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.

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.

Key information about House Prices Growth

• UK house prices grew 1.8% YoY in Nov 2025, following an increase of 2.5% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1992 to Nov 2025, with an average growth rate of -15.9%.
• House price data reached an all-time high of 26.4% in Jan 2003 and a record low of -17.5% in Feb 2009.

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.

Average House Prices in the United Kingdom increased to 299862 GBP in October from 298215 GBP in September of 2025. This dataset includes a chart with historical data for the United Kingdom Average House Prices.

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.

United Kingdom House Price Index (HPI): Qtr: UK data was reported at 428.058 1Q1993=100 in Jun 2018. This records an increase from the previous number of 422.500 1Q1993=100 for Mar 2018. United Kingdom House Price Index (HPI): Qtr: UK data is updated quarterly, averaging 117.662 1Q1993=100 from Dec 1973 (Median) to Jun 2018, with 179 observations. The data reached an all-time high of 428.058 1Q1993=100 in Jun 2018 and a record low of 19.485 1Q1993=100 in Dec 1973. United Kingdom House Price Index (HPI): Qtr: UK data remains active status in CEIC and is reported by Nationwide. The data is categorized under Global Database’s UK – Table UK.EB005: House Price Index: Nationwide.

United Kingdom House Price: Qtr: UK: Adjusted for Inflation data was reported at 214,578.383 GBP in Jun 2018. This records an increase from the previous number of 211,792.212 GBP for Mar 2018. United Kingdom House Price: Qtr: UK: Adjusted for Inflation data is updated quarterly, averaging 60,170.285 GBP from Mar 1975 (Median) to Jun 2018, with 174 observations. The data reached an all-time high of 214,578.383 GBP in Jun 2018 and a record low of 10,387.877 GBP in Mar 1975. United Kingdom House Price: Qtr: UK: Adjusted for Inflation data remains active status in CEIC and is reported by Nationwide. The data is categorized under Global Database’s UK – Table UK.P001: House Price: Nationwide.

House Price Index YoY in the United Kingdom increased to 1.90 percent in October from 1.30 percent in September of 2025. This dataset includes a chart with historical data for the United Kingdom House Price Index YoY.

Key information about House Prices Growth

• EU house prices grew 5.4% YoY in Jun 2025, following an increase of 5.7% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2006 to Jun 2025, with an average growth rate of 2.6%.
• House price data reached an all-time high of 11.2% in Dec 2006 and a record low of -4.8% in Jun 2009.

United Kingdom Average House Prices: England: North East data was reported at 134,545.000 GBP in May 2020. This records an increase from the previous number of 127,761.000 GBP for Apr 2020. United Kingdom Average House Prices: England: North East data is updated monthly, averaging 123,135.000 GBP from Jan 2005 (Median) to May 2020, with 185 observations. The data reached an all-time high of 139,400.000 GBP in Jul 2007 and a record low of 110,454.000 GBP in Feb 2005. United Kingdom Average House Prices: England: North East data remains active status in CEIC and is reported by HM Land Registry. The data is categorized under Global Database’s United Kingdom – Table UK.EB016: Average House Prices: HM Land Registry.

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.

United Kingdom House Price: Qtr: First Time Buyer: Outer Met data was reported at 286,001.028 GBP in Jun 2018. This records a decrease from the previous number of 287,680.911 GBP for Mar 2018. United Kingdom House Price: Qtr: First Time Buyer: Outer Met data is updated quarterly, averaging 100,707.966 GBP from Mar 1983 (Median) to Jun 2018, with 142 observations. The data reached an all-time high of 287,680.911 GBP in Mar 2018 and a record low of 29,106.525 GBP in Mar 1983. United Kingdom House Price: Qtr: First Time Buyer: Outer Met data remains active status in CEIC and is reported by Nationwide. The data is categorized under Global Database’s UK – Table UK.P001: House Price: Nationwide.

The UK House Price Index (UK HPI) captures changes in the value of residential properties. The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. For more information, please read the Land Registry's documentation: https://www.gov.uk/government/publications/about-the-uk-house-price-index/about-the-uk-house-price-index From February 2025, the UK House Price Index has been re-referenced from January 2015 to January 2023. Historical data from 1995 onwards has also been revised to align with this update. These changes reflect market shifts, including an increase in sales of smaller properties and fewer sales in higher-value areas like London. For more details, see the UK HPI publication for more information - https://www.gov.uk/government/collections/uk-house-price-index-reports

According to the forecast, the North West and Yorkshire & the Humber are the UK regions expected to see the highest overall growth in house prices over the five-year period between 2025 and 2029. Just behind are the North East and West Midlands. In London, house prices are expected to rise by **** percent.

House prices in England have increased notably in the last 10 years, despite a slight decline in 2023. In December 2024, London retained its position as the most expensive regional market, with the average house price at ******* British pounds. According to the UK regional house price index, Northern Ireland saw the highest increase in house prices since 2023.

🇬🇧 영국 English The UK House Price Index (UK HPI) captures changes in the value of residential properties. The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. For more information, please read the Land Registry's documentation: https://www.gov.uk/government/publications/about-the-uk-house-price-index/about-the-uk-house-price-index From February 2025, the UK House Price Index has been re-referenced from January 2015 to January 2023. Historical data from 1995 onwards has also been revised to align with this update. These changes reflect market shifts, including an increase in sales of smaller properties and fewer sales in higher-value areas like London. For more details, see the UK HPI publication for more information - https://www.gov.uk/government/collections/uk-house-price-index-reports

United Kingdom Average House Prices: England: North West data was reported at 168,261.000 GBP in May 2020. This records an increase from the previous number of 167,685.000 GBP for Apr 2020. United Kingdom Average House Prices: England: North West data is updated monthly, averaging 137,256.000 GBP from Jan 2005 (Median) to May 2020, with 185 observations. The data reached an all-time high of 168,261.000 GBP in May 2020 and a record low of 117,630.000 GBP in Feb 2005. United Kingdom Average House Prices: England: North West data remains active status in CEIC and is reported by HM Land Registry. The data is categorized under Global Database’s United Kingdom – Table UK.EB016: Average House Prices: HM Land Registry.

united kingdom - House Price Index in the United Kingdom was 37.30000 Index Jan 2015=100 in March of 2025, according to the United States Federal Reserve. Historically, united kingdom - House Price Index in the United Kingdom reached a record high of 41.10000 in June of 2000 and a record low of 30.00000 in February of 2010. Trading Economics provides the current actual value, an historical data chart and related indicators for united kingdom - House Price Index in the United Kingdom - last updated from the United States Federal Reserve on December of 2025.