Land registry data (UK HPI) | July Av. price | Monthly change | 12-month |
England | £311,583 | +2.2% | +16.4% |
London | £543,517 | +1.1% | +9.2% |
City of Westminster | £958,990 | +1.2% | 4.7% |
Kensington and Chelsea | £1,350,969 | -0.9% | +1.3% |
- England house prices grew by 16.4% in the year to July 2022, up from 7.3% in June 2022.
- England house prices were growing faster than the UK annual rate of 15.5% in the year to July 2022.
- The South West was the fastest growing region with annual growth of 20.7% in the year to July 2022.
- The lowest annual growth was in London, where prices increased by 9.2% over the year to July 2022.
- Across England, detached houses showed the largest increase out of all property types, growing by 18.3% in the year to July 2022 to £488,000.
- The lowest annual change was in flats and maisonettes which increased by 9.6% in the year to July 2022 to £254,000.
- In July 2022, the most expensive area to purchase a property was Kensington and Chelsea, where the average cost was £1.4 million.
- In contrast, the cheapest area to purchase a property was Burnley, where the average cost was £120,000.