UK House Price Index summary: October 2021
Published 15 December 2021
© Crown copyright 2021
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-for-october-2021/uk-house-price-index-summary-october-2021
1. Headline statistics for October 2021
The average price of a property in the UK was £268,349
The annual price change for a property in the UK was 10.2%
The monthly price change for a property in the UK was -1.1%
The monthly index figure (January 2015 = 100) for the UK was 140.7
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 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
UK house prices increased by 10.2% in the year to October 2021, down from 12.3% in September 2021. On a non-seasonally adjusted basis, average house prices in the UK decreased by 1.1% between September and October 2021, compared with an increase of 0.8% during the same period a year earlier (September and October 2020).
House price growth was strongest in Wales where prices increased by 15.5% in the year to October 2021. The lowest annual growth was in London, where prices increased by 6.2% in the year to October 2021.
The Royal Institution of Chartered Surveyors’ (RICS) October 2021 UK Residential Market Survey reported buyer demand picking up slightly. The lack of available supply presents buyers with a limited choice and remains a key factor in strong house price growth.
The Bank of England’s Agents summary of business conditions 2021 Q3 reported ongoing strong demand for housing across most parts of the UK and a shortage of properties for sale, which pushed up prices.
The UK Property Transactions Statistics showed that in October 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 76,930. This is 28.3% lower than a year ago. Between September and October 2021, UK transactions decreased by 52.0% on a seasonally adjusted basis, following a large increase in the month prior.
The Bank of England’s Money and Credit October 2021 release reported that mortgage approvals for house purchases (an indicator of future lending) in October 2021 was 67,200, which is down from 71,900 in September 2021.
3. Price changes
3.1 Annual price change
Annual price change for UK by country over the past 5 years
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Average house prices in the UK increased by 10.2% in the year to October 2021, down from 12.3% in September 2021.
At the country level, the largest annual house price growth in the year to October 2021 was recorded in Wales, where house prices increased by 15.5%.
Scotland saw house prices increase by 11.3% in the year to October 2021.
England saw house prices increase by 9.8% in the year to October 2021.
Northern Ireland saw house prices increase by 10.7% over the year to Quarter 3 (July to September) 2021.
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 | £285,113 | -1.5% | 9.8% |
| Northern Ireland (Quarter 3 - 2021) | £159,109 | 3.0% | 10.7% |
| Scotland | £181,391 | 0.4% | 11.3% |
| Wales | £203,224 | 2.6% | 15.5% |
| East Midlands | £228,290 | -0.9% | 11.7% |
| East of England | £332,216 | -0.1% | 11.2% |
| London | £516,285 | 1.9% | 6.2% |
| North East | £147,719 | -4.8% | 9.7% |
| North West | £195,325 | -4.8% | 9.8% |
| South East | £366,883 | -0.7% | 10.3% |
| South West | £298,600 | -0.7% | 9.9% |
| West Midlands Region | £226,279 | -3.3% | 8.4% |
| Yorkshire and The Humber | £193,675 | -1.7% | 11.1% |
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Price changes by country and government office region
On a non-seasonally adjusted basis, average house prices in the UK decreased by 1.1% between September and October 2021, compared with an increase of 0.8% during the same period a year earlier (September and October 2020). On a seasonally adjusted basis, average house prices in the UK decreased by 1.0% between September and October 2021.
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 | October 2021 | October 2020 | Difference |
|---|---|---|---|
| Detached | £425,121 | £372,931 | 14.0% |
| Semi-detached | £256,537 | £232,383 | 10.4% |
| Terraced | £216,481 | £198,997 | 8.8% |
| Flat or maisonette | £222,381 | £208,547 | 6.6% |
| All | £268,349 | £243,576 | 10.2% |
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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
Number of sales volumes by country
| Country | August 2021 | August 2020 |
|---|---|---|
| England | 26,661 | 56,476 |
| Northern Ireland (Quarter 3 - 2021 average monthly sales) | 2,510 | 1,766 |
| Scotland | 9,743 | 6,977 |
| Wales | 1,613 | 2,525 |
Download this table’s data (CSV, 1KB)
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 44.2% in England, increased by 45.7% in Scotland and decreased by 25.9% in Wales. Northern Ireland’s volume transactions increased by 62.6% in the year to Quarter 3 2021.
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 17.8% in England, increased by 45.3% in Scotland, 53.9% in Wales and by 63.3% in Northern Ireland in the year to August 2021.
4.2 Sales volumes for the UK over the past 5 years
Sales volumes for 2017 to 2021 by country: August
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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, UK volume transactions decreased by 30.3% in the year to August 2021.
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 increased by 22.3% in the year to August 2021.
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 August 2021 | Monthly change | Annual change |
|---|---|---|---|
| New build | £348,188 | 2.2% | 18.0% |
| Existing resold property | £257,188 | 3.6% | 9.2% |
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 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 October 2021 | Monthly change | Annual change |
|---|---|---|---|
| First time buyer | £222,997 | -1.7% | 9.2% |
| Former owner occupier | £315,161 | -0.6% | 11.3% |
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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 October 2021 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £255,730 | -0.9% | 10.3% |
| Mortgage | £279,511 | -1.2% | 10.2% |
Download this table’s data (CSV, 1KB)
8. 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.
9. 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.
10. Contact
Eileen Morrison, Data Services Team Leader, HM Land Registry
Email [email protected]
Telephone 0300 006 5288
Aimee North, Head of Housing Market Indices, Office for National Statistics
Email [email protected]
Telephone 01633 456400
Ciara Cunningham, Statistician for the Northern Ireland HPI
Email [email protected]
Telephone 028 90 336035
Anne MacDonald, Land & Property Data Team, Registers of Scotland
Email [email protected]
Telephone 0131 378 4991