Existing dwellings in London were generally more expensive than newly built ones. In 2024, the average price of existing homes was 633,000 British pounds, while new dwellings cost on average 408,000 British pounds.

The average house prices for detached and semi-detached dwellings in London declined in 2024 after several years of strong growth. In 2024, the simple average price of a detached house amounted to 1.15 million British pounds, which was a decline from the previous year when the average price was 1.14 million British pounds. Semi-detached houses were notably less expensive, with the average price totaling 757,000 British pounds in 2024.

The average price of houses bought by first-time buyers was notably lower than houses purchased by repeat buyers in London in 2024. Homebuyers spent on average 480,000 British pounds when purchasing their first property in 2024. For repeat buyers, this figure amounted to 850,000 British pounds in that year. In London, the average house price was about 630,000 British pounds in 2024.

This statistic illustrates the annual indices of the nominal value of property transactions on the housing market in London, England from 2000 to 2020. The index was set at 100 as of 2007. The nominal value index oscillated throughout the years, reaching the lowest value of 46.73 in 2009 and the highest value of 105.35 in 2014. The nominal total value of property transactions in London has fallen annually between 2014 and 2020.

Housing Index in the United Kingdom increased to 514.30 points in July from 512.40 points in June of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Abstract copyright UK Data Service and data collection copyright owner. The objectives of the study were: to establish whether self-funded people who are admitted to residential care differ significantly in terms of financial assets and informal support from elderly people in private households; to establish the extent to which self-financed residents are admitted at levels of dependency that might have been maintained in the community; to investigate the process of admission and whether those people with lower levels of dependency are admitted through choice or lack of access to appropriate alternatives; to investigate factors associated with the choice of home; identify the level of receipt of non-means tested benefits; and to estimate expected length of stay of self-funded residents. Main Topics: The dataset contains data from a survey of care home managers, and from a survey of relatives or other contacts of residents of care homes, where these were available. The home managers provided information about the home on the Home Manager Questionnaire and about recently-admitted residents on the Resident Questionnaire. The relatives/other contacts provided information about the same residents on the Family/Friend Questionnaire. The dataset consists of two SPSS data files, relating to the Home Manager Questionnaire and to the Resident and Family/Friend questionnaires. Each data file contains a complete set of variables from the respective questionnaires, with the exception of variables identifying the address of individual residents, together with derived variables. In particular, where no relative or other contact could be identified, home managers were asked, where possible, to supply additional information on the resident’s financial circumstances, corresponding to the information on the Family/Friend Questionnaire. Composite derived variables were computed using the data from the Family/Friend Questionnaire, where available, or from the data supplied by the home managers. Standard measures of resident dependency were computed from the resident-level data: the Barthel Index of Activities of Daily Living (Royal College of Physicians and British Geriatrics Society, Standardised Assessment Scales for Elderly People, Royal College of Physicians of London, London, 1992); and the Minimum Data Set Cognitive Performance Scale (Morris, J.N., Fries, B.E., Mehr, D.R., Hawes, C., Phillips, C., Mor, V. and Lipsitz, L.A., MDS Cognitive Performance Scale, Journal of Gerontology: Medical Sciences, 1994, 49(4), M174-M182). The measure of social care outcome for older people (SCOOP) developed by Netten and her colleagues was computed from the Family/Friend Questionnaire data (Netten, A., Ryan, M., Smith, P., Skatun, D., Healey, A., Knapp, M. and Wykes, T., The Development of a Measure of Social Care Outcome for Older People, PSSRU Discussion Paper No. 1690/2, Personal Social Services Research Unit, 2002). (Note that the final version of the measure is the Older People's Utility Scale for Social Care (OPUS).) Wenger's Support Network Typology (Wenger, G.C., Help in Old Age – Facing up to Change: A Longitudinal Network Study, Institute of Human Ageing, Liverpool University Press, Liverpool, 1992) was used to classify the informal care network of residents using Wenger and Scott's Support Network Type Algorithm version 1.2 ((c) G. Clare Wenger and Anne Scott 1994, 1996, Centre for Social Policy Research and Development, University of Wales, Bangor, Gwynedd, UK, LL57 2DG). Multi-stage stratified random sample Systematic selection of local authority groups listed geographically; systematic selection of homes within selected local authorities; residents within scope (self-funded) who were admitted between January 1999 and March 2000. Face-to-face interview Telephone interview

The simple average house price for bungalow dwellings in London, United Kingdom (UK), generally increased with slight fluctuation from 2000 to 2024. In 2024, the average price for a bungalow in London was 626,000 British pounds. Nationally, flats in converted houses and terraced housing are the most affordable housing types for homebuyers.

