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 June 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 average house price in Wales has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2023 chosen as a base year when the index value is set to 100. In May 2025, the house price index reached 103.8 index points, meaning that house prices have grown by 3.8 percent since January 2023 and 5.1 percent since May 2024. Among the different regions in the UK, the West and East Midlands experienced the strongest growth.

Housing Index in the United Kingdom increased to 517.10 points in October from 514.20 points in September of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The monthly house price index in London has increased since 2015, albeit with fluctuation. In August 2025, the index reached 99.1, which is a slight decrease from the same month in 2024. Nevertheless, prices widely varied in different London boroughs, with Kensington and Chelsea being the priciest boroughs for an apartment purchase.

Affordability ratios calculated by dividing house prices by gross annual residence-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.

The house price index in London reached 99.1 index points in May 2025, which was an increase of 2.2 percent year on year. 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 2023. Average house prices in Londnon 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 120 index points in May 2025, ranking it among the regions with the highest property appreciation. The UK house price index stood at 103 index points, suggesting an increase of 51 percent since 2015.

After a period of rapid increase, house price growth in the UK has moderated. In 2025, house prices are forecast to increase by ****percent. Between 2025 and 2029, the average house price growth is projected at *** percent. According to the source, home building is expected to increase slightly in this period, fueling home buying. On the other hand, higher borrowing costs despite recent easing of mortgage rates and affordability challenges may continue to suppress transaction activity. Historical house price growth in the UK House prices rose steadily between 2015 and 2020, despite minor fluctuations. In the following two years, prices soared, leading to the house price index jumping by about 20 percent. As the market stood in April 2025, the average price for a home stood at approximately ******* British pounds. Rents are expected to continue to grow According to another forecast, the prime residential market is also expected to see rental prices grow in the next five years. Growth is forecast to be stronger in 2025 and slow slightly until 2029. The rental market in London is expected to follow a similar trend, with Outer London slightly outperforming Central London.

The average house price in Northern Ireland has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2023 chosen as a base year when the index value was set to 100. In May 2025, the house price index reached 113.9, meaning that house prices have grown by nearly 14 percent since January 2023 and 9.5 percent since the same month a year ago. Among the different regions in the UK, the West and East Midlands experienced the strongest growth.

Affordability ratios calculated by dividing house prices by gross annual workplace-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.

this dataset shows the average price of houses and their year % change for April2011 to April2012. Data is displayed at the Euro region for England and Wales. Dat was sourced from the land registry (http://www.landregistry.gov.uk/public/house-prices-and-sales) and combined with data released under the OS Open data agreement. GIS vector data. This dataset was first accessioned in the EDINA ShareGeo Open repository on 2012-06-29 and migrated to Edinburgh DataShare on 2017-02-21.

The average house price in Scotland has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with January 2023 chosen as a base year when the index value was set to 100. In May 2025, the index reached 109.3, suggesting a house price growth of 6.4 percent since May 2024 and 9.3 percent since 2023. Among the different regions in the UK, the West and East Midlands experienced the strongest growth.

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.

United Kingdom HPI: Qtr: New Properties: UK data was reported at 378.463 1Q1993=100 in Sep 2018. This records an increase from the previous number of 374.380 1Q1993=100 for Jun 2018. United Kingdom HPI: Qtr: New Properties: UK data is updated quarterly, averaging 115.638 1Q1993=100 from Dec 1973 (Median) to Sep 2018, with 180 observations. The data reached an all-time high of 379.288 1Q1993=100 in Dec 2017 and a record low of 17.993 1Q1993=100 in Dec 1973. United Kingdom HPI: Qtr: New Properties: UK data remains active status in CEIC and is reported by Nationwide. The data is categorized under Global Database’s United Kingdom – Table UK.EB005: House Price Index: Nationwide.

Construction Output Price Indices (OPIs) from January 2014 to September 2025, UK. Summary

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 ******* British pounds, up from ******* 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.

EU UK: HICP: Weights: Housing, Water, Electricity, Gas & Other Fuels data was reported at 133.000 Per 1000 in 2018. This records an increase from the previous number of 117.000 Per 1000 for 2017. EU UK: HICP: Weights: Housing, Water, Electricity, Gas & Other Fuels data is updated yearly, averaging 126.000 Per 1000 from Dec 1996 (Median) to 2018, with 23 observations. The data reached an all-time high of 144.000 Per 1000 in 2012 and a record low of 103.000 Per 1000 in 2004. EU UK: HICP: Weights: Housing, Water, Electricity, Gas & Other Fuels data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s UK – Table UK.Eurostat: Harmonized Index of Consumer Price: Weights .

This data sets out levels of support with housing costs, known as the Local Housing Allowance (LHA) rate, for 2013-14, 2014-15, 2015-16, 2016-17, 2017-18, 2019-19, 2019-20, 2020-21 and 2021-22. The Allowance is set for different property sizes in each Broad Rental Market Area, or BRMA. These are not the same as county or district areas. You can find out more about BRMAs here. The Valuation Office Agency (VOA) completes a six-monthly survey of private rents across England which is used to set the LHA rates. However in 2016-17, many rates were frozen at 2015-16 levels due to national austerity measures. Since then, selected BRMAs have had their LHA rates adjusted, despite the general freeze. In 2020/21 rates were increased up to a set maximum to help mitigate the effects of the covid-19 pandemic, so LHAs would support a higher level rent than previously. For 2021-22 LHA rates have been held at the same level as 2020-21. The data comes from the Valuation Office Agency (VOA) and is available online at www.gov.uk. Individuals should seek advice about their individual claims from their local authority benefit team. The VOA provides a search facility to help applicants identify the relevant LHA for them. This search is based on postcode and property size and can be found at http://lha-direct.voa.gov.uk/search.aspx.