UK House Price Index Wales: August 2022
Published 19 October 2022
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-for-august-2022/uk-house-price-index-wales-august-2022
1. Headline statistics for August 2022
The average price of a property in Wales was £220,059
The annual price change of a property for Wales was 14.6%
The monthly price change of a property for Wales was 0.2%
The index figure for Wales (January 2015 = 100) was 161.6
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 September 2022 UK HPI will be published at 9.30am on Wednesday 16 November 2022. See the calendar of release dates for more information.
2. Economic statement
Wales house prices increased by 14.6% in the year to August 2022, down from 17.4% in July 2022. Wales house prices were growing faster than the UK annual rate of 13.6% in the year to August 2022. On a non-seasonally adjusted basis average house prices in Wales increased by 0.2% between July and August 2022, compared with an increase of 2.7% during the same period a year earlier (July 2021 and August 2021). On a seasonally adjusted basis, average house prices in Wales decreased by 1.2% between July 2022 and August 2022.
Comparing the provisional volume estimate for June 2021 with the provisional estimate for June 2022, the volume of transactions increased by 12.3% in Wales. UK volume transactions decreased by 4.2% over the same period.
In Wales, all local authority areas showed an increase in average house prices in the year to August 2022. Merthyr Tydfil showed the strongest growth, rising by 22.7% to £157,000 in the year to August 2022. In contrast, Gwynedd showed the lowest annual change, with an increase of 9.9% in the year to August 2022, with the average house price at £208,000.
Of all property types, detached houses showed the largest annual growth, rising by 15.7% in the year to August 2022 to £340,000. Flats and maisonettes showed the lowest annual growth, rising by 10.7% in the year to August 2022, to an average price of £138,000.
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
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In Wales, average prices increased by 14.6% in the year to August 2022, down from 17.4% in July 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 | August 2022 | August 2021 | Difference |
|---|---|---|---|
| Blaenau Gwent | £133,698 | £112,666 | 18.7% |
| Bridgend | £207,593 | £183,057 | 13.4% |
| Caerphilly | £190,045 | £164,571 | 15.5% |
| Cardiff | £260,478 | £236,807 | 10.0% |
| Carmarthenshire | £209,039 | £182,752 | 14.4% |
| Ceredigion | £266,800 | £219,563 | 21.5% |
| Conwy | £224,274 | £196,471 | 14.2% |
| Denbighshire | £207,503 | £178,753 | 16.1% |
| Flintshire | £211,436 | £191,148 | 10.6% |
| Gwynedd | £207,920 | £189,205 | 9.9% |
| Isle of Anglesey | £240,742 | £215,147 | 11.9% |
| Merthyr Tydfil | £156,565 | £127,609 | 22.7% |
| Monmouthshire | £356,727 | £309,535 | 15.2% |
| Neath Port Talbot | £166,454 | £142,143 | 17.1% |
| Newport | £232,275 | £209,595 | 10.8% |
| Pembrokeshire | £246,694 | £212,442 | 16.1% |
| Powys | £247,075 | £221,403 | 11.6% |
| Rhondda Cynon Taf | £158,915 | £140,340 | 13.2% |
| Swansea | £196,492 | £175,137 | 12.2% |
| Torfaen | £202,905 | £175,217 | 15.8% |
| Vale of Glamorgan | £311,787 | £266,223 | 17.1% |
| Wrexham | £207,497 | £183,426 | 13.1% |
| Wales | £220,059 | £192,019 | 14.6% |
Download this table’s data (CSV, 1KB)
Average price by local authority for Wales
In August 2022, the most expensive area to purchase a property was Monmouthshire, where the average cost was £357,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where the average cost was £134,000.
3.2 Average price change by property type
Average price change by property type for Wales
| Property type | August 2022 | August 2021 | Difference |
|---|---|---|---|
| Detached | £339,517 | £293,535 | 15.7% |
| Semi-detached | £212,933 | £186,319 | 14.3% |
| Terraced | £171,347 | £149,275 | 14.8% |
| Flat or maisonette | £137,934 | £124,553 | 10.7% |
| All | £220,059 | £192,019 | 14.6% |
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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 | June 2022 | June 2021 |
|---|---|---|
| Blaenau Gwent | 45 | 126 |
| Bridgend | 111 | 323 |
| Caerphilly | 128 | 338 |
| Cardiff | 220 | 727 |
| Carmarthenshire | 108 | 370 |
| Ceredigion | 44 | 130 |
| Conwy | 95 | 272 |
| Denbighshire | 77 | 181 |
| Flintshire | 111 | 347 |
| Gwynedd | 87 | 208 |
| Isle of Anglesey | 46 | 130 |
| Merthyr Tydfil | 45 | 97 |
| Monmouthshire | 84 | 269 |
| Neath Port Talbot | 113 | 268 |
| Newport | 111 | 307 |
| Pembrokeshire | 87 | 261 |
| Powys | 90 | 301 |
| Rhondda Cynon Taf | 184 | 492 |
| Swansea | 162 | 437 |
| Torfaen | 79 | 153 |
| Vale of Glamorgan | 111 | 394 |
| Wrexham | 73 | 240 |
| Wales | 2,211 | 6,371 |
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 June 2022 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.
Comparing the provisional volume estimate for June 2021 with the provisional estimate for June 2022, volume transactions increased by 12.3% 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 47.2% in Wales in the year to June 2022.
Download this table’s data (CSV, 1KB)
4.2 Sales volumes
Sales volumes for Wales over the past 5 years
| Date | Sales volumes for Wales |
|---|---|
| June 2018 | 4,344 |
| June 2019 | 3,997 |
| June 2020 | 2,013 |
| June 2021 | 6,371 |
| June 2022 | 2,211 |
Download this chart’s data (CSV, 1KB)
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 June 2022 | Monthly change | Annual change |
|---|---|---|---|
| New build | £318,924 | 2.9% | 26.2% |
| Existing resold property | £208,577 | 1.3% | 8.1% |
Download this table’s data (CSV, 1KB)
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 August 2022 | Monthly change | Annual change |
|---|---|---|---|
| First time buyer | £189,230 | 0.0% | 14.5% |
| Former owner occupier | £256,397 | 0.5% | 14.7% |
Download this table’s data (CSV, 1KB)
7. Funding status
Cash and mortgage indicator for Wales
| Funding status | Average price August 2022 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £213,344 | 0.7% | 14.4% |
| Mortgage | £224,008 | 0.0% | 14.7% |
Download this table’s data (CSV, 1KB)
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 June 2022 |
|---|---|
| Wales | 5 |
Download the data for England and Wales (CSV, 7KB)
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 [email protected]
Telephone 0300 006 5288