Starts and completions of new build dwellings in the UK, on a quarterly and annual basis, time series data

The simple average price for newly built dwellings in London increased in 2024 but remained notably lower than in the period between 2015 and 2022. In that year, the average price for all housing types, including flats, detached, semi-detached, terraced, and bungalows, amounted to 408,000 British pounds. The highest price was observed in 2015 at 484,000 British pounds.

Net additional dwellings by local authority district, England 2004-05 to 2010-11

All figures have been rounded to the nearest 10. If the submitted figure was less than 5, it has been recorded in this dataset as 0. If no data was submitted, the observation is marked as 'missing'. In cases where changes in geography mean that a combination of year and local authority district is not applicable, the observation has been omitted from the dataset.

Net additions measure the absolute increase in stock between one year and the next, including other losses and gains (such as conversions, changes of use and demolitions).

Sources Housing Flows Reconciliation (HFR), the Greater London Authority and Regional Assembly joint returns. From 2000-01 to 2003-04, all local authorities submitted data to CLG through the Housing Flows Reconcilation (HFR) form. Following the abolition of the Regional Planning Bodies in 2010, Local authorities in all regions except London have returned to submitting data via the HFR from 2009-10.

Data for London are supplied by the GLA.

Between 2004-05 and 2008-09 CLG worked jointly with Regional Planning bodies in the south and midlands on joint data returns in an attempt to ensure consistency between the net housing supply figures reported in regional Annual Monitoring Reports (AMRs) and those published by central government.

New Geographies
On 1st April 2009 nine new unitary authorities (UAs) were formed from the combination of 37 former district councils.
Figures are no longer collected on the previous geographic basis.
Cheshire West UA from Chester, Ellesmere Port & Neston and Vale Royal; .
Cheshire East UA was formed from Congleton, Crewe & Nantwich and Macclesfield;
Bedford UA from Bedford; and Central Bedfordshire UA from Mid Bedfordshire and South Bedfordshire
The remaining five new UAs were each formed from all former districts of the county concerned.

Latest update 02/11/2011 Next update Oct-2012

This spreadsheet contains:

• the total number of net additional dwellings from all sources,
• Total number of dwellings, and
• Average dwelling size (persons per dwelling)

Net additional dwellings includes conversions, change of use, and other reasons, minus demolitions and all dwellings estimates. The net additional data is by borough since 2004/05 and total dwellings estimate is since 2001. More information can be found on the CLG website. Data is from Tables 122 and 125.

A figure of persons per dwelling has also been included using population estimates.

This release takes annual figures on net housing supply in England from two data sources:

• 1) information submitted to Communities and Local Government (CLG) by local authorities in all regions except London through the Housing Flows Reconciliation (HFR) form; and
• 2) information collected by the Greater London Authority (GLA) for London Boroughs.

From 2000-01 to 2003-04, all local authorities submitted data to Communities and Local Government through the HFR form. Between 2004-05 and 2008-09, Communities and Local Government worked jointly with Regional Planning Bodies in some regions on joint returns to ensure consistency between the net housing supply figures reported at various geographical levels.

In 2010 the abolition of Regional Planning Bodies prompted a return to submission through the HFR for all local authorities outside London. Because of the unique status of the GLA, London Boroughs continue to supply their data through the GLA. Users should note that the London figures are provisional at this stage and may be subject to change before they are reported in the GLA’s Annual Monitoring Report in February 2011. Local authorities have until early September, five months after the end of the financial year, to complete the HFR form.

This change to the data collection process has enabled Communities and Local Government (DCLG) to publish the net supply of housing statistical release for 2009-10 four months earlier than in previous years.

DCLG also publish house building statistics by local authority (Table 253), but the GLA prefer to use Net Additional Dwellings because they are more complete in terms of borough coverage, and comprehensive, as they cover more than just new build.

Dwellings estimate is at 31 March
Figures from 2001 and 2011 are census figures. All figures from 2002 to 2011 have been revised following the release of the dwelling count from the 2011 census.
Data from 2003, 2003 and 2004 contains a number of imputed and adjusted values and should not be considered as robust as subsequent years.

