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.

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.

Key information about House Prices Growth

• Spain house prices grew 12.3% YoY in Sep 2025, following an increase of 11.9% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 2002 to Sep 2025, with an average growth rate of -10.5%.
• House price data reached an all-time high of 21.0% in Sep 2004 and a record low of -11.7% in Apr 2013.

CEIC calculates House Prices Growth from monthly House Price Index. Tinsa provides House Price Index with base 2001=1000.

Key information about House Prices Growth

• Indonesia house prices grew 0.8% YoY in Sep 2025, following an increase of 0.9% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2003 to Sep 2025, with an average growth rate of 7.4%.
• House price data reached an all-time high of 13.5% in Sep 2013 and a record low of 0.8% in Sep 2025.

CEIC calculates House Prices Growth from quarterly Residential Property Price Index. Bank Indonesia provides Residential Property Price Index with base 2018=100. House Prices Growth covers 18 major cities. House Prices Growth prior to Q1 2019 is calculated from House Price Index with base 2002=100. House Prices Growth prior to Q1 2013 covers 14 major cities.

Purpose and brief description The house price index measures the inflation in the residential property market. The house price index reflects price developments for all residential properties purchased by households (apartments, terraced houses, detached houses), regardless of whether they are new or existing. Only market prices are taken into account, so self-build homes are excluded. The price of the land is included in the price of the properties. Population Real estate transactions involving residential properties Periodicity Quarterly. Release calendar Results available 3 months after the reference period Definitions House price index: The house price index measures changes in the prices of new or existing dwellings, regardless of their use or previous owner. Inflation - house price index: Inflation is defined as the ratio between the value of a given quarter and that of the same quarter of the previous year. Weighting - house price index: Weighting based on the national accounts (gross fixed capital formation in housing) and the total number of real estate transactions involving residential properties. Type of dwelling according to the classification set out in Regulation (EU) No 93/2013 on housing price indices. Technical information The house price index measures the price evolution of real estate prices on the market of private property. The index follows price changes of new or existing residential real estate purchased by households, irrespective of their purpose (letting or owner-occupying). Only market prices are taken into account. Houses built by their owners are therefore not included. The price of the building plot is included in the house price. The house price index is based on real estate transaction data from the General Administration of the Patrimonial Documentation of the FPS Finances. The prices used are those included in the deeds of sale. Given the time between the date on which the preliminary sales agreement is signed and the date on which the deed is executed (between three and four months), this index measures the price evolution with a delay compared to the actual date on which the sales price is set. This delay is inherent to the data source. The house price index is calculated by the European Union Member States, Norway and Iceland. Eurostat calculates the index for the Euro area (as well as for the European Union as a whole) using the harmonised indices of the Member States. Given the role of the housing market in the economic and financial crisis of 2008, the house price index was included in the indicators used in the procedure to prevent and correct macroeconomic imbalances in the European Union. The house price index is calculated under the European Regulation 2016/792 on harmonised indices of consumer prices and the house price index and 2023/1470 laying down the methodological and technical specifications as regards the house price index and the owner-occupied housing price index. Data are available from 2005 onward for Belgium as well as for the European Union and the majority of European countries. The house price index can be broken down by new houses and existing houses. The weights of these two items in the overall index are determined by the gross fixed capital formation in houses (for the new houses) and the total value of transactions of the previous year (for the existing houses). Until 2013, the house price index of new houses was roughly estimated based on the output price index in the construction sector. Since 2014, it is also based on real estate transaction data. House price index for existing houses is available per region since 2010. The data have therefore been completely reviewed when the results for the fourth quarter of 2023 were published in March 2024. Since the houses that are put up for sale differ from one quarter to another, the changes in characteristics are processed with hedonic regression models to eliminate price fluctuations due to changes in characteristics of the properties sold. These models aim to estimate the theoretical price based on the characteristics and location of the houses sold. The index is then calculated based on changes in the average prices observed and adjusted by a factor depending on the differences in quality observed between dwellings sold during the different periods.

Key information about House Prices Growth

• Netherlands house prices grew 11.5% YoY in Jan 2025, following an increase of 10.9% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1996 to Jan 2025, with an average growth rate of 4.7%.
• House price data reached an all-time high of 20.9% in Jan 2022 and a record low of -9.6% in Jan 2013.

CEIC calculates House Prices Growth from monthly House Price Index. 2.Statistics Netherlands provides House Price Index with base 2020=100.

