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 a semi-detached house in Camden, London's third most expensive borough, increased by *** percent year-on-year in May 2025. Despite a decline of ****percent, Hammersmith and Fulham saw some of the most expensive semi-detached homes prices in London. At the other end of the spectrum was Barking and Dagenham - the most affordable and only borough where homebuyers could purchase a property for under ******* British pounds. Semi-detached homes are those that were built as one of two properties that share a common wall.

The average price of a detached house in Kensington and Chelsea, London's most expensive borough, increased by ****percent year-on-year in May 2025. Homebuyers spent on average approximately *****million British pounds to buy a detached house in Kensington and Chelsea. Detached houses are those that are not attached to any other dwellings. Finding such property available for purchase in London is not only hard but out of reach for the vast majority.

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.

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

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).

The price of terraced housing in Bromley rose by *** percent year-on-year in May 2025, making it the borough with the highest price increase in London. At about ******* British pounds, the most affordable borough in London to purchase a terraced house was Barking and Dagenham. The same borough also had the cheapest average price for semi-detached homes in London.

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.

Canada Construction Price Index: Residential: Single Detached House: London data was reported at 105.500 2023=100 in Mar 2025. This records an increase from the previous number of 103.000 2023=100 for Dec 2024. Canada Construction Price Index: Residential: Single Detached House: London data is updated quarterly, averaging 100.700 2023=100 from Mar 2023 (Median) to Mar 2025, with 9 observations. The data reached an all-time high of 105.500 2023=100 in Mar 2025 and a record low of 99.300 2023=100 in Jun 2023. Canada Construction Price Index: Residential: Single Detached House: London data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.EA011: Construction Price Index: 2023=100.

UK Residential Real Estate Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2024 to 2031.

The UK residential real estate market is driven by robust demand for housing, especially in major cities like London, Manchester, and Birmingham. The UK government’s housing strategy aims to deliver 300,000 new homes annually to meet demand, which continues to outpace supply. With an increasing population and changing demographics, including more people opting for homeownership, demand for residential properties remains high. The need for family homes and affordable housing continues to drive growth in both urban and suburban markets.

Moreover, government initiatives such as the Help to Buy scheme and Stamp Duty cuts have played a significant role in encouraging first-time buyers to enter the residential market. Recent changes to Stamp Duty, which saw exemptions for homes below a certain price threshold, have increased affordability for many buyers. The government’s First Homes Scheme offers new properties at a discounted rate for first-time buyers, making homeownership more accessible. According to the UK Ministry of Housing, Communities, and Local Government, the scheme has helped thousands of young buyers get onto the property ladder.

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.

