Accredited official statistics

UK House Price Index Wales: October 2021

Published 15 December 2021

1. Headline statistics for October 2021

The average price of a property in Wales was £203,224

The annual price change of a property for Wales was 15.5%

The monthly price change of a property for Wales was 2.6%

The index figure for Wales (January 2015 = 100) was 149.3

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 November 2021 UK HPI will be published at 9.30am on Wednesday 19 January 2022. See the calendar of release dates for more information.

2. Economic statement

Wales house prices increased by 15.5% in the year to October 2021, down from 16.5% in September 2021. Wales house prices were growing faster than the UK annual rate of 10.2% in the year to October 2021. On a non-seasonally adjusted basis average house prices in Wales increased by 2.6% between September and October 2021, compared with an increase of 3.5% during the same period a year earlier (September and October 2020). On a seasonally adjusted basis, average house prices in Wales increased by 2.1% between September and October 2021.

Comparing the provisional volume estimate for August 2020 with the provisional estimate for August 2021, volume transactions decreased by 25.9% in Wales, from 2178 to 1613. UK volume transactions decreased by 30.3%, from 58168 to 40528, over the same period.

In Wales, all local authority areas showed an increase in average house prices in October 2021 when compared with October 2020. Merthyr Tydfil showed the strongest growth, rising by 24.8% to £138,000 in the year to October 2021. In contrast, Powys showed the lowest annual change, with an increase of 8.2% in the year to October 2021, with the average house price at £216,000.

Of all property types, detached houses showed the biggest annual growth, rising by 17.5% in the year to October 2021 to £314,000. The lowest annual change of all property types was for flats and maisonettes, with an increase of 11.1% in the year to October 2021 to £132,000.

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 15.5% in the year to October 2021, down from 16.5% in September 2021.

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 October 2021 October 2020 Difference
Blaenau Gwent £121,739 £98,816 23.2%
Bridgend £186,552 £168,625 10.6%
Caerphilly £170,465 £149,339 14.1%
Cardiff £242,982 £217,226 11.9%
Carmarthenshire £189,224 £161,081 17.5%
Ceredigion £232,812 £195,716 19.0%
Conwy £215,009 £182,553 17.8%
Denbighshire £189,093 £161,848 16.8%
Flintshire £195,085 £176,797 10.3%
Gwynedd £190,821 £170,020 12.2%
Isle of Anglesey £217,199 £191,674 13.3%
Merthyr Tydfil £138,102 £110,641 24.8%
Monmouthshire £324,841 £286,379 13.4%
Neath Port Talbot £148,880 £128,275 16.1%
Newport £212,365 £192,374 10.4%
Pembrokeshire £214,929 £189,485 13.4%
Powys £215,527 £199,215 8.2%
Rhondda Cynon Taf £144,712 £123,134 17.5%
Swansea £177,393 £157,053 13.0%
Torfaen £182,970 £156,377 17.0%
Vale of Glamorgan £285,325 £237,741 20.0%
Wrexham £187,656 £162,057 15.8%
Wales £203,224 £175,948 15.5%

Average price by local authority for Wales

In October 2021, the most expensive area to purchase a property was Monmouthshire, where the average cost was £325,000. 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 October 2021 October 2020 Difference
Detached £313,765 £267,098 17.5%
Semi-detached £196,266 £170,351 15.2%
Terraced £157,305 £136,805 15.0%
Flat or maisonette £131,682 £118,512 11.1%
All £203,224 £175,948 15.5%

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 August 2021 August 2020
Blaenau Gwent 44 49
Bridgend 80 124
Caerphilly 86 121
Cardiff 133 264
Carmarthenshire 104 148
Ceredigion 39 54
Conwy 79 110
Denbighshire 44 100
Flintshire 91 159
Gwynedd 73 111
Isle of Anglesey 54 67
Merthyr Tydfil 15 42
Monmouthshire 43 79
Neath Port Talbot 71 118
Newport 62 108
Pembrokeshire 82 116
Powys 73 106
Rhondda Cynon Taf 153 187
Swansea 127 158
Torfaen 31 63
Vale of Glamorgan 81 132
Wrexham 48 109
Wales 1,613 2,525

Note: The number of property transactions for August 2021 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional volume estimate for August 2020 with the provisional estimate for August 2021, volume transactions decreased by 25.9% 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 increased by 53.9% in Wales in the year to August 2021.

4.2 Sales volumes

Sales volumes for Wales over the past 5 years

Date Sales volumes for Wales
August 2017 4,572
August 2018 4,811
August 2019 4,546
August 2020 2,525
August 2021 1,613

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 August 2021 Monthly change Annual change
New build £274,062 2.8% 20.2%
Existing resold property £187,859 4.1% 10.6%

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 October 2021 Monthly change Annual change
First time buyer £174,302 2.2% 14.9%
Former owner occupier £237,414 3.1% 16.2%

7. Funding status

Cash and mortgage indicator for Wales

Funding status Average price October 2021 Monthly change Annual change
Cash £197,206 2.5% 15.2%
Mortgage £206,785 2.7% 15.6%

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 August 2021
Wales 3

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