Today’s Office of National Statistics latest figures are in for July 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 15.5% over the year to July 2022, up from 7.8% in June 2022.
This is the highest annual inflation rate the UK has seen since May 2003.
The average UK house price was £292,000 in July 2022, which is £39,000 higher than this time last year.