This statistic shows the house price forecasts for England and London from 2013 to 2020. In 2020, the estimated house price for home in London is 647,500 British pounds (GBP).

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.

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.

IMPORTANT NOTE: These projections have been superceded, please see https://data.london.gov.uk/demography/ for the latest GLA projections. The 2013 round of projections included the following household projection variants: Three variants of trend-based projection (Central, High, Low) that used different migration assumptions and which were used to inform the Strategic Housing Market Assessment (SHMA) and Further Alterations to the London Plan (FALP). Development-linked projections using development trajectories derived from the 2013 Strategic Housing Land Availability Assessment. Users of the capped household size projections should be aware that at this time no consistent set of household projections exist. The methodology employed to produce these population projections effectively builds in the assumption that there will be a deviation away from the DCLG household formation rates that underpin the GLA’s household model. Without valid household formation rates it is not possible to produce detailed household projections. The household model used for this round take household formation rates from DCLG’s 2011-based household projections. These projections only extend to 2021. The GLA has extrapolated these rates forward to 2041.

This statistic shows the annual private rents forecast for England and London from 2013 to 2020. In 2020, the estimated annual rent for a home in London 22,249 British pounds (GBP).

European Union House Price Index: Existing Dwellings: EU 27 excl UK data was reported at 153.400 2015=100 in Dec 2024. This records an increase from the previous number of 152.420 2015=100 for Sep 2024. European Union House Price Index: Existing Dwellings: EU 27 excl UK data is updated quarterly, averaging 109.210 2015=100 from Dec 2009 (Median) to Dec 2024, with 61 observations. The data reached an all-time high of 153.400 2015=100 in Dec 2024 and a record low of 96.690 2015=100 in Mar 2013. European Union House Price Index: Existing Dwellings: 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.

This statistic depicts the home textiles market size in the United Kingdom (UK) from 2013 to 2015, with a forecast of 2020, by applications category. In 2015, it was reported that the bed linen and bed spread segment reached approximately **** billion dollars and was projected to increase to around **** billion dollars by 2020.

United Kingdom BI: CL 2013p: Non Mfg: Private: OS: Real Estate, Renting & Business data was reported at 7,202.000 GBP mn in Mar 2017. This records a decrease from the previous number of 7,271.000 GBP mn for Dec 2016. United Kingdom BI: CL 2013p: Non Mfg: Private: OS: Real Estate, Renting & Business data is updated quarterly, averaging 5,344.000 GBP mn from Mar 1998 (Median) to Mar 2017, with 77 observations. The data reached an all-time high of 8,288.000 GBP mn in Jun 2016 and a record low of 4,250.000 GBP mn in Dec 1999. United Kingdom BI: CL 2013p: Non Mfg: Private: OS: Real Estate, Renting & Business data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.S010: ESA 2010: Business Investment: 2013 Price. Rebased from 2013p to 2015p Replacement series ID: 390383587

United Kingdom GDP: GVA: CL 2013p: Real Estate Activities data was reported at 50,758.000 GBP mn in Jun 2017. This records an increase from the previous number of 50,471.000 GBP mn for Mar 2017. United Kingdom GDP: GVA: CL 2013p: Real Estate Activities data is updated quarterly, averaging 40,038.000 GBP mn from Mar 1990 (Median) to Jun 2017, with 110 observations. The data reached an all-time high of 50,758.000 GBP mn in Jun 2017 and a record low of 25,753.000 GBP mn in Dec 1991. United Kingdom GDP: GVA: CL 2013p: Real Estate Activities data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.A036: ESA 2010: GVA: by Industry: Chain Linked: 2013 Prices. Rebased from 2013p to 2015p Replacement series ID: 390383967

United Kingdom Construction Output Volume: 2013p: RM: Housing: Private data was reported at 4,703.000 GBP mn in Jun 2017. This records an increase from the previous number of 4,501.000 GBP mn for Mar 2017. United Kingdom Construction Output Volume: 2013p: RM: Housing: Private data is updated quarterly, averaging 4,421.500 GBP mn from Mar 1997 (Median) to Jun 2017, with 82 observations. The data reached an all-time high of 5,565.000 GBP mn in Dec 2002 and a record low of 3,310.000 GBP mn in Mar 2010. United Kingdom Construction Output Volume: 2013p: RM: Housing: Private data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.EA024: Construction Output Volume: 2013 Price. Rebased from 2013p to 2015p Replacement series ID: 391902547

United Kingdom Construction Output Volume: 2013p: RM: Housing data was reported at 6,292.000 GBP mn in Jun 2017. This records an increase from the previous number of 6,218.000 GBP mn for Mar 2017. United Kingdom Construction Output Volume: 2013p: RM: Housing data is updated quarterly, averaging 6,312.000 GBP mn from Mar 1997 (Median) to Jun 2017, with 82 observations. The data reached an all-time high of 7,379.000 GBP mn in Mar 2004 and a record low of 5,339.000 GBP mn in Mar 2013. United Kingdom Construction Output Volume: 2013p: RM: Housing data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.EA024: Construction Output Volume: 2013 Price. Rebased from 2013p to 2015p Replacement series ID: 391902557

