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 April 2025, house prices increased by 3.5 percent. As of late 2024, the average house price was close to 290,000 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.

After a very slow second quarter of 2020 due to the coronavirus (COVID-19) pandemic, the housing market in the United Kingdom (UK) experienced dramatic surge in home sales. In the first quarter of 2021, the residential property supply varied between *** and *** months of available stock for sale in different regions of the UK, and *** months in Inner London. Considering the limited supply and the spike in demand, house prices have been on an upward trend.

The statistic displays a **** year forecast for house price growth in the United Kingdom (UK) from 2020 to 2024, revised with the coronavirus (covid-19) impact on the market. According to the forecast, 2020 and 2021 will likely see a slower to no increase in house prices followed by a gradual recovery between 2022 and 2024. North West, North East, Yorkshire & the Humber, and Scotland prices are forecast to bounce back quicker than other UK regions with higher **** year price increase.

We’ve examined how pandemic-related to disruption to office working, retail operations and the hospitality sector has affected the real estate market.

Due to changes in the collection and availability of data on COVID-19, this website will no longer be updated. The webpage will no longer be available as of 11 May 2023. On-going, reliable sources of data for COVID-19 are available via the COVID-19 dashboard and the UKHSA GLA Covid-19 Mobility Report Since March 2020, London has seen many different levels of restrictions - including three separate lockdowns and many other tiers/levels of restrictions, as well as easing of restrictions and even measures to actively encourage people to go to work, their high streets and local restaurants. This reports gathers data from a number of sources, including google, apple, citymapper, purple wifi and opentable to assess the extent to which these levels of restrictions have translated to a reductions in Londoners' movements. The data behind the charts below come from different sources. None of these data represent a direct measure of how well people are adhering to the lockdown rules - nor do they provide an exhaustive data set. Rather, they are measures of different aspects of mobility, which together, offer an overall impression of how people Londoners are moving around the capital. The information is broken down by use of public transport, pedestrian activity, retail and leisure, and homeworking. Public Transport For the transport measures, we have included data from google, Apple, CityMapper and Transport for London. They measure different aspects of public transport usage - depending on the data source. Each of the lines in the chart below represents a percentage of a pre-pandemic baseline. activity Source Latest Baseline Min value in Lockdown 1 Min value in Lockdown 2 Min value in Lockdown 3 Citymapper Citymapper mobility index 2021-09-05 Compares trips planned and trips taken within its app to a baseline of the four weeks from 6 Jan 2020 7.9% 28% 19% Google Google Mobility Report 2022-10-15 Location data shared by users of Android smartphones, compared time and duration of visits to locations to the median values on the same day of the week in the five weeks from 3 Jan 2020 20.4% 40% 27% TfL Bus Transport for London 2022-10-30 Bus journey ‘taps' on the TfL network compared to same day of the week in four weeks starting 13 Jan 2020 - 34% 24% TfL Tube Transport for London 2022-10-30 Tube journey ‘taps' on the TfL network compared to same day of the week in four weeks starting 13 Jan 2020 - 30% 21% Pedestrian activity With the data we currently have it's harder to estimate pedestrian activity and high street busyness. A few indicators can give us information on how people are making trips out of the house: activity Source Latest Baseline Min value in Lockdown 1 Min value in Lockdown 2 Min value in Lockdown 3 Walking Apple Mobility Index 2021-11-09 estimates the frequency of trips made on foot compared to baselie of 13 Jan '20 22% 47% 36% Parks Google Mobility Report 2022-10-15 Frequency of trips to parks. Changes in the weather mean this varies a lot. Compared to baseline of 5 weeks from 3 Jan '20 30% 55% 41% Retail & Rec Google Mobility Report 2022-10-15 Estimates frequency of trips to shops/leisure locations. Compared to baseline of 5 weeks from 3 Jan '20 30% 55% 41% Retail and recreation In this section, we focus on estimated footfall to shops, restaurants, cafes, shopping centres and so on. activity Source Latest Baseline Min value in Lockdown 1 Min value in Lockdown 2 Min value in Lockdown 3 Grocery/pharmacy Google Mobility Report 2022-10-15 Estimates frequency of trips to grovery shops and pharmacies. Compared to baseline of 5 weeks from 3 Jan '20 32% 55.00% 45.000% Retail/rec Google Mobility Report 2022-10-15 Estimates frequency of trips to shops/leisure locations. Compared to baseline of 5 weeks from 3 Jan '20 32% 55.00% 45.000% Restaurants OpenTable State of the Industry 2022-02-19 London restaurant bookings made through OpenTable 0% 0.17% 0.024% Home Working The Google Mobility Report estimates changes in how many people are staying at home and going to places of work compared to normal. It's difficult to translate this into exact percentages of the population, but changes back towards ‘normal' can be seen to start before any lockdown restrictions were lifted. This value gives a seven day rolling (mean) average to avoid it being distorted by weekends and bank holidays. name Source Latest Baseline Min/max value in Lockdown 1 Min/max value in Lockdown 2 Min/max value in Lockdown 3 Residential Google Mobility Report 2022-10-15 Estimates changes in how many people are staying at home for work. Compared to baseline of 5 weeks from 3 Jan '20 131% 119% 125% Workplaces Google Mobility Report 2022-10-15 Estimates changes in how many people are going to places of work. Compared to baseline of 5 weeks from 3 Jan '20 24% 54% 40% Restriction Date end_date Average Citymapper Average homeworking Work from home advised 17 Mar '20 21 Mar '20 57% 118% Schools, pubs closed 21 Mar '20 24 Mar '20 34% 119% UK enters first lockdown 24 Mar '20 10 May '20 10% 130% Some workers encouraged to return to work 10 May '20 01 Jun '20 15% 125% Schools open, small groups outside 01 Jun '20 15 Jun '20 19% 122% Non-essential businesses re-open 15 Jun '20 04 Jul '20 24% 120% Hospitality reopens 04 Jul '20 03 Aug '20 34% 115% Eat out to help out scheme begins 03 Aug '20 08 Sep '20 44% 113% Rule of 6 08 Sep '20 24 Sep '20 53% 111% 10pm Curfew 24 Sep '20 15 Oct '20 51% 112% Tier 2 (High alert) 15 Oct '20 05 Nov '20 49% 113% Second Lockdown 05 Nov '20 02 Dec '20 31% 118% Tier 2 (High alert) 02 Dec '20 19 Dec '20 45% 115% Tier 4 (Stay at home advised) 19 Dec '20 05 Jan '21 22% 124% Third Lockdown 05 Jan '21 08 Mar '21 22% 122% Roadmap 1 08 Mar '21 29 Mar '21 29% 118% Roadmap 2 29 Mar '21 12 Apr '21 36% 117% Roadmap 3 12 Apr '21 17 May '21 51% 113% Roadmap out of lockdown: Step 3 17 May '21 19 Jul '21 65% 109% Roadmap out of lockdown: Step 4 19 Jul '21 07 Nov '22 68% 107%

