The Halifax house price index, which was set at 100 in 1992, reached a value of more than 500 over the course of 2022. In December 2023, the index stood at 495.1, which was as slight increase from the same period in 2022. The average house price amounted to about 287,000 British pounds in December 2023. What drives house prices? Average house prices are affected by several factors: Economic growth, unemployment, interest rates and mortgage availability can all affect average prices. A shortage of supply means that the need for housing and, therefore competitive market created will push up house prices, whereas an excess of housing means prices fall to stimulate buyers. One of the main reasons for the decrease in house prices in the second half of 2022 was interest rates rising as a response to inflation. How many house sales occur per year? In the United Kingdom (UK), there are approximately one million residential property transactions annually. On a country level, England constitutes the majority of transactions made.

The house price index (HPI) shows changes in the value of residential properties in England, Scotland, Wales, and Northern Ireland. With the HPI set at a base of 100 in January 2023, a value of over 100 would mark an increase in the average dwelling price. A value of under 100 points, on the other hand, would indicate that the average price has dropped. In April 2025, the index measured 101.7 index points, showing an increase of 1.7 percent since January 2023. UK house prices grew rapidly during the COVID-19 pandemic House prices in the UK grew steadily between 2015 and 2020, fueled by stable economic growth and low borrowing costs. In the following two years, a combination of factors exacerbated this trend. These factors included a stamp duty holiday, low interest rates, a shortage of new homes supplied, and a high housing demand. As a result, house price growth soared, hitting a record 13.6 percent in July 2022. This trend in the index, and therefore the value of UK residential properties, has also been observed by the Halifax house price index. What is the average house price in the UK? Average house prices are affected by several factors. Economic growth, unemployment, interest rates and mortgage availability can all drive them up or down. A shortage of supply means that the need for housing and the competitive market created will push house prices up. An excess of housing, on the other hand, means prices fall to stimulate buyers.

House Price Index MoM in the United Kingdom increased to 0.40 percent in July from 0.10 percent in June of 2025. This dataset includes a chart with historical data for the United Kingdom House Price Index MoM.

Housing Index in the United Kingdom increased to 514.30 points in July from 512.40 points in June of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Halifax House Price Index YoY measures the annual percentage change in house prices in the UK, based on data from Halifax, one of the country's largest mortgage lenders.

This statistic shows the average price of new flats and maisonettes in the United Kingdom (UK) from the first quarter of 2011 to the fourth quarter of 2015, according to the Halifax house price index. In the quarter ending June 2015, the average price of a new flat or maisonette amounted to 330.8 thousand British pounds (GBP).

The Halifax House Price Index MoM measures the monthly change in house prices in the UK, based on data from Halifax, one of the country's largest mortgage lenders.

This statistic shows the average price of bungalows in the United Kingdom (UK) from the first quarter of 2011 to the fourth quarter of 2015, according to the Halifax house price index. The average price for a bungalow amounted to nearly 233.4 thousand British pounds (GBP) in the quarter ending June 2015.

House Price Index YoY in the United Kingdom decreased to 2.40 percent in July from 2.70 percent in June of 2025. This dataset includes a chart with historical data for the United Kingdom House Price Index YoY.

This statistic shows the average house prices in rural and urban areas in the United Kingdom (UK) from September 2012 to August 2013. In the 12 months to August 2013, a rural house in Great Britain cost on average 206,423 British pounds (GBP) in comparison with an urban house that cost 182,710 GBP during the same period.

This statistic shows the average house price of a terraced house built between 1919 and 1945 in the United Kingdom (UK) from the first quarter of 2011 to the fourth quarter of 2015. In the quarter ending June 2015, the average price was 224,567 British pounds (GBP).

This statistic shows the average price of residential properties built between 1919 and 1945 in the United Kingdom (UK) from the first quarter of 2011 to the fourth quarter of 2015, according to the Halifax house price index.The average price of residential property from that period for the second quarter of 2015 was 258 thousand British pounds (GBP).

