UK House Prices rose by more than 12.4% over the last year 

House prices across the UK increased by an average of 12.4% in the year to April 2022, according to the latest figures from the Land Registry.


It means the average property in the UK is now valued at £281,161.


On a non-seasonally adjusted basis, house prices increased by 1.1% between March and April 2022.


The UK Property Transactions Statistics showed that in April 2022, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 106,780.


This is 12.1% lower than a year ago (April 2021).


In England, on average, house prices have risen by 0.8% since March 2022. The annual price rise of 11.9% takes the average property value to £299,249.


House price growth was strongest in the Southwest, where prices increased by 14.1% in the year to April 2022. The lowest annual growth was in London, where prices increased by 7.9%.


The Northwest experienced the greatest monthly growth with an increase of 2%, while the East Midlands saw the most significant monthly price fall with a movement of -0.5%.


The UK House Price Index (HPI) is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion.


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