European Union House Price Index: EU 27 excl UK data was reported at 155.790 2015=100 in Dec 2024. This records an increase from the previous number of 154.620 2015=100 for Sep 2024. European Union House Price Index: EU 27 excl UK data is updated quarterly, averaging 102.895 2015=100 from Mar 2005 (Median) to Dec 2024, with 80 observations. The data reached an all-time high of 155.790 2015=100 in Dec 2024 and a record low of 83.540 2015=100 in Mar 2005. European Union House Price Index: EU 27 excl UK data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.EB001: Eurostat: House Price Index: 2015=100. [COVID-19-IMPACT]

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

United Kingdom Residential Real Estate Market is Segmented by Property Type (Apartments and Condominiums, and Villas and Landed Houses), by Price Band (Affordable, Mid-Market and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary and Secondary), and by Region (England, Scotland, Wales and Northern Ireland). The Market Forecasts are Provided in Terms of Value (USD)

To contain the spread of the coronavirus (COVID-19), on March 23, 2020, a number of restrictions unfolded in the United Kingdom (UK). The population was urged to stay and work from home and many retailers deemed non-essential had to temporarily suspend their operations. The disruption of activity is a serious threat to the survival of businesses in the retail sector. This could have a knock-on effect on the commercial real estate sector. Nevertheless, more than ** percent of the out-of-town retail and leisure real estate area was deemed essential and could potentially remain open. This was the equivalent of ** percent of units in this market.

