Today’s Office of National Statistics latest figures are in for August 2022. This gives a real insight into what the property market looks like in the UK. We have summarised the key statistics for an easy overview of the UK property market (below).
UK average house prices increased by 13.6% over the year to August 2022, down from 16.0% in July 2022.
Despite UK house prices increasing between July and August 2022, annual growth has slowed because of the sharp rise in house prices in August 2021 following changes in the stamp duty holiday.
The average UK house price was £296,000 in August 2022, which is £36,000 higher than this time last year.