The European residential construction market, valued at €1.08 billion in 2025, is projected to experience robust growth, driven by factors such as increasing urbanization, rising disposable incomes in several key European nations, and supportive government policies aimed at stimulating housing development. The market's Compound Annual Growth Rate (CAGR) of 5.67% from 2025 to 2033 signifies a considerable expansion, indicating a significant opportunity for construction companies and related businesses. Growth is expected to be particularly strong in countries experiencing population growth and housing shortages, such as the United Kingdom, Germany, and France. The market is segmented by property type (single-family and multi-family) and construction type (new construction and renovation). The new construction segment is expected to dominate, propelled by increasing demand for new homes, while the renovation segment will see steady growth driven by the need to upgrade existing housing stock to meet modern standards and improve energy efficiency. Key players such as Vistry Group, Bellway plc, and Barratt Developments plc are expected to remain significant market forces, leveraging their expertise and established market presence to benefit from this growth. However, challenges such as rising material costs, labor shortages, and stringent environmental regulations pose potential restraints, impacting profitability and project timelines. The fragmented nature of the market across various European countries presents both opportunities and challenges. While some nations will experience faster growth due to specific economic factors and supportive policies, others may lag behind. Therefore, companies operating in this market need a nuanced understanding of country-specific dynamics to achieve success. The long-term outlook for the European residential construction market remains positive, although it is subject to potential macroeconomic fluctuations. The consistent demand for housing, driven by population growth and changing lifestyles, will continue to support market expansion, while the incorporation of sustainable building practices and technological advancements will shape the future of the sector. Further expansion into the renovation segment provides ample opportunities to tap into existing housing stock with sustainable retrofitting projects, bolstering market growth through both new builds and increased housing value. This in-depth report provides a comprehensive analysis of the Europe residential construction market, covering the period from 2019 to 2033. With a focus on key market trends, growth drivers, and challenges, this report offers invaluable insights for investors, builders, developers, and industry stakeholders. The report utilizes data from the historical period (2019-2024), the base year (2025), and projects the market’s trajectory through the forecast period (2025-2033), with an estimated year of 2025. It examines market dynamics across various segments, including single-family and multi-family property types, new construction and renovation projects, and provides granular insights into key European countries and regions. The report’s detailed analysis of market concentration, M&A activity, and regulatory impacts provides a 360° view of this dynamic sector. Recent developments include: April 2023: Apollo Global Management Inc. agreed to buy part of a portfolio of apartments from Vonovia SEfor €1 billion ($1.1 billion), with the largest German residential deal in months suggesting confidence is returning to the under-pressure sector. The private equity firm will acquire a minority stake in 21,000 homes in the German state of Baden-Wuerttemberg at a discount of about 5% to the portfolio’s year-end valuation., October 2023: The new housing association, Sovereign Network Group (SNG), announced its formation yesterday following a tie-up between 61,000-home Sovereign and Network Homes, which managed 21,000 properties. The new organisation will be a member of the G15 group of London’s largest landlords, and will manage more than 82,000 homes with 210,000 customers across London, Hertfordshire and the South of England.. Key drivers for this market are: Demand for New Dwellings Units, Government Initiatives are driving the market. Potential restraints include: Supply Chain Disruptions, Lack of Skilled Labour. Notable trends are: Increasing in Investments in Multifamily Residential Construction.

建筑业价格指数：住宅：独立式住宅：伦敦在03-01-2025达105.5002023=100，相较于12-01-2024的103.0002023=100有所增长。建筑业价格指数：住宅：独立式住宅：伦敦数据按季更新，03-01-2023至03-01-2025期间平均值为100.7002023=100，共9份观测结果。该数据的历史最高值出现于03-01-2025，达105.5002023=100，而历史最低值则出现于06-01-2023，为99.3002023=100。CEIC提供的建筑业价格指数：住宅：独立式住宅：伦敦数据处于定期更新的状态，数据来源于Statistics Canada，数据归类于全球数据库的加拿大 – Table CA.EA011: Construction Price Index: 2023=100。

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.

The house price for Ontario is forecast to increase slightly in 2025, after declining by *** percent in 2023. From roughly ******* Canadian dollars, the average house price in Canada's second most expensive province for housing is expected to rise to ******* Canadian dollars in 2025. After British Columbia, Ontario is Canada's most expensive province for housing. Ontario Ontario is the most populated province in Canada, located on the eastern-central side of the country. It is an English speaking province. To the south, it borders American states Minnesota, Michigan, Ohio, Pennsylvania, and New York. Its provincial capital and largest city is Toronto. It is also home to Canada’s national capital, Ottawa. Furthermore, a large part of Ontario’s economy comes from manufacturing, as it is the leading manufacturing province in Canada. The population of Ontario has been steadily increasing since 2000. The population in 2023 was an estimated **** million people. The median total family income in 2022 came to ******* Canadian dollars. Ontario housing market The number of housing units sold in Ontario is projected to rise until 2025. Additionally, the average home prices in Ontario have significantly increased since 2007.

The average rent for flats and maisonettes in the private rental market in Great Britain increased faster than any other property type as of January 2025. The Index of Private Housing Rental Prices measures the change in the price of renting residential property from private landlords, based on an index value of 100 in January 2023. In January 2025, the index value for flats and maisonettes amounted to 119.5 index point, suggesting an increase of nearly 20 percent since the baseline year. Detached houses increased by 16 percent.