This statistic displays the office vacancy rate in London (UK) from 2006 to 2013 and a forecast thereof until 2019. Office vacancy rates are numerical calculations of all office space that is available to rent in any given market. The calculation is presented as percentage and it is the opposite to office occupancy rates. The office vacancy rate in London amounted to seven percent in 2013 (decrease from 10.2 percent in 2010) and it was projected to decrease further to 4.4 percent by 2019. Office vacancy rates are understood as one of the indicators, foretelling the future good or poor economic performance of the commercial sector in London. The lower the office vacancy rate, the better conditions for business, as companies have confidence in expanding and upgrading, and the market witnesses numerous new entries into the business. It is also interesting to juxtapose the projections for the leading European cities, such as for example the vacant office space in Frankfurt or office vacancies on the market in Paris, in view of the theory of global centers of business being interconnected and more similar to one another, than to the region they are located in.

United Kingdom Construction Output Volume: 2013p: sa: NW: Housing: Private data was reported at 7,032.000 GBP mn in Jun 2017. This records a decrease from the previous number of 7,047.000 GBP mn for Mar 2017. United Kingdom Construction Output Volume: 2013p: sa: NW: Housing: Private data is updated quarterly, averaging 4,311.000 GBP mn from Mar 1997 (Median) to Jun 2017, with 82 observations. The data reached an all-time high of 7,047.000 GBP mn in Mar 2017 and a record low of 3,017.000 GBP mn in Sep 2009. United Kingdom Construction Output Volume: 2013p: sa: NW: Housing: Private data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.EA025: Construction Output Volume: 2013 Price: Seasonally Adjusted. Rebased from 2013p to 2015p Replacement series ID: 391902177

United Kingdom GDP: CL 2013p: HCE: Domestic: Housing (HO) data was reported at 74,538.000 GBP mn in Mar 2017. This records an increase from the previous number of 73,733.000 GBP mn for Dec 2016. United Kingdom GDP: CL 2013p: HCE: Domestic: Housing (HO) data is updated quarterly, averaging 61,151.000 GBP mn from Mar 1985 (Median) to Mar 2017, with 129 observations. The data reached an all-time high of 75,112.000 GBP mn in Mar 2016 and a record low of 47,006.000 GBP mn in Sep 1985. United Kingdom GDP: CL 2013p: HCE: Domestic: Housing (HO) data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s UK – Table UK.A017: ESA 2010: GDP: Household Consumption Expenditure: Chain Linked: 2013 Prices. Rebased from 2013p to 2015p Replacement series ID: 390378997

United Kingdom GDP: sa: CL 2013p: HCE: Domestic: Housing data was reported at 71,917.000 GBP mn in Mar 2017. This records a decrease from the previous number of 72,442.000 GBP mn for Dec 2016. United Kingdom GDP: sa: CL 2013p: HCE: Domestic: Housing data is updated quarterly, averaging 61,552.000 GBP mn from Mar 1985 (Median) to Mar 2017, with 129 observations. The data reached an all-time high of 72,442.000 GBP mn in Dec 2016 and a record low of 48,754.000 GBP mn in Mar 1985. United Kingdom GDP: sa: CL 2013p: HCE: Domestic: Housing data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s UK – Table UK.A018: ESA 2010: GDP: Household Consumption Expenditure: Chain Linked: 2013 Prices: Seasonally Adjusted. Rebased from 2013p to 2015p Replacement series ID: 390380547

The number of housing starts and completions in London decreased sharply in the fiscal year 2024/25. That came after a period of steadily increasing housing starts between 2019/20 and 2022/23, with ****** units started that latter year. Meanwhile, the number of new residential property starts in London amounted to ***** dwellings in 2024/25. However, the overall housing starts in the United Kingdom were forecasted to grow significantly in the coming years. How do residential construction costs compare across regions in the United Kingdom? Construction costs have been an important challenge for contractors and homebuilders in the United Kingdom, having an effect on their profit, but also on the final price of housing. Residential construction costs in the UK varied significantly by city and building type, with apartment high-rises generally being more expensive to construct than medium-standard townhouses. Overall, construction costs reflect a trend in which urban centers like London and Manchester have the highest average residential building construction costs in the UK. What is the price of a newly built home in the United Kingdom? Over the past decade, house prices have generally increased, reflecting a steady upward trend in the housing market. By the end of 2023, the average price of a newly built house in the UK amounted to nearly ******* British pounds. However, this represented a slight dip compared to the previous quarter, which recorded the highest average house prices since 2013. These trends suggest that the rise in housing costs will continue in the long-term, even if prices fluctuate slightly in certain quarters.