Just as in many other countries, the housing market in the UK grew substantially during the coronavirus pandemic, fueled by robust demand and low borrowing costs. Nevertheless, high inflation and the increase in mortgage rates has led to house price growth slowing down. According to the forecast, 2024 is expected to see house prices decrease by three percent. Between 2024 and 2028, the average house price growth is projected at 2.7 percent. A contraction after a period of continuous growth In June 2022, the UK's house price index exceeded 150 index points, meaning that since 2015 which was the base year for the index, house prices had increased by 50 percent. In just two years, between 2020 and 2022, the index surged by 30 index points. As the market stood in December 2023, the average price for a home stood at approximately 284,691 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 years. Growth is forecast to be stronger in 2024 and slow down in the period between 2025 and 2028. The rental market in London is expected to follow a similar trend, with Central London slightly outperforming Greater London.

The mortgage market in the UK declined in 2023, with the value of mortgage lending plummeting by nearly 100 billion British pounds from the previous year. That was because of the dramatic increase in mortgage interest, which made borrowing much more expensive. In 2023, gross lending to individuals totaled 225.1 billion British pounds.

This statistic shows the 12-month development of the Prime Central London Index for Central London's prime property sales on the residential market, between June 2014 and June 2015. Annual growth in June 2015 slowed to 2 percent from 8.1 percent a year ago.

The UK residential real estate market, valued at approximately £360.27 billion in 2025, is projected to experience robust growth, driven by several key factors. Strong population growth, particularly in urban centers, fuels consistent demand for housing, while low interest rates and government initiatives aimed at boosting homeownership further stimulate market activity. The market is segmented into apartments and condominiums, and landed houses and villas, with each segment exhibiting unique growth trajectories. Apartments and condominiums, particularly in London and other major cities, are expected to see higher demand due to affordability concerns and lifestyle preferences, while landed houses and villas continue to appeal to those seeking more space and privacy, particularly in suburban or rural areas. Competition among major developers such as Berkeley Group, Barratt Developments, and others influences pricing and construction activity. While challenges exist, such as fluctuating economic conditions and rising construction costs, the overall outlook for the UK residential real estate market remains positive. The market's performance is also influenced by broader economic factors, such as inflation and employment rates, and is likely to see regional variations, with London and the South East generally commanding higher prices. The market's growth is expected to continue through 2033, with a compound annual growth rate (CAGR) of 5.75%. This growth will likely be influenced by factors such as evolving demographic trends (including increasing urbanization and family sizes), government policies impacting the housing market, and technological advancements impacting the construction and sales processes. International investment continues to play a significant role, especially in prime London properties. However, the market is susceptible to external shocks, such as changes in interest rates or economic downturns. Understanding these factors is crucial for investors and stakeholders operating within the UK residential real estate sector. Market analysis suggests continued demand for sustainable and energy-efficient housing, influencing the development of future projects. This comprehensive report provides an in-depth analysis of the UK residential real estate market, covering the period from 2019 to 2033. With a base year of 2025 and a forecast period spanning 2025-2033, this research offers invaluable insights for investors, developers, and industry professionals seeking to navigate this dynamic market. The report leverages extensive data analysis, covering key segments, emerging trends, and major players, to provide a clear understanding of market dynamics and future growth potential. High-search-volume keywords like UK property market, UK house prices, London property market, UK residential real estate investment, build-to-rent UK, multifamily UK, and UK housing market forecast are integrated throughout to ensure maximum online visibility. Recent developments include: May 2023: A UAE-based investment manager, Rasmala Investment Bank, has launched a USD 2bn ( €1.8bn) UK multifamily strategy for a five-year period to build a USD 2bn portfolio of UK residential properties. The strategy is focused on the UK market for multifamily properties through a Shariah-compliant investment vehicle, initially targeting the serviced apartment (SAP) and BTR (build-to-rent) subsectors within and around London. Seeded by Rasmala Group, the strategy is backed by an active investment pipeline for the next 12 – 18 months., November 2022: ValuStrat, a Middle East consulting company, increased its foothold in the UK by acquiring an interest in Capital Value Surveyors, a real estate advisory services company with offices in London. The UK continues to be one of the most established real estate markets worldwide and attracts foreign investors regularly. They are excited to expand their presence there to better serve all of their clients, both in the UK and the Middle East.. 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 the United Kingdom House Prices.

The UK housing market continued to show significant regional variations in 2024, with London maintaining its position as the most expensive city for homebuyers. The average house price in the capital stood at 519,579 British pounds in October, nearly double the national average of 292,059 British pounds. However, the market dynamics are shifting, with London experiencing only a modest 0.2 percent annual increase, while other cities like Newcastle upon Tyne and Belfast saw more substantial growth of 8.8 percent and 6.8 percent respectively. Affordability challenges and market slowdown Despite the continued price growth in many cities, the UK housing market is facing headwinds. The affordability of mortgage repayments has become the biggest barrier to property purchases, with the majority of the respondents in a recent survey citing it as their main challenge. Moreover, a rising share of Brits have reported affordability as a challenge since 2021, reflecting the impact of rising house prices and higher mortgage rates. The market slowdown is evident in the declining housing transaction volumes, which have plummeted since 2021. European context The stark price differences are mirrored in the broader European context. While London boasts some of the highest property prices among European cities, a comparison of the average transaction price for new homes in different European countries shows a different picture. In 2023, the highest prices were found in Austria, Germany, and France.

