Source: Hometrack UK

Last Update: October 2022

Executive Summary of UK House Price Index Report - Oct 2022

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• The latest price index shows average house prices increasing by 8.1% over the last year

• The strength of demand and sales agreed over the last 6 months continue to push prices higher in the face of an ongoing shortage of homes for sale

• Half of all sales are paid for by cash or using a mortgage that is small relative to the value of the property (<50%)

1. The annual rate of growth is starting to slow across all areas, and this will accelerate further into Q1 2023.

2. 48% of buyers are using cash or small mortgages to buy homes, these buyers will see less of a hit to buying power than those using larger loans.

House Price Index – Country, region and city summary

• Homes in Nottingham have registered the highest rate of growth of any of the UK’s larger cities at 10.9%, followed by Manchester at 9.3%, Birmingham at 9.2% and Leeds at 9.1%.

• The annual growth rate of average UK houses is 8.1%

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