The borough with the highest property prices in London, Kensington and Chelsea, had an average price for a flat that was about 600,000 British pounds higher than the London average. London is the most populous metropolitan area in the UK, and living in it comes with a price tag. Unsurprisingly, the most expensive boroughs in terms of real estate prices are located in the heart of the metropolis: Kensington and Chelsea, the City of Westminster, and the City of London. In Kensington and Chelsea, home to several museums such as the Natural History Museum, the Victoria and Albert Museum, and the Science Museum, as well as galleries and theaters, the average price of apartments was over million British pounds. How have residential property prices developed in recent years? The average house price in England declined slightly in 2023 after increasing year-on-year since 2008. The housing market in Wales also experienced a mild correction, but prices in Scotland and Northern Ireland continued to grow. Since 2015, the base year of the UK House Price Index, house prices in London have risen by over 30 percent. In London, the cost of a flat decreased by 0.3 percent year-on-year as of June 2024. However, some of the most expensive boroughs recorded a decline of over 10 percent. Are residential property prices in London expected to grow in the future? Despite property prices declining in 2023, the market is forecast to continue to grow in the next five years, according to a March 2023 forecast. Some of the reasons for this are the robust demand for housing, the chronic shortage of residential properties and the anticipated decline in mortgage interest rates.

The average mix-adjusted house price in London, England, peaked in August 2022, followed by a slight correction in 2023. In June 2024, the average house price amounted to about 523,134 British pounds, up from 519,795 British pounds a year ago. These recent fluctuations have also been observed by other measures, such as the house price index. The house price index is an important measure for the residential real estate market and is used to show changes in the value of residential properties.

The monthly house price index in London has been steadily increasing in recent years. In June 2024, the index reached 129.9, up from 129 a year before. Nevertheless, prices widely varied in different London boroughs, with Kensington and Chelsea being the priciest boroughs for an apartment purchase.

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

The average price of houses bought by first-time buyers was notably lower than houses purchased by repeat buyers in London in 2023. Homebuyers spent on overage 383,000 British pounds when purchasing their first property in 2023. For repeat buyers, this figure amounted to 657,000 British pounds in that year. In London, the average house price was about 590,000 British pounds in 2023.

Average annual and quarterly house prices based on Land Registry data, by borough.

Lower and Upper quartile prices are included in the table. Quarterly Lower Quartile data is taken from DCLG Table 583 up to Q3 2011. All other data is from Land Registry.
Excluded from the above figures are sales at less than market price (e.g. Right To Buy), sales below £1,000 and sales above £20m.
The "median" property price is determined by ranking all property prices in ascending order.
The median is the mid-point of this ranking with 50 per cent of prices below the median and 50 per cent above
The figures for the latest quarter are provisional and figures for all other quarters have been revised.

Data from CLG Table numbers: 581, 582, 585 and 586.

From the 1st of November 2012 DCLG no longer publishes this data at regional level.

Now also includes monthly data from the Land Registry.

Also available are Average house prices for London, by borough, ward, LSOA and MSOA, based on GLA calculations of Land Registry price paid datasets.

Price Paid Datasets

The full land registry price paid datasets are available to download here. This shows details of each house sale since 1995 in England and Wales. The files are broken down into smaller chunks to make it possible to open in Excel2010.

The England and Wales files contain the following fields:

unique_id
price
date
Post code
Property type
Whether newbuild
Freehold
Address1
Town

Local_authority
County
Record_status
Year
Month
Quarter
Region
Country

The London files contain the following fields:

id (London)
transaction_id
Price
Date_processed
Quarter
Month
Year
Year_month
Post_code
Property_type
Whether_new
Tenure
Address1
Address2
Address3
Address4
Town
Local_authority
County
Record_status
Post_code_clean
Inner_outer
Borough_code
Borough_name
Ward_code
Ward_name
MSOA11
LSOA11
OA11

Download (Beware: large file sizes):

England and Wales 1995-2013 (Zip) 911MB

London 1995-2013 (Zip) 190MB

NB Files correct to end of March 2014.

https://www.gov.uk/government/statistical-data-sets/house-price-index-background-tables

https://www.gov.uk/government/statistical-data-sets/live-tables-on-housing-market-and-house-prices

Analysis of ‘Housing Prices in London’ provided by Analyst-2 (analyst-2.ai), based on source dataset retrieved from https://www.kaggle.com/arnavkulkarni/housing-prices-in-london on 28 January 2022.

--- Dataset description provided by original source is as follows ---

Content

This dataset comprises of various house listings in London and neighbouring region. It also encompasses the parameters listed below, the definitions of which are quite self-explanatory. • Property Name • Price • House Type - Contains one of the following types of houses (House, Flat/Apartment, New Development, Duplex, Penthouse, Studio, Bungalow, Mews) • Area in sq ft • No. of Bedrooms • No. of Bathrooms • No. of Receptions • Location • City/County - Includes London, Essex, Middlesex, Hertfordshire, Kent, and Surrey. • Postal Code

Inspiration

This dataset has various parameters for each house listing which can be used to conduct Exploratory Data Analysis. It can also be used to predict the house prices in various regions of London by means of Regression Analysis or other learning methods.

