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.

In 2022, house price growth in the UK slowed, after a period of decade-long increase. Nevertheless, in November 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.

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.

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.

Average House Prices in the United Kingdom increased to 301151 GBP in February from 300283 GBP in January of 2026. This dataset includes a chart with historical data for the United Kingdom Average House Prices.

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

House prices in the UK rose dramatically during the coronavirus pandemic, with growth slowing down in 2022 and turning negative in 2023. The year-on-year annual house price change peaked at 14 percent in July 2022. In December 2025, house prices increased by 2.4 percent. As of mid-2025, the average house price was over 272,000 British pounds. Correction in housing prices: a European phenomenon The trend of a growing residential real estate market was not exclusive to the UK during the pandemic. Likewise, many European countries experienced falling prices in 2023. When comparing residential property RHPI (price index in real terms, e.g. corrected for inflation), countries such as Germany, France, Italy, and Spain also saw prices decline. Sweden, one of the countries with the fastest growing residential markets, saw one of the largest declines in prices. How has demand for UK housing changed since the outbreak of the coronavirus? The easing of the lockdown was followed by a dramatic increase in home sales. In November 2020, the number of mortgage approvals reached an all-time high of over 107,000. One of the reasons for the housing boom were the low mortgage rates, allowing home buyers to take out a loan with an interest rate as low as 2.5 percent. That changed as the Bank of England started to raise the base lending rate, resulting in higher borrowing costs and a decline in homebuyer sentiment.

Housing Index in the United Kingdom increased to 519.30 points in February from 517.80 points in January of 2026. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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

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 December 2025, the index measured 103.6 index points, showing an increase of 3.6 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.

House Price Index YoY in the United Kingdom increased to 1.30 percent in February from 1 percent in January of 2026. This dataset includes a chart with historical data for the United Kingdom House Price Index YoY.

Key information about House Prices Growth

• UK house prices grew 0.9% YoY in Feb 2026, following an increase of 0.9% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1992 to Feb 2026, with an average growth rate of -16.6%.
• House price data reached an all-time high of 26.4% in Jan 2003 and a record low of -17.5% in Feb 2009.

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

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

The house price index in London reached 96.9 index points in December 2025, which was a decrease of one percent year on year. The house price index (HPI) is an easy way of illustrating trends in the house sales market and helps simplify house purchase decisions. By using hedonic regression, the index models property price data for all dwellings and shows how much the price has changed since January 2023. Average house prices in London boroughs Location plays a huge role in the price of a home. Kensington and Chelsea and City of Westminster are undoubtedly the most expensive boroughs in London, with an average house price that can exceed one million British pounds. In comparison, a house in Barking and Dagenham cost approximately one third. Nevertheless, the housing market is the busiest in the boroughs with average house prices. How have regional house prices in the UK developed? House prices in other UK regions have risen even more than in London. In Northern Ireland, the house price index reached nearly 119 index points in November 2025, ranking it among the regions with the highest property appreciation. The UK house price index stood at 103.9 index points, suggesting an increase of 54 percent since 2015.

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.

Graph and download economic data for Real Residential Property Prices for United Kingdom (QGBR628BIS) from Q2 1968 to Q4 2025 about United Kingdom, residential, HPI, housing, real, price index, indexes, and price.

Northern Ireland recorded the highest house price growth in the UK as of November 2025, at ***** index points. The house price index (HPI) is an easy way of illustrating trends in the house sales market. By using hedonic regression, the index models property price data for all dwellings and shows how much the price has changed since January 2023. An index value of ***** index points indicates a price increase of **** percent since 2023.