The average price for a home in England and Wales increased by £2,800 in October to £375,275, according to the latest house price data from e.surv.
Prices have increased in 109 of the 110 Unitary Authorities in England and Wales over the year to October.
London was the region with the lowest annual price growth at 2.2% while Bournemouth, Christchurch and Poole topped the charts with annual house price growth of 30%.
| Month | Year | House Price | Index | Monthly Change % | Annual Change % |
| October | 2021 | £344,868 | 328.3 | 1.8 | 5.7 |
| November | 2021 | £346,936 | 332.5 | 0.6 | 5.6 |
| December | 2021 | £352,738 | 338.2 | 1.7 | 5.7 |
| January | 2022 | £356,266 | 341.6 | 1.0 | 5.8 |
| February | 2022 | £361,189 | 346.4 | 1.4 | 5.3 |
| March | 2022 | £361,765 | 346.9 | 0.2 | 7.0 |
| April | 2022 | £362,624 | 347.7 | 0.2 | 8.6 |
| May | 2022 | £361,859 | 347.0 | -0.2 | 7.7 |
| June | 2022 | £362,138 | 347.3 | 0.1 | 9.1 |
| July | 2022 | £364,452 | 349.5 | 0.6 | 9.5 |
| August | 2022 | £368,680 | 353.5 | 1.2 | 12.3 |
| September | 2022 | £372,443 | 357.1 | 1.0 | 10.0 |
| October | 2022 | £375,275 | 359.9 | 0.8 | 8.8 |
Richard Sexton, director at e.surv, said: “Given the pressure on the UK housing market seen in recent weeks, it is testimony to the robust nature of this market that prices continued to climb in October – albeit the rate of increase is notably slower than in August and September.
“Our index takes a considered look at all the transactions, both cash and mortgaged. When we do this, the average price paid for a home in England and Wales in October 2022 rose – by some £2,800 to £375,275 – from the average price paid in September.
“If we step back and look at the performance of house prices since the start of the pandemic in March 2020, the average price paid for a home has increased by some £60,000 (circa 19%) which contrasts with the increase in consumer price inflation (including housing – CPIH) of nearly 13% over the same period. Property prices have therefore risen in real terms.
“We need to reflect on the fact that inflation and rising interest rates will impact the affordability of mortgage finance for many people, potentially affecting people’s ability to move home. Certainly, the rate of growth has slowed as the numbers in the report show.
“However, we have almost full employment which is what really affects lenders’ appetite to lend. And now that financial markets have calmed, many lenders are back in the market with new mortgage products.
“The Budget on the 16th of November may also impact buyer sentiment so while this trend of slowing growth appears well set, things, as we have seen, can change quickly.”