The average house price in London increased slightly year-on-year as of June 2024, amid a slowdown in the UK housing market. Barking and Dagenham was the most affordable borough to buy a house, with an average price of 340,403 British pounds. Kensington and Chelsea stood at the other end of the spectrum, with an average price of 1.2 million British pounds. Nevertheless, it was also one of the boroughs where prices fell the most. Demand for housing and house prices With vastly more job and cultural opportunities, megacities continue attracting people from all over the world. Since the beginning of the 1980s, the population of London has increased by more than 2 million inhabitants and in the next 20 years, it is forecast to increase by almost 1.5 million. That makes London properties a valuable asset. Historically, property prices in London have risen steadily, albeit minor fluctuations. Residential properties transactions Since 2006, the number of residential property sales has varied between 1.7 million and 0.8 million transactions annually. The housing boom in 2021 led to an increase in home purchases, but the economic uncertainty, stubborn inflation, and dramatically higher interest rates have led to transactions falling.

This website provides interactive mapping of outstanding residential mortgage lending by postcode sector across Great Britain, as published by individual banks, via the Council of Mortgage Lenders. This first iteration of the website - published in January 2014 - uses the most recent bank lending data, which covers the period up to the end of June 2013. I hope to update the website with future data releases, if I have the time. The map is coloured so that there are roughly the same number of areas in each category displayed in the key to the right. It's important to remember that this data release covers only seven major lenders and about three quarters of the mortgage market - it is not the full story but it does give us interesting insights that were previously not possible. The release did not include mortgage lending data for Northern Ireland, so that's why it's not included here. I've included a large interactive map on the home page and if you click below that you can see a full screen map. I've also added in some tabs which show postcode sectors in and around London, Glasgow, Manchester and Cardiff but if you want to find somewhere else you can easily pan and zoom to it via the big map.

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

The Report Covers UK Residential Real Estate Market Overview and Trends. The Market is Segmented by Type (Apartments and Condominiums and Landed Houses and Villas) and by Key Regions (England, Wales, Northern Ireland, Scotland, and Other Regions).

The UK Office Real Estate Market is segmented By Key Cities (London, Birmingham, Manchester, and Other Cities). The report offers market size and forecasts in Values (USD billion) for all the above segments.

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

The Report Covers UK Commercial Property Market Forecast and Size. The Market is Segmented by Type (Office, Retail, Industrial, Logistics, Hospitality, and Multi-Family) and by Key City and Region (England, Wales, Northern Ireland, Scotland, London (City), and Rest of the United Kingdom).

Number of residential property sales in England and Wales, by property type and administrative geographies. Annual data.

Number of properties sold from Land Registry data.

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.

Relevant link: http://www.ons.gov.uk/ons/rel/regional-analysis/house-price-statistics-for-small-areas/index.html

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In September 2023, the average 10-year fixed rate interest rate reached 5.1 percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2022, reaching close to 1.3 million. Despite the number of transactions falling, this figure was higher than the period before the COVID-10 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for fourth straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About five million homeowners are projected to see their deal expire by the end of 2026. About two million of these loans are projected to experience a monthly payment increase of up to 199 British pounds by 2026.

Several of the largest new residential construction projects in the United Kingdom with a construction start date in 2024 were found in London. Planned Internal and External Refurbishment Works Programme in London was valued at 340 million British pounds. The housing construction market in London London is one of the best-known cities in the world. It is an important financial and economic centre, accounting for the highest share of GDP out of all the regions in the UK. It is also home to the West-End and the British Museum, and it boasts a vibrant cultural life. The economic importance and popularity of the city are some of the factors fostering a high demand for housing construction in London. In addition to the 14,270 housing starts in London in 2023/24, there was also a similar volume of housing completions. In comparison, the number of private housing starts in the UK as was estimated to be 150,000 in 2023. House repairs in the UK Housing repair and maintenance was one of the segments with the highest market shares in the UK construction industry. Meanwhile, new private housing construction represented 19 percent of the construction market in the country in 2023. Two of the largest repair and maintenance projects in 2023 were in London and in the county of Tyne and Wear (the county were Newcastle is located). The revenue of housing repair and maintenance in Great Britain has been increasing at a fast pace in the past years.