Average dwelling size (persons per dwelling) using population estimate (ONS) divided by number of dwellings.

Population data is from ONS mid year estimates and projections.

External links:

https://www.gov.uk/government/statistical-data-sets/live-tables-on-net-supply-of-housing

https://www.gov.uk/government/statistical-data-sets/live-tables-on-dwelling-stock-including-vacants

This dataset shows net additional dwellings by local authority district, England 2004-05 to 2014-15. All figures have been rounded to the nearest 10. 0 represents 0-4, the dwelling counts from the 2011 Census have been used to revise the net supply estimates from 2004-05 to 2010-11. The 2011/12 to 2014/15 figures are provisional and subject to scheduled revisions pending the release of future census dwelling stock data.

Net additions measures the absolute change in dwelling stock between 1 April and 31 March of the following year. The absolute change in the dwelling stock is the number of new house building completions plus any gains or losses through conversions, demolitions and changes of use (also referred to as Net supply of housing).

Sources

Housing Flows Reconciliation (HFR), the Greater London Authority and Regional Assembly joint returns. From 2000-01 to 2003-04, all local authorities submitted data to CLG through the Housing Flows Reconciliation (HFR) form. Following the abolition of the Regional Planning Bodies in 2010, local authorities in all regions except London have returned to submitting data via the HFR from 2009-10.
Data for London are supplied by the GLA. Between 2004-05 and 2008-09 CLG worked jointly with Regional Planning bodies in the south and midlands on joint data returns in an attempt to ensure consistency between the net housing supply figures reported in regional Annual Monitoring Reports (AMRs) and those published by central government.

This data was derived from Table 122, available for download as an Excel spreadsheet. For fuller information please see the 'Net supply of housing in England,: 2014 to 2015' statistical release available here.

The capital city of England, London has a population of approximately ************ residents and by 2041, the population of London is estimated to exceed ** million individuals. To house them, the sprawling city has a stock of approximately *** million dwellings. Annually, there are between ****** and ****** housing construction completions. Average house prices The average house price for a first-time buyer in London was over ******* British pounds in 2023, more than any other city in the UK. Overall, it was more affordable to buy a newly built property than an existing one, a price gap of over 100,000 British pounds. Average rental costs Unsurprisingly, London also topped the ranking as the most expensive region for renters. The average cost of rent exceeding ***** British pounds in 2024. Certain Boroughs in London will set back the average renter more than others. Westminster, Lambeth, and Hammersmith, Fulham, Kensington and Chelsea were the most expensive boroughs based on the average monthly rent.

🇬🇧 United Kingdom English Net additional dwellings by local authority district, England 2004-05 to 2010-11 All figures have been rounded to the nearest 10. If the submitted figure was less than 5, it has been recorded in this dataset as 0. If no data was submitted, the observation is marked as 'missing'. In cases where changes in geography mean that a combination of year and local authority district is not applicable, the observation has been omitted from the dataset. Net additions measure the absolute increase in stock between one year and the next, including other losses and gains (such as conversions, changes of use and demolitions). Sources Housing Flows Reconciliation (HFR), the Greater London Authority and Regional Assembly joint returns. From 2000-01 to 2003-04, all local authorities submitted data to CLG through the Housing Flows Reconcilation (HFR) form. Following the abolition of the Regional Planning Bodies in 2010, Local authorities in all regions except London have returned to submitting data via the HFR from 2009-10. Data for London are supplied by the GLA. Between 2004-05 and 2008-09 CLG worked jointly with Regional Planning bodies in the south and midlands on joint data returns in an attempt to ensure consistency between the net housing supply figures reported in regional Annual Monitoring Reports (AMRs) and those published by central government. New Geographies On 1st April 2009 nine new unitary authorities (UAs) were formed from the combination of 37 former district councils. Figures are no longer collected on the previous geographic basis. Cheshire West UA from Chester, Ellesmere Port & Neston and Vale Royal; . Cheshire East UA was formed from Congleton, Crewe & Nantwich and Macclesfield; Bedford UA from Bedford; and Central Bedfordshire UA from Mid Bedfordshire and South Bedfordshire The remaining five new UAs were each formed from all former districts of the county concerned. Latest update 02/11/2011 Next update Oct-2012

