Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

This table shows the average House Price/Earnings ratio, which is an important indicator of housing affordability. Ratios are calculated by dividing house price by the median earnings of a borough. The Annual Survey of Hours and Earnings (ASHE) is based on a 1 per cent sample of employee jobs. Information on earnings and hours is obtained in confidence from employers. It does not cover the self-employed nor does it cover employees not paid during the reference period. Information is as at April each year. The statistics used are workplace based full-time individual earnings. Pre-2013 Land Registry housing data are for the first half of the year only, so that they are comparable to the ASHE data which are as at April. This is no longer the case from 2013 onwards as this data uses house price data from the ONS House Price Statistics for Small Areas statistical release. Prior to 2006 data are not available for Inner and Outer London. The lowest 25 per cent of prices are below the lower quartile; the highest 75 per cent are above the lower quartile. The "lower quartile" property price/income is determined by ranking all property prices/incomes in ascending order. The 'median' property price/income is determined by ranking all property prices/incomes in ascending order. The point at which one half of the values are above and one half are below is the median. Regional data has not been published by DCLG since 2012. Data for regions has been calculated by the GLA. Data since 2014 has been calculated by the GLA using Land Registry house prices and ONS Earnings data. Link to DCLG Live Tables An interactive map showing the affordability ratios by local authority for 2013, 2014 and 2015 is also available.

Amsterdam is set to maintain its position as Europe's most expensive city for apartment rentals in 2025, with median costs reaching 2,500 euros per month for a furnished unit. This figure is double the rent in Prague and significantly higher than other major European capitals like Paris, Berlin, and Madrid. The stark difference in rental costs across European cities reflects broader economic trends, housing policies, and the complex interplay between supply and demand in urban centers. Factors driving rental costs across Europe The disparity in rental prices across European cities can be attributed to various factors. In countries like Switzerland, Germany, and Austria, a higher proportion of the population lives in rental housing. This trend contributes to increased demand and potentially higher living costs in these nations. Conversely, many Eastern and Southern European countries have homeownership rates exceeding 90 percent, which may help keep rental prices lower in those regions. Housing affordability and market dynamics The relationship between housing prices and rental rates varies significantly across Europe. As of 2024, countries like Turkey, Iceland, Portugal, and Hungary had the highest house price to rent ratio indices. This indicates a widening gap between property values and rental costs since 2015. The affordability of homeownership versus renting differs greatly among European nations, with some countries experiencing rapid increases in property values that outpace rental growth. These market dynamics influence rental costs and contribute to the diverse rental landscape observed across European cities.

FOCUSON**LONDON**2011: HOUSING:A**GROWING**CITY

With the highest average incomes in the country but the least space to grow, demand for housing in London has long outstripped supply, resulting in higher housing costs and rising levels of overcrowding. The pressures of housing demand in London have grown in recent years, in part due to fewer people leaving London to buy homes in other regions. But while new supply during the recession held up better in London than in other regions, it needs to increase significantly in order to meet housing needs and reduce housing costs to more affordable levels.

This edition of Focus on London authored by James Gleeson in the Housing Unit looks at housing trends in London, from the demand/supply imbalance to the consequences for affordability and housing need.

REPORT:

Read the report in PDF format.

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PRESENTATION:

How much pressure is London’s popularity putting on housing provision in the capital? This interactive presentation looks at the effect on housing pressure of demographic changes, and recent new housing supply, shown by trends in overcrowding and house prices. Click on the start button at the bottom of the slide to access.

View Focus on London - Housing: A Growing City on Prezi

HISTOGRAM:

This histogram shows a selection of borough data and helps show areas that are similar to one another by each indicator.

Histogram

MOTION CHART:

This motion chart shows how the relationship, between key housing related indicators at borough level, changes over time.

Motion Chart

MAP:

These interactive borough maps help to geographically present a range of housing data within London, as well as presenting trend data where available.

MAP

DATA:

All the data contained within the Housing: A Growing City report as well as the data used to create the charts and maps can be accessed in this spreadsheet.

FACTS:

Some interesting facts from the data…

● Five boroughs with the highest proportion of households that have lived at their address for less than 12 months in 2009/10:

1. Westminster – 19 per cent
2. Wandsworth – 17 per cent
3. Camden – 16 per cent
4. Lambeth – 14 per cent
5. Southwark – 13 per cent

-31. Harrow – 6 per cent

-32. Havering – 5 per cent

● Five boroughs with the highest percentage point increase between 2004 and 2009 of households in the ‘private rented’ sector:

1. Newham – 17 per cent
2. Greenwich – 11 per cent
3. Enfield – 10 per cent
4. Camden – 9 per cent
5. Harrow – 8 per cent

-32. Islington – 1 per cent

-33. Bexley – 1 per cent

● Five boroughs with the highest percentage difference in median house prices between 2007 Q4 and 2010 Q4:

1. Kensington & Chelsea – 29 per cent
2. Westminster – 19 per cent
3. Camden – 15 per cent
4. Islington – 14 per cent
5. Southwark – 10 per cent

-31. Newham – down 9 per cent

-32. Barking & D’ham – down 9 per cent

Transaction data gives numbers of applications for first registrations, leases, transfers of part, dealings, official copies and searches lodged with HM Land Registry by account holders in the preceding month. The information is divided into data showing all applications lodged, transactions for value, by region and local authority district. Transactions for value include freehold and leasehold sales.

