 11.3%
Flintshire £220,059 £197,742 11.3%
Gwynedd £221,402 £192,775 14.8%
Isle of Anglesey £248,010 £226,065 9.7%
Merthyr Tydfil £155,725 £133,724 16.5%
Monmouthshire £364,497 £319,402 14.1%
Neath Port Talbot £171,658 £148,426 15.7%
Newport £239,476 £218,162 9.8%
Pembrokeshire £245,876 £224,251 9.6%
Powys £262,634 £232,090 13.2%
Rhondda Cynon Taf £161,126 £141,501 13.9%
Swansea £202,940 £184,149 10.2%
Torfaen £205,364 £185,595 10.7%
Vale of Glamorgan £310,033 £283,524 9.3%
Wrexham £208,481 £191,320 9.0%
Wales £220,366 £199,006 10.7%

Average price by local authority for Wales

In November 2022, the most expensive area to purchase a property was Monmouthshire, where the average cost was £360,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where the average cost was £135,000.

3.2 Average price change by property type

Average price change by property type for Wales

Property type November 2022 November 2021 Difference
Detached £336,710 £307,705 9.4%
Semi-detached £214,007 £193,404 10.7%
Terraced £172,992 £153,113 13.0%
Flat or maisonette £136,269 £128,422 6.1%
All £220,366 £199,006 10.7%

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

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

Local authorities September 2022 September 2021
Blaenau Gwent 72 89
Bridgend 151 198
Caerphilly 171 211
Cardiff 332 427
Carmarthenshire 173 234
Ceredigion 69 82
Conwy 144 211
Denbighshire 100 170
Flintshire 144 277
Gwynedd 106 137
Isle of Anglesey 63 112
Merthyr Tydfil 59 83
Monmouthshire 82 146
Neath Port Talbot 145 177
Newport 147 208
Pembrokeshire 120 173
Powys 116 193
Rhondda Cynon Taf 215 336
Swansea 216 293
Torfaen 84 117
Vale of Glamorgan 118 229
Wrexham 108 178
Wales 2,935 4,281

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 September2022 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional volume estimate for September 2021 with the provisional estimate for September 2022, volume transactions increased by 84.6% 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 12.3% in Wales in the year to September 2022.

4.2 Sales volumes

Sales volumes for Wales over the past 5 years

Date Sales volumes for Wales
September 2018 3,959
September 2019 3,923
September 2020 2,859
September 2021 4,281
September 2022 2,935

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 September 2022 Monthly change Annual change
New build £325,064 6.3% 23.6%
Existing resold property £219,352 2.2% 12.9%

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 November 2022 Monthly change Annual change
First time buyer £189,969 -1.5% 11.2%
Former owner occupier £256,108 -1.7% 10.2%

7. Funding status

Cash and mortgage indicator for Wales

Funding status Average price November 2022 Monthly change Annual change
Cash £212,605 -1.9% 9.8%
Mortgage £224,829 -1.5% 11.1%

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 September 2022
Wales 10

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