This statistic shows the average price of previously owned residential properties built after 1960 in the United Kingdom (UK) from the first quarter of 2011 the to fourth quarter of 2014, according to the Halifax house price index. In the second quarter of 2015, the average price of real estate property from that period was around 223.6 thousand British pounds (GBP). This statistic includes the following residential property types: terraced, semi-detached, detached, bungalows, and flats and maisonettes.

This statistic shows the average price of residential properties built between 1946 and 1960 in Greater London (United Kingdom) from the first quarter of 2012 to the fourth quarter of 2015, according to the Halifax house price index. Throughout that period, the prices noted a stable growth. In the fourth quarter of 2014, the average price of a residential property built in that period in Greater London reached nearly 313 thousand British pounds (GBP). By the end of the fourth quarter of 2015, the prices of such properties amounted to 364.1 thousand GBP.

This statistic shows the average price of a semi-detached house built between 1919 and 1945 in the United Kingdom (UK) from the first quarter of 2011 to the fourth quarter of 2015, according to the Halifax house price index. In the second quarter of 2015, the average price for a semi-detached house was 239,054 British pounds (GBP).

This statistic shows the average price of terraced houses built between 1946 and 1960 in Greater London (United Kingdom) from the first quarter of 2011 to the fourth quarter of 2015, according to the Halifax house price index. In the second quarter ending of 2014, the average price of a terraced house from that period in Greater London was 277 thousand British pounds (GBP). By 2015, this price has increased and reached the level of around 354 thousand British pounds in the fourth quarter of 2015.

For the past decade, buying a home in the UK has been more affordable than renting one, when only considering the monthly costs. The renting versus buying gap fluctuated during the period and in 2016, it reached its highest value of 131 British pounds. In 2023, the monthly costs for a first-time buyer were 1,231 British pounds, compared to 1,258 British pounds for renters. Rental growth vs house price growth Housing costs in the UK have been on an uprise, with both renting and buying a home increasingly unreachable. Though the monthly costs of buying have consistently been lower in the past decade, house price growth has been much stronger than rental growth since the beginning of the pandemic. Additionally, buyers have been affected by the aggressive mortgage rate hikes, making acquiring their first home even less affordable. Barriers to homeownership Buying a home is not straightforward. For younger (18-40) potential first-time buyers, there are a number of barriers. Approximately one in three first-time buyers point out that raising a deposit was the main obstacle. Other reasons stopping buyers were not being able to take out a mortgage on their current income and poor credit ratings. Unsurprisingly, the highest share of people who buy a home with a mortgage was in the age group of 45 to 55-year-olds.

The 10 largest mortgage lenders in the United Kingdom accounted for approximately 83 percent of the total market, with the top three alone accounting for 48 percent in 2024. Lloyds Banking Group had the largest market share of gross mortgage lending, with nearly 47 billion British pounds in lending in 2024. HSBC, which is the largest UK bank by total assets, ranked fifth. Development of the mortgage market In 2024, the value of outstanding in mortgage lending to individuals amounted to 1.6 trillion British pounds. Although this figure has continuously increased in the past, the UK mortgage market declined dramatically in 2024, registering the lowest value of mortgage lending since 2015. In 2020, the COVID-19 pandemic caused the market to contract for the first time since 2012. The next two years saw mortgage lending soar due to pent-up demand, but as interest rates soared, the housing market cooled, leading to a decrease in new loans of about 100 billion British pounds. The end of low interest rates In 2021, mortgage rates saw some of their lowest levels since recording began by the Bank of England. For a long time, this was particularly good news for first-time homebuyers and those remortgaging their property. Nevertheless, due to the rising inflation, mortgage rates started to rise in the second half of the year, resulting in the 10-year rate doubling in 2022.

This statistic shows the average price of flats and maisonettes in the Greater London (United Kingdom) from the first quarter of 2012 to the fourth quarter of 2015, according to the Halifax house price index. In the fourth quarter of 2014, the average price of a flat or maisonettes in Greater London was 329.9 thousand British pounds (GBP). By the end of the fourth quarter of 2015, the price increased to 385.3 thousand GBP.