The UK land registry upload a "current month" snapshot towards the end of every month, available at:

http://prod.publicdata.landregistry.gov.uk.s3-website-eu-west-1.amazonaws.com/pp-monthly-update-new-version.csv

This contains new additions and also changes/deletions to past records.

Further detail about the data here: https://www.gov.uk/government/statistical-data-sets/price-paid-data-downloads

I'm planning to download the snapshot each month so I can build up a picture of the land registry's reporting delays.

There's already an interesting write up on their reporting delays in 2021 here: https://builtplace.com/digging-deeper-land-reg-lag-coronavirus/

The file names in the format: {year_month of data period}-{year_month the data was made available by ONS}

Gross fixed capital formation for housing decreased significantly in several European countries in early 2020 but followed with a drop in the second quarter of the year with the coronavirus (COVID-19) outbreak. This translated into a halt of residential property investments. In countries like the United Kingdom (UK), Ireland, France, Spain, Italy, and Luxembourg the year-on-year percentage decrease was between ** and ** percent. Тhis was not the case with several countries that kept housing investment growing on an year-on-year basis in 2020: Greece, Hungary, Sweden, Denmark, and Czechia.

More in-depth data can be found in the report on the coronavirus impacting house prices in Europe in 2020 and 2021.

Real estate investment trusts (REITs) are attractive investment vehicles, as they are exempt from corporate tax. A reduction in REIT requirements and restrictions has encouraged new entrants, although many were hit hard by the retail crash during the COVID-19 outbreak. Revenue is expected to grow at a compound annual rate of 0.4% over the five years through 2024-25 to £8.5 billion including estimated growth of 11.8% in 2024-25, while the average profit is expected to be 19.3%. As many REITs own some form of retail and office property, lockdowns and social distancing measures during the pandemic meant the REIT industry lost revenue. Many REITs were forced to sell assets to stay afloat, threatening a spiral in retail property value, with shopping centre giant Intu Properties collapsing into administration. While many REITs with exposure to warehouses performed well in the aftermath of the COVID-19 outbreak amid the e-commerce boom, the industry contended with significant headwinds like rising interest rates and rock-bottom confidence in 2022-23, hurting asset valuations and stifling investment activity. Macroeconomic conditions improved somewhat in 2023-24, with both business and consumer confidence picking up thanks to more optimistic growth prospects and stabilising interest, supporting rental income. However, the higher base rate environment has posed financing challenges, resulting in REITs finding alternative sources of finances like share placements to capitalise on low property values. In 2024-25, REITs have welcomed interest rate cuts, easing financing pressures and lifting asset values. This will support balance sheets, driving investment activity and revenue growth. REIT revenue is forecast to grow at a compound annual rate of 5.6% over the five years through 2029-30 to £11.2 billion. The hike in corporation tax in April 2023 has resulted in investors looking towards REITs due to their tax advantages, positioning REITs for significant investment in the coming years and driving revenue growth. REITs will welcome solid government support in the form of regulatory changes aiming at making the industry more competitive. Technological innovation will also shape the industry. Most notably, proptech solutions are being introduced, which improve property management and operating efficiency, supporting profit.

United Kingdom CJRS Claims: To-Date: Value: Property data was reported at 120.000 GBP mn in Sep 2021. This records an increase from the previous number of 104.000 GBP mn for Aug 2021. United Kingdom CJRS Claims: To-Date: Value: Property data is updated monthly, averaging 212.000 GBP mn from May 2020 (Median) to Sep 2021, with 17 observations. The data reached an all-time high of 753.000 GBP mn in Oct 2020 and a record low of 34.000 GBP mn in May 2021. United Kingdom CJRS Claims: To-Date: Value: Property data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.G077: Coronavirus Job Retention Scheme: SIC 2007 (Discontinued).

