In 2022, house price growth in the UK slowed, after a period of decade-long increase. Nevertheless, in March 2025, prices reached a new peak, with the average home costing ******* British pounds. This figure refers to all property types, including detached, semi-detached, terraced houses, and flats and maisonettes. Compared to other European countries, the UK had some of the highest house prices. How have UK house prices increased over the last 10 years? Property prices have risen dramatically over the past decade. According to the UK house price index, the average house price has grown by over ** percent since 2015. This price development has led to the gap between the cost of buying and renting a property to close. In 2023, buying a three-bedroom house in the UK was no longer more affordable than renting one. Consequently, Brits have become more likely to rent longer and push off making a house purchase until they have saved up enough for a down payment and achieved the financial stability required to make the step. What caused the recent fluctuations in house prices? House prices are affected by multiple factors, such as mortgage rates, supply, and demand on the market. For nearly a decade, the UK experienced uninterrupted house price growth as a result of strong demand and a chronic undersupply. Homebuyers who purchased a property at the peak of the housing boom in July 2022 paid ** percent more compared to what they would have paid a year before. Additionally, 2022 saw the most dramatic increase in mortgage rates in recent history. Between December 2021 and December 2022, the **-year fixed mortgage rate doubled, adding further strain to prospective homebuyers. As a result, the market cooled, leading to a correction in pricing.

In December 2024, the average house price in England was pricier than in any other country. This considerable disparity in average house prices is in no small part down to the country's capital city, where the average asking price was more than double that of the UK’s average. Even in London, for those who can afford a mortgage, the savings made through buying over renting can be beneficial. What drives house prices? Average house prices are affected by several factors, including economic growth, unemployment, and interest rates. Housing supply also plays a considerable role, with a shortage of supply leading to increased competition and an upward push in prices. Conversely, an excess of housing means prices fall to stimulate buyers. House prices still set to grow The housing market in the UK is expected to continue to grow in the next years. By 2029,.the annual number of housing transactions is set to reach *** million. With transactions on the rise, the average house price is also set to rise.

Average House Prices in the United Kingdom increased to 298237 GBP in July from 297157 GBP in June of 2025. This dataset includes a chart with historical data for the United Kingdom Average House Prices.

The Nationwide average UK house price increased during the period under observation, reaching a value of over 272,751 British pounds as of the second quarter of 2025. During the same quarter in 2015, the average house price stood at 194,258 British pounds.

Summary of UK House Price Index (HPI) price statistics covering England, Scotland, Wales and Northern Ireland. Full UK HPI data are available on GOV.UK.

Median price paid for residential property in England and Wales, by property type and administrative geographies. Annual data.

In 2024, detached houses were the most expensive type of dwelling in the United Kingdom, at an average price of 487,000 British pounds. Flats or maisonettes in converted houses, on the other hand, cost on average 282,000 British pounds, making them 215,000 British pounds less expensive than detached houses or 62,000 British pounds less than the average for all dwelling types. Prices also varied for new and existing housing, with existing properties fetching higher prices, on average.

Annual house price data based on a sub-sample of the Regulated Mortgage Survey.

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.

Median price paid for residential property in England and Wales by property type and electoral ward. Annual data.

The house price index (HPI) shows changes in the value of residential properties in England, Scotland, Wales, and Northern Ireland. With the HPI set at a base of 100 in January 2023, a value of over 100 would mark an increase in the average dwelling price. A value of under 100 points, on the other hand, would indicate that the average price has dropped. In April 2025, the index measured 101.7 index points, showing an increase of 1.7 percent since January 2023. UK house prices grew rapidly during the COVID-19 pandemic House prices in the UK grew steadily between 2015 and 2020, fueled by stable economic growth and low borrowing costs. In the following two years, a combination of factors exacerbated this trend. These factors included a stamp duty holiday, low interest rates, a shortage of new homes supplied, and a high housing demand. As a result, house price growth soared, hitting a record 13.6 percent in July 2022. This trend in the index, and therefore the value of UK residential properties, has also been observed by the Halifax house price index. What is the average house price in the UK? Average house prices are affected by several factors. Economic growth, unemployment, interest rates and mortgage availability can all drive them up or down. A shortage of supply means that the need for housing and the competitive market created will push house prices up. An excess of housing, on the other hand, means prices fall to stimulate buyers.

This is the unadjusted median house priced for residential property sales (transactions) in the area for a 12 month period with April in the middle (year-ending September). These figures have been produced by the ONS (Office for National Statistics) using the Land Registry (LR) Price Paid data on residential dwelling transactions.

The LR Price Paid data are comprehensive in that they capture changes of ownership for individual residential properties which have sold for full market value and covers both cash sales and those involving a mortgage.

The median is the value determined by putting all the house sales for a given year, area and type in order of price and then selecting the price of the house sale which falls in the middle. The median is less susceptible to distortion by the presence of extreme values than is the mean. It is the most appropriate average to use because it best takes account of the skewed distribution of house prices.

Note that a transaction occurs when a change of freeholder or leaseholder takes place regardless of the amount of money involved and a property can transact more than once in the time period.

The LR records the actual price for which the property changed hands. This will usually be an accurate reflection of the market value for the individual property, but it is not always the case. In order to generate statistics that more accurately reflect market values, the LR has excluded records of houses that were not sold at market value from the dataset. The remaining data are considered a good reflection of market values at the time of the transaction. For full details of exclusions and more information on the methodology used to produce these statistics please see http://www.ons.gov.uk/peoplepopulationandcommunity/housing/qmis/housepricestatisticsforsmallareasqmi

The LR Price Paid data are not adjusted to reflect the mix of houses in a given area. Fluctuations in the types of house that are sold in that area can cause differences between the median transactional value of houses and the overall market value of houses. Therefore these statistics differ to the new UK House Price Index (HPI) which reports mix-adjusted average house prices and house price indices.

If, for a given year, for house type and area there were fewer than 5 sales records in the LR Price Paid data, the house price statistics are not reported. Data is Powered by LG Inform Plus and automatically checked for new data on the 3rd of each month.

Median price paid for residential property in England and Wales, for all property types by lower layer super output area. Annual data..

The price of existing dwellings in the UK increased significantly between 1990 and 2024. Existing housing reached a value of 335,000 British pounds in 2024. That was slightly higher than the previous year, when house prices were 331,000 pounds, but a substantial increase since 2019 when prices started to rise rapidly. Overall, flats or maisonettes in converted houses were the most affordable housing type in the UK in 2024.

Key information about House Prices Growth

• UK house prices grew 3.8% YoY in Feb 2025, following an increase of 4.0% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1992 to Feb 2025, with an average growth rate of 4.3%.
• House price data reached an all-time high of 26.4% in Jan 2003 and a record low of -17.5% in Feb 2009.

Summary statistics for housing transactions by local authority in England and Wales, on an annual basis, updated quarterly using HM Land Registry Price Paid Data. Select values from the Year and Month dimensions for data for a 12-month period ending that month and year (e.g. selecting June and 2018 will return the twelve months to June 2018).

House Price Index YoY in the United Kingdom decreased to 2.40 percent in July from 2.70 percent in June of 2025. This dataset includes a chart with historical data for the United Kingdom House Price Index YoY.

Affordability ratios calculated by dividing house prices by gross annual residence-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.

The simple average house price in the UK was higher for existing dwellings than for newly built ones in 2024. In that year, the average price for new housing amounted to 325,000 British pounds, while for existing housing, the price was 335,000 British pounds. Prices also varied for different property types, with flats or maisonettes in converted houses being the most affordable.