--- Original source retains full ownership of the source dataset ---

The house price index in London reached 129.9 index points in June 2024, which was an increase from a year ago, despite a mild correction. The house price index (HPI) is an easy way of illustrating trends in the house sales market and help 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 2015. How have regional house prices in the UK developed? House prices in other UK regions have risen even more than in London. In the North West, the house price index exceeded 160 index points, ranking it among the regions with the highest property appreciation. The UK house price index stood at 151 index points, suggesting an increase of 51 percent since 2015. Average house prices 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.

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

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

This page is no longer being updated. Please use the UK House Price Index instead.

Mix-adjusted house prices, by new/pre-owned dwellings, type of buyer (first time buyer) and region, from February 2002 for London and UK, and average mix-adjusted prices by UK region, and long term Annual House Price Index data since 1969 for London.

The ONS House Price Index is mix-adjusted to allow for differences between houses sold (for example type, number of rooms, location) in different months within a year. House prices are modelled using a combination of characteristics to produce a model containing around 100,000 cells (one such cell could be first-time buyer, old dwelling, one bedroom flat purchased in London). Each month estimated prices for all cells are produced by the model and then combined with their appropriate weight to produce mix-adjusted average prices. The index values are based on growth rates in the mix-adjusted average house prices and are annually chain linked.

The weights used for mix-adjustment change at the start of each calendar year (i.e. in January). The mix-adjusted prices are therefore not comparable between calendar years, although they are comparable within each calendar year. If you wish to calculate change between years, you should use the mix-adjusted house price index, available in Table 33.

The data published in these tables are based on a sub-sample of RMS data. These results will therefore differ from results produced using full sample data. For further information please contact the ONS using the contact details below.
House prices, mortgage advances and incomes have been rounded to the nearest £1,000.
Data taken from Table 2 and Table 9 of the monthly ONS release.

Download from ONS website

Median price paid for residential property in England and Wales, by property type and Middle layer Super Output Area (MSOA). Quarterly rolling annual data. Formerly HPSSA dataset 2.

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

According to the forecast, house prices in London are expected to fall slightly in 2024, followed by a recovery in the following years. The decline can be explained with the cost of living crisis and the dramatic increase in borrowing costs. As the economy recovers in the next five-years, house prices for mainstream properties are forecast to rise by almost 14 percent. In 2023, the average house price in London ranged between 350,000 British pounds and 1.4 million British pounds, depending on the borough. Barking and Dagenham, Bexley, Newham, and Croydon were some of the most affordable boroughs to buy a house.

One of several indicators for house prices published on a quarterly basis. The data are mix-adjusted and (unlike in the case of data from Halifax or Nationwide) are based on completed transactions. For the latest ONS release, see here.

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).

Mix-adjusted house prices, by new/pre-owned dwellings, type of buyer (first time buyer) and region, from February 2002 for London and UK, and average mix-adjusted prices by UK region.

The data published in these tables are based on a sub-sample of RMS data. These results will therefore differ from results produced using full sample data. For further information please contact the ONS using the contact details below.
House prices, mortgage advances and incomes have been rounded to the nearest £1,000.
Data taken from Table 2 and Table 9 of the monthly ONS release.
The weights used for mix-adjustment change at the start of each calendar year (i.e. in January). The mix-adjusted prices are therefore not comparable between calendar years, although they are comparable within each calendar year. If you wish to calculate change between years, you should use the mix-adjusted house price index, available in Table 33.

Download from ONS website

This repository is the second updated version of the attribute-linked residential property price dataset in UK Data Service ReShare 854240 (https://reshare.ukdataservice.ac.uk/854240/). As with the first updated version (ReShare 855033 https://reshare.ukdataservice.ac.uk/855033/) in 2021, this updated dataset contains individual property transactions and associated variables from both Land Registry Price Paid Dataset (LR PPD) and the Ministry for Housing, Communities and Local Government (MHCLG) Domestic Energy Performance Certificate (EPC) data. This is a linked result by address matching between LR-PPD data (1/1/1995-27/6/2022) and Domestic EPCs data (the twelfth version: ending with 30/6/2022). It is the whole of the 2022 update house price per square metre dataset published in the Greater London Authority (GLA) London Datastore (https://data.london.gov.uk/dataset/house-price-per-square-metre-in-england-and-wales).

The linked dataset in this repository is the uncorrected version, recording almost 20 million transactions with 106 variables in England and Wales between 1/1/1995 and 27/6/2022. We have offered technical validation and data cleaning code in UKDA ReShare 854240 to help users to evaluate the representation and to clean up the data. There is no unique way to clean this raw linked dataset, so we suggest users develop their own clean-up process based on their research requirements. In addition, this repository covers the original LR PPD and Domestic EPCs for the linked data (house price per square metre dataset). Similar to the first updated version, a field header has been added in LR PPD. Six variables (individual lodgement identifier, address, address 1, address 2, address 3, postcode) in Domestic EPCs are removed. A newly created unique identifier (id) is added in Domestic EPCs, this id is newly created for Version 12 Domestic EPCs. It is not the same id as in the Domestic EPCs from UK Data Service ReShare 854240 and ReShare 855033. Since November 2021 DLUCH has published Domestic EPCs with the Unique Property Reference Number (UPRN) hence the dataset in this repository contains the UPRN information from the Domestic EPCs.

Graph and download economic data for Real Residential Property Prices for United Kingdom (QGBR628BIS) from Q2 1968 to Q3 2024 about United Kingdom, residential, HPI, housing, real, price index, indexes, and price.