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q2 2025 about sales, housing, and USA.

The U.S. housing market has slowed, after ** consecutive years of rising home prices. In 2021, house prices surged by an unprecedented ** percent, marking the highest increase on record. However, the market has since cooled, with the Freddie Mac House Price Index showing more modest growth between 2022 and 2024. In 2024, home prices increased by *** percent. That was lower than the long-term average of *** percent since 1990. Impact of mortgage rates on homebuying The recent cooling in the housing market can be partly attributed to rising mortgage rates. After reaching a record low of **** percent in 2021, the average annual rate on a 30-year fixed-rate mortgage more than doubled in 2023. This significant increase has made homeownership less affordable for many potential buyers, contributing to a substantial decline in home sales. Despite these challenges, forecasts suggest a potential recovery in the coming years. How much does it cost to buy a house in the U.S.? In 2023, the median sales price of an existing single-family home reached a record high of over ******* U.S. dollars. Newly built homes were even pricier, despite a slight decline in the median sales price in 2023. Naturally, home prices continue to vary significantly across the country, with West Virginia being the most affordable state for homebuyers.

India's residential house prices - quarterly and annual changes in house prices across cities, expert analysis and comparison with global peers.

Key information about House Prices Growth

• Hungary house prices grew 18.3% YoY in Jun 2025, following an increase of 16.3% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2008 to Jun 2025, with an average growth rate of 11.8%.
• House price data reached an all-time high of 24.9% in Jun 2022 and a record low of -7.8% in Dec 2009.

CEIC calculates House Prices Growth from quarterly House Price Index. Hungarian Central Statistical Office provides House Price Index with base 2015=100.

Key information about House Prices Growth

• Poland house prices grew 1.3% YoY in Sep 2025, following an increase of 3.6% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Dec 2006 to Sep 2025, with an average growth rate of -0.3%.
• House price data reached an all-time high of 58.5% in Sep 2007 and a record low of -8.9% in Mar 2013.

CEIC calculates House Prices Growth from quarterly House Price Index. Narodowy Bank Polski provides House Price Index with base Same Quarter Previous Year=100. House Prices Growth covers 7 cities only - Gdansk, Gdynia, Lodz, Krakow, Poznan, Warsaw and Wroclaw.

Key information about House Prices Growth

• Italy house prices grew 3.9% YoY in Jun 2025, following an increase of 4.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2011 to Jun 2025, with an average growth rate of -0.5%.
• House price data reached an all-time high of 5.2% in Jun 2022 and a record low of -7.1% in Mar 2013.

CEIC calculates House Prices Growth from quarterly House Price Index. Italian National Institute of Statistics provides House Price Index with base 2015=100.

House Price Index YoY in Sweden remained unchanged at 1 percent in October. This dataset includes a chart with historical data for Sweden House Price Index YoY.

Poland - House price index was 4.70% in June of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Poland - House price index - last updated from the EUROSTAT on December of 2025. Historically, Poland - House price index reached a record high of 18.00% in March of 2024 and a record low of -5.60% in March of 2013.

The house price index (HPI) in Spain has increased steadily since 2013, reaching a 10-year record value in 2023. In that year, the HPI reached a value of 167.33 index points for newly built and 144.19 index points for existing homes, meaning that house prices for new construction have risen faster than for existing homes. An index value of 160 suggests that house prices have risen by 60 percent since 2015 - the base year of the index. Catalonia, the Balearic Islands and Madrid were the Spanish regions where prices of both new and existing housing have risen the most in recent years.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

Housing Index in Jordan decreased to 104.30 points in the third quarter of 2021 from 105.40 points in the second quarter of 2021. This dataset provides - Jordan Building Permits - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Mexico House Prices: YoY: MD: Matamoros data was reported at 7.300 % in Mar 2019. This stayed constant from the previous number of 7.300 % for Dec 2018. Mexico House Prices: YoY: MD: Matamoros data is updated quarterly, averaging 5.300 % from Mar 2006 (Median) to Mar 2019, with 53 observations. The data reached an all-time high of 13.800 % in Sep 2015 and a record low of 0.600 % in Mar 2013. Mexico House Prices: YoY: MD: Matamoros data remains active status in CEIC and is reported by Federal Mortgage Society. The data is categorized under Global Database’s Mexico – Table MX.EB011: House Price Index: by Municipality and Delegation: 2017=100: Year on Year Growth.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

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.