Private companies were responsible for most of the new homes built in the United Kingdom (UK), amounting to ******* units in 2023. Housing completions in the UK decreased for three years in a row between 2007 and 2010. This was followed by several years of fluctuation and a gradual increase from 2013 to 2019. The number of homes completed in England remained relatively stable in 2021 and 2022, after reaching a low point in the second quarter of 2020 due to the restrictions implemented to prevent the spread of COVID-19. Construction starts and completions Comparing the number of starts and completions in London side-by-side shows that whenever there is a significant growth or fall in the number of projects started, that peak or valley tends to be reflected in the number of buildings completed a couple of years later. Nevertheless, disruptions, delays, and other obstacles may affect that correlation. Still, observing how many home construction projects started in the UK can provide some insight into the level of activity that construction companies may have in the near future. Given that the number of housing starts is forecast to fall in 2023, there might be slightly less work to be carried out the following year. Nevertheless, housing starts are expected to pick up again by 2024 and 2025. Housing associations in the UK Housing associations are not-for-profit organizations created to develop and rent homes for a lower price than in the private market. They have acquired certain relevance in the UK, although this type of organization also exists in other countries. On several occasions during the past decade, over a fifth of housing starts in London were developed by housing associations. Meanwhile, the number of new homes completed in Scotland by housing associations has increased a lot throughout the years, with several thousand units constructed every year during the past decades.

London is the most expensive city for office real estate in Europe. In 2023, the per square foot cost of office space in London was higher than in any other European city. In West End, a Grade A office cost about 90 British pounds per square foot in 2023. Prime offices were even more expensive, at 135 British pounds per square meter. Office yields Prime yields in Central London fluctuate depending on the district, but West End areas tend to have lower yields compared to other areas, such as Stratford or Canary Wharf. The prime office yield in Mayfair/St. James' in 2023 was the lowest among the major London office submarkets. In real estate, yields measure the potential return of a rental property and are calculated as the ratio of the property's rental income to the investment cost. Typically, prime office yields in London are lower than the rest of the UK, which is mostly due to the highly competitive market and high investment costs. Vacancy rates Despite the high office rental costs in England’s capital city, vacancy rates in many of London's main office markets were below seven percent in 2023. This is good news for the office sector, as during the coronavirus (COVID-19) pandemic, the share of vacant office space across all Central London districts spiked dramatically. Compared to other European cities, London was in the middle of the ranking, alongside Frankfurt and Lisbon.

Detached houses in the United Kingdom (UK) fetched on average 200,000 British pounds higher prices than semi-detached houses in 2023. The simple average price for detached houses was 496,000 British pounds. Meanwhile, semi-detached houses sold for 296,000 British pounds, on average. Prices also varied depending on whether the property was newly built or existing. On average, newly built properties were more affordable.

Most of England's housing stock is owner occupied and built before 1919. Among the homes built after 2002, about 2.1 million homes were owner occupied, about 654,000 were privately rented and approximately 459,000 were social housing. The largest share of social housing was found in buildings built between 1945 and 1980. In 2024, there were around 15.8 million owner occupied households in England.

Stamp Duty Land Tax (SDLT) is levied on properties bought over the threshold of 125,000 British pounds. The tax is implemented on all residential transactions, unless they are a first-time homebuyer and therefore can claim a form of discount. The total value of stamp duty land tax receipts in the fiscal year 2022/23 came to approximately 4.6 billion British pounds. One of the measures introduced as a response to the coronavirus (COVID-19) pandemic was a temporary reduction in the rates of the stamp duty land tax. The stamp duty holiday applied to purchases made between July 2020 and June 2021 with property value of up to 500,000 British pounds.

The are several factors that can accumulate in the repossession of a home, the most common reason for being mortgage arrears. This occurs when borrowers can no longer make the mortgage repayments. Mortgage lenders will repossess the home to sell to recover the money owed. In 2023, between *** and *** homes in England were repossessed monthly. In Wales, this figure ranged between ** and **. Which regions saw the most repossessions? The North West recorded the highest number of repossessions in 2023. Conversely, the East of England, South West, East Midlands, and Wales had the lowest number of repossessions. London and South East, the regions with the highest average earnings, ranked in the middle. Mortgage arrears on the rise Mortgage arrears in the UK have increased quarter-on-quarter since the third quarter of 2022, showing that homebuyers are increasingly struggling to meet their monthly obligations. Borrowers who missed a mortgage payment were highly likely to also fall behind on other financial commitments, with credit card debt being the most common one.