The data published on this page gives you information about the number and types of applications. The data reflects the volume of applications lodged by customers using an HM Land Registry account number on their application form. The data does not include applications that are not yet completed, or were withdrawn.

Content

This dataset has been altered from its original format. Specifically, the monthly files have been aggregated and columns whose names changed over time have been merged to use the current title. Some acronyms that will be helpful to know while reading the column names, per the documentation:

Acronym Title Description

DFL Dispositionary first lease An application for the registration of a new lease granted by the proprietor of registered land

DLG Dealing An application in respect of registered land. This includes transfers of title, charges and notices

FR First registration An application for a first registration of land both freehold and leasehold. For leasehold this applies when the landlord’s title is not registered

TP Transfer of part An application to register the transfer of part of a registered title

OS(W) Search of whole An application to protect a transaction for value, such as purchase, lease or charge for the whole of a title

OS(P) Search of part An application to protect a transaction for value, such as purchase, lease or charge for part of a title

OS(NPW) Non-priority search of whole An application to search the whole of the register without getting priority

OS(NPP) Non-priority search of part An application to search a part of the register without getting priority

OC1 Official copy An application to obtain an official copy of a register or title plan represents a true record of entries in the register and extent of the registered title at a specific date and time. The data includes historical editions of the register and title plan where they are kept by the registrar in electronic form

OC2 Official copy of a deed or document An application to obtain a copy of a document referred to in the register or relates to an application. This includes correspondence, surveys, application forms and emails relating to applications that are pending, cancelled or completed

SIM Search of the index map An application to find out whether or not land is registered and, if so, to obtain the title number

Acknowledgements

This data was kindly released by HM Land Registry under the Open Government License 3.0. You can find their current release here.

Inspiration

-What does this dataset tell us about the HM Land Registry's records of housing Prices Paid? Are searches a leading indicator of price changes?

This is a 10-metre pixel data set representing the land surface, classified into 21 UKCEH land cover classes, based upon Biodiversity Action Plan broad habitats. The pixel product is given as a two-band raster in geoTiff format. The first band gives the most likely land cover type; the second band gives the probability associated with this land cover. The probability layer is an indicator of uncertainty (0 to 100). Low values correspond to low certainty (higher uncertainty). This is the first 10m resolution land cover map produced by UKCEH. It succeeds 20m resolution classified pixel products from 2017, 2018 and 2019. A full description of this and all UKCEH LCM2020 products are available from the product documentation accompanying this data. Full details about this dataset can be found at https://doi.org/10.5285/35c7d0e5-1121-4381-9940-75f7673c98f7

Data relating to the price of houses sold in the Glasgow Area from the years 1991 - 2013.Some elements of the dataset are derived from information produced by Registers of ScotlandCLASS Administrative Classification onlySTNO Street NumberSTnu Street NumberFLATPOSN Flat PositionSTNAME Street NamePOSTCODE Post CodeMONTH OF SALE Month of SaleYEAR OF SALE (CALENDAR) YEAR OF SALE (CALENDAR)YEAR OF SALE (BUSINESS) YEAR OF SALE (BUSINESS)MONTH AND YEAR MONTH AND YEARQUARTER_(CALENDAR) QUARTER_(CALENDAR)ACTUAL PRICE AT POINT OF SALE Actual Price RPI Retail Price Index - Published every month and available for the last 20 yearsDEFLATOR Figure used to to determine change in house prices over time - calculated fromthe Retail Price Index and other dataPRICE CONSTANT AT July 2013 Actual Price multiplied by the Deflator. This is the price if RPI is applied to original sale price - How much would the property be valued at now. ORIGINOFBUY Council area or Country where the buyer comes fromOMIT OR USE Oroginal data also included retail and commercial data. - Not reproduced hereNEWBUILD OR RESALE Is it a newbuild house or a resaleLHF Local Housing Forum Area

This data contributes towards a clear picture of all planning and land designations. Being an asset of community value does not place any restriction on what an owner can do with their property, but some LPAs may decide (through planning policy), that listing as an asset of community value is a material consideration if an application for change of use is submitted, considering all the circumstances of the case. Listing an asset of community value is also a Local Land Charge, which is a restriction or financial claim on a property or piece of land, and is an important consideration during the selling of a property or piece of land.