Accredited official statistics

UK House Price Index Wales: October 2024

Published 18 December 2024

1. Headline statistics for October 2024

The average price of a property in Wales was £222,000

The annual price change of a property for Wales was 4.0%

The monthly price change of a property for Wales was 2.0%

The index figure for Wales (January 2015 = 100) was 163.3

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 2024 UK HPI will be published at 9.30am on Wednesday 15 January 2025. See the calendar of release dates for more information.

2. Economic statement

Average house prices in Wales increased by 4.0% in the 12 months to October 2024, to £222,000 (provisional estimate). This was up from 0.9% (revised estimate) in the 12 months to September 2024 and was higher than the average UK house price annual inflation of 3.4% (provisional estimate) in the 12 months to October 2024.

On a non-seasonally adjusted basis, average house prices in Wales increased by 2.0% between September 2024 and October 2024, compared with a decrease of 1.0% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Wales increased by 2.1% between September 2024 and October 2024.

Comparing the provisional UK HPI volume estimate for August 2023 with the provisional UK HPI estimate for August 2024, the volume of transactions decreased by 5.0% in Wales and decreased by 3.6% in the UK.

In Wales, 16 of the 22 local authority areas showed an increase in average house prices in the 12 months to October 2024. Bridgend showed the highest annual percentage change, rising by 10.8% to £227,000 in the 12 months to October 2024. In contrast, Gwynedd showed the lowest annual percentage change, decreasing by 5.1% to £202,000 in the 12 months to October 2024.

In Wales, flats and maisonettes had the highest annual inflation out of all property types, increasing by 6.2% in the 12 months to October 2024, to an average price of £149,000. Detached houses had the lowest annual inflation, increasing by 2.5% in the 12 months to October 2024, to an average price of £328,000.

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, the average price increased by 4.0% in the 12 months to October 2024 (provisional estimate), up from 0.9% in the 12 months to September 2024 (revised estimate).

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 2024 October 2023 Difference
Blaenau Gwent £139,435 £126,120 10.6%
Bridgend £227,362 £205,205 10.8%
Caerphilly £196,976 £189,022 4.2%
Cardiff £281,107 £264,851 6.1%
Carmarthenshire £206,669 £202,558 2.0%
Ceredigion £251,559 £255,780 -1.7%
Conwy £222,009 £221,553 0.2%
Denbighshire £207,137 £197,506 4.9%
Flintshire £212,055 £217,933 -2.7%
Gwynedd £201,861 £212,604 -5.1%
Isle of Anglesey £238,389 £245,782 -3.0%
Merthyr Tydfil £155,236 £150,106 3.4%
Monmouthshire £341,156 £341,987 -0.2%
Neath Port Talbot £165,513 £167,301 -1.1%
Newport £237,213 £231,283 2.6%
Pembrokeshire £240,211 £237,818 1.0%
Powys £250,612 £245,891 1.9%
Rhondda Cynon Taf £162,669 £156,966 3.6%
Swansea £206,269 £200,245 3.0%
Torfaen £191,429 £186,491 2.6%
Vale of Glamorgan £300,519 £287,981 4.4%
Wrexham £208,604 £204,822 1.8%
Wales £222,316 £213,842 4.0%

Average price by local authority for Wales

In October 2024, the most expensive area to purchase a property was Monmouthshire, where the average cost was £341,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where the average cost was £139,000.

3.2 Average price change by property type

Average price change by property type for Wales

Property type October 2024 October 2023 Difference
Detached £327,991 £319,932 2.5%
Semi-detached £216,109 £208,537 3.6%
Terraced £176,306 £168,331 4.7%
Flat or maisonette £148,698 £140,045 6.2%
All £222,316 £213,842 4.0%

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 August 2024 August 2023
Blaenau Gwent 48 59
Bridgend 132 162
Caerphilly 128 171
Cardiff 275 324
Carmarthenshire 148 193
Ceredigion 47 79
Conwy 117 149
Denbighshire 77 109
Flintshire 124 149
Gwynedd 109 123
Isle of Anglesey 44 71
Merthyr Tydfil 40 53
Monmouthshire 73 84
Neath Port Talbot 115 145
Newport 114 170
Pembrokeshire 102 127
Powys 103 142
Rhondda Cynon Taf 153 225
Swansea 183 255
Torfaen 47 94
Vale of Glamorgan 117 133
Wrexham 103 118
Wales 2,399 3,135

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 August 2024 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional UK HPI volume estimate for August 2023 with the provisional UK HPI volume estimate for August 2024, volume transactions decreased by 5.0% in Wales.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that in the 12 months to August 2024, on a non-seasonally adjusted basis, HMRC volume transactions increased by 11.7% in Wales.

4.2 Sales volumes

Sales volumes for Wales over the past 5 years

Date Sales volumes for Wales
August 2020 2,525
August 2021 4,304
August 2022 4,237
August 2023 3,135
August 2024 2,399

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 2024 Monthly change Annual change
New build £360,637 7.8% 31.1%
Existing resold property £216,696 1.3% 2.0%

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 2024 Monthly change Annual change
First time buyer £193,455 2.2% 4.5%
Former owner occupier £255,444 1.8% 3.3%

7. Funding status

Cash and mortgage indicator for Wales

Funding status Average price October 2024 Monthly change Annual change
Cash £215,608 2.1% 3.9%
Mortgage £226,298 2.0% 4.0%

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 2024
Wales 2

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