During the COVID-19 pandemic, the number of house sales in the UK spiked, followed by a period of decline. In 2023 and 2024, the housing market slowed notably, and in January 2025, transaction volumes fell to 46,774. House sales volumes are impacted by a number of factors, including mortgage rates, house prices, supply, demand, as well as the overall health of the market. The economic uncertainty and rising unemployment rates has also affected the homebuyer sentiment of Brits. How have UK house prices developed over the past 10 years? House prices in the UK have increased year-on-year since 2015, except for a brief period of decline in the second half of 2023 and the beginning of 2024. That is based on the 12-month percentage change of the UK house price index. At the peak of the housing boom in 2022, prices soared by nearly 14 percent. The decline that followed was mild, at under three percent. The cooling in the market was more pronounced in England and Wales, where the average house price declined in 2023. Conversely, growth in Scotland and Northern Ireland continued. What is the impact of mortgage rates on house sales? For a long period, mortgage rates were at record-low, allowing prospective homebuyers to take out a 10-year loan at a mortgage rate of less than three percent. In the last quarter of 2021, this period came to an end as the Bank of England rose the bank lending rate to contain the spike in inflation. Naturally, the higher borrowing costs affected consumer sentiment, urging many homebuyers to place their plans on hold and leading to a decline in sales.

Multimodal MRI protocols for COVID-related neuroimaging with Siemens and GE 3T scanners.

After declining slightly in the third quarter of 2023, the value of the Halifax standardized house price increased in the fourth quarter of the year. The average house price stood at approximately 287,000 British pounds in December, up from approximately 279,000 British pounds in September 2023. The correction is a result of the combination of the rising interest rates, dramatic house price increase since the beginning of the coronavirus pandemic, and the low housing inventory.

House prices vary widely in the United Kingdom (UK), but housing in certain cities and counties is substantially pricier than in others. Surrey, for example, concentrated four of the most expensive towns to buy a home, including Virginia Water, Cobham, and Esher. With an average house price of over *********** British pounds as of June 2024, housing in these towns cost roughly **** times the national average. How did house prices change since the COVID-19 pandemic? Since the start of the coronavirus (COVID-19) pandemic, demand for housing has been especially high, causing house prices to soar. Among major UK cities, the house price increase was most prominent in Belfast, where it rose by *** percent in 2024. According to the UK House Price Index, the average annual house price increase on a national level was even higher. How long does it take to sell a house? With the demand for housing going strong and inventory running low, aspiring homeowners need to act faster than ever when making an offer on a home. The average number of days on market has continued shortening since the start of 2021 and was a little over a month as of October 2021. Surprisingly, selling a property took the longest in the UK’s most competitive market - London.

The RICS Residential Market Survey examines the state of the residential real estate market in England. In just a few months, after the first measures to contain the coronavirus (COVID-19) kicked in, real estate agents started anticipating shifts in the demand for properties with various features. According to more than *** in ***** respondents, in the next two years, people will be looking to buy more properties with greater private space, located near a green area, with gardens and balconies. Demand for properties in highly urban areas, on the other hand, is expected to decrease.

The majority of young adults in the UK were still committed to buying a property in 2023, with ************ wanting to get on the property ladder as soon as possible. Nevertheless, ** percent of respondents shared that their home buying plans were on hold, while ** percent admitted that they need more monetary support from family, friends, and lenders. Since the beginning of the coronavirus pandemic, house prices have soared, markedly outpacing income growth. Furthermore, interest rates have doubled since 2021, resulting in a substantial increase in the cost of buying a home.

According to a survey conducted among 2,000 adults in the United Kingdom (UK), in December 2023, the majority of respondents found the affordability of mortgage repayments the biggest barrier to a property purchase. Between 2021 and 2023, the share of respondents who chose mortgage affordability as the main challenge rose 39 percent to 68 percent. This was due to the dramatic increase in house prices since the beginning of the coronavirus pandemic and the mortgage rates hike in 2022.