UK house prices increased by 10.9% in the year to February 2022, up from 10.2% in January 2022. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.5% between January and February 2022, up from a decrease of 0.04% during the same period a year earlier (January and February 2021).

The UK Property Transactions Statistics showed that in February 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 112,240. This is 20.8% lower than a year ago (February 2021). Between January and February 2022, UK transactions increased by 4.4% on a seasonally adjusted basis.

House price growth was strongest in Wales where prices increased by 14.2% in the year to February 2022. The lowest annual growth was in London, where prices increased by 8.1% in the year to February 2022.

England

In England the February data shows, on average, house prices have risen by 0.9% since January 2022. The annual price rise of 10.7% takes the average property value to £295,888.

The regional data for England indicates that:

• the East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 12.5%
• the East Midlands saw the most significant monthly price fall with a movement of -0.4%
• London experienced the greatest monthly growth with an increase of 2.2%
• London saw the lowest annual price growth with an increase of 8.1%

Price change by region for England

Average price by property type for England

Funding and buyer status for England

Building status for England

London

London shows, on average, house prices have risen by 2.2% since January 2022. An annual price rise of 8.1% takes the average property value to £529,882.

Average price by property type for London

Funding and buyer status for England

Building status for England