During the COVID-19 pandemic, the number of house sales in the UK spiked, followed by a period of decline. In 2023, the housing market slowed notably, and in September 2024, transaction volumes fell below 50,000. House sales volumes are affected by a number of factors, including mortgage rates, house prices, supply, demand, as well as the overall health of the market. The economic uncertainty and rising unemployment rates has also affected the homebuyer sentiment of Brits. How have UK house prices developed over the past 10 years? House prices in the UK have increased year-on-year since 2015, except for a brief period of decline in the second half of 2023 and the beginning of 2024. That is based on the 12-month percentage change of the UK house price index. At the peak of the housing boom in 2022, prices soared by nearly 14 percent. The decline that followed was mild, at under three percent. The cooling in the market was more pronounced in England and Wales, where the average house price declined in 2023. Conversely, growth in Scotland and Northern Ireland continued. What is the impact of mortgage rates on house sales? For a long period, mortgage rates were at record-low, allowing prospective homebuyers to take out a 10-year loan at a mortgage rate of less than three percent. In the last quarter of 2021, this period came to an end as the Bank of England rose the bank lending rate to contain the spike in inflation. Naturally, the higher borrowing costs affected consumer sentiment, urging many homebuyers to place their plans on hold and leading to a drop in sales.

This dataset contains the data used in the study titled “Is hiding my first name enough? Using behavioural interventions to mitigate racial and gender discrimination in the rental housing market”. The data was collected from the London rental housing market between 2021 and 2022. Racial and gender biases are pervasive in housing markets. Males and ethnic minorities face discrimination in rental housing markets globally. The issue has been so pronounced that it regularly makes national and international headlines. In response to a racial discrimination lawsuit, Airbnb had to hide guests’ first names from rental hosts in Oregon, USA, starting in January 2022. Yet, there is little evidence that such measurement effectively counteracts racial and gender discrimination in housing markets. Despite some well-established theoretical models developed more than half a century ago and a wealth of empirical evidence accumulated over the last two decades, studies examining effective solutions to combat discrimination remain sparse especially in housing markets. Given the complexity of the products and services involved and the relatively low frequency of transactions, nuanced studies are needed to understand how implicit racial and gender biases influence letting decisions. This study investigates housing discrimination at the intersection where longstanding market behaviours meet the evolving insights of behavioural research. Although behavioural interventions have the potential to address both statistical and taste-based discrimination in the housing market, their successful implementation remains a challenge. Given the persistent biases and socio-economic dynamics in the housing market, interventions must be carefully tailored to the context. By collecting evidence from field experiments, this research aims to gain insights into how real-world behavioural interventions can be effectively designed and implemented. Our focus remains twofold: to develop a robust theoretical framework and to translate its insights into tangible, impactful policy recommendations, with the ultimate goal of fostering a more inclusive housing market.Although China has almost eliminated urban poverty, the total number of Chinese citizens in poverty remains at 82 million, most of which are rural residents. The development of rural finance is essential to preventing the country from undergoing further polarization because of the significant potential of such development to facilitate resource interflows between rural and urban markets and to support sustainable development in the agricultural sector. However, rural finance is the weakest point in China's financial systems. Rural households are more constrained than their urban counterparts in terms of financial product availability, consumer protection, and asset accumulation. The development of the rural financial system faces resistance from both the demand and the supply sides. The proposed project addresses this challenge by investigating the applications of a proven behavioural approach, namely, Libertarian Paternalism, in the development of rural financial systems in China. This approach promotes choice architectures to nudge people into optimal decisions without interfering with the freedom of choice. It has been rigorously tested and warmly received in the UK public policy domain. This approach also fits the political and cultural background in China, in which the central government needs to maintain a firm control over financial systems as the general public increasingly demands more freedom. Existing behavioural studies have been heavily reliant on laboratory experiments. Although the use of field studies has been increasing, empirical evidence from the developing world is limited. Meanwhile, the applications of behavioural insights in rural economic development in China remains an uncharted territory. Rural finance studies on the household level are limited; evidence on the role of psychological and social factors in rural households' financial decisions is scarce. The proposed project will bridge this gap in the literature. We carried out the experiment at the UK's largest online real estate portal and property website, www.rightmove.co.uk. In 2021, Rightmove had 208 million visits per month and a total of 692,000 properties listed at their website. Therefore, the platform gives us access to the largest available database of rental property listings in the country. We searched rental properties in Greater London Area that are advertised between December 2021 and April 2022. Only houses, flats and apartments are included. All listings are handled by letting agents. No private landlords are involved. Once a property was identified as eligible for the experiment, we sent a total of five applications to the letting agent, asking for a viewing appointment. The five applicants will be from different ethnic groups (i.e., one from each of the five groups) but of the same gender. The five emails were sent with at least 12 hours in between so that no suspicious of spamming might be raised. A total of 360 properties were selected, which gives a sample size of 1,800. The sample is evenly divided between the two gender groups and the five ethnic groups. Specifically, there are 360 observations in each ethnic group and 900 observations in each gender group.

Graph and download economic data for Housing Inventory: Median Days on Market Year-Over-Year in London, KY (CBSA) (MEDDAYONMARYY30940) from Jul 2017 to Dec 2024 about London, KY, median, and USA.