Summary of UK House Price Index (HPI) price statistics covering England, Scotland, Wales and Northern Ireland. Full UK HPI data are available on GOV.UK.

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

In 2022, house price growth in the UK slowed, after a period of decade-long increase. Nevertheless, in March 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.

Housing Index in the United Kingdom decreased to 511.50 points in May from 513.50 points in April of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The average house price in the increased by 2.7 percent year-on-year in June 2024, according to the monthly house price index. The index is calculated using data on housing transactions and measures the development of house prices, with 2015 chosen as a base year when the index value was set to 100. In June 2024, the index reached 151 index points, meaning that house prices have grown by over 51 percent since 2015. The house price index is an important measure for the residential real estate market. It is used to show changes in the value of residential properties in England, Scotland, Wales and Northern Ireland. This upwards trend in house price index, and therefore the value of residential properties, has also been observed by other measurers of house price index in the United Kingdom.

Average House Prices in the United Kingdom increased to 299648 GBP in May from 297798 GBP in April of 2025. This dataset includes a chart with historical data for the United Kingdom Average House Prices.

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.

Median price paid for residential property in England and Wales, by property type and administrative geographies. Annual data.

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 ***** percent. Between 2024 and 2028, the average house price growth is projected at *** percent. A contraction after a period of continuous growth In June 2022, the UK's house price index exceeded *** index points, meaning that since 2015 which was the base year for the index, house prices had increased by ** percent. In just two years, between 2020 and 2022, the index surged by ** index points. As the market stood in December 2023, 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 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.

Graph and download economic data for Real Residential Property Prices for United Kingdom (QGBR628BIS) from Q2 1968 to Q1 2025 about United Kingdom, residential, HPI, housing, real, price index, indexes, and price.

House Price Index YoY in the United Kingdom decreased to 2.50 percent in May from 3.20 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom House Price Index YoY.

Median price paid for residential property in England and Wales, by property type and Middle layer Super Output Area (MSOA). Quarterly rolling annual data. Formerly HPSSA dataset 2.

Key information about House Prices Growth

• UK house prices grew 3.8% YoY in Feb 2025, following an increase of 4.0% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1992 to Feb 2025, with an average growth rate of 4.3%.
• House price data reached an all-time high of 26.4% in Jan 2003 and a record low of -17.5% in Feb 2009.

The average house price in England started to increase in the first half of 2024, after falling by over three percent year-on-year in December 2023. In June 2024, the house price index amounted to 149.7 index points, suggesting an increase in house prices of 2.4 percent since the same month in 2023 and a roughly 50 percent rise since 2015 - the baseline year for the index. Among the different regions in the UK, West and East Midlands experienced the strongest growth.

Nationwide Housing Prices YoY in the United Kingdom increased to 3.50 percent in May from 3.40 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom Nationwide Housing Prices YoY.

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 2015, 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. House price index in the UK The HPI fluctuated in 2023, after peaking in November 2022. In December 2023, the index stood at 149 index points, which was a slight decline from December 2022. This trend in the index, and therefore the value of UK residential properties, has also been observed by the Halifax house price index. Average house prices 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.

Median price paid for residential property in England and Wales by property type and electoral ward. Annual data.

House Price Index MoM in the United Kingdom decreased to -0.40 percent in May from 0.30 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom House Price Index MoM.

This is the unadjusted median house priced for residential property sales (transactions) in the area for a 12 month period with April in the middle (year-ending September). These figures have been produced by the ONS (Office for National Statistics) using the Land Registry (LR) Price Paid data on residential dwelling transactions.

The LR Price Paid data are comprehensive in that they capture changes of ownership for individual residential properties which have sold for full market value and covers both cash sales and those involving a mortgage.

The median is the value determined by putting all the house sales for a given year, area and type in order of price and then selecting the price of the house sale which falls in the middle. The median is less susceptible to distortion by the presence of extreme values than is the mean. It is the most appropriate average to use because it best takes account of the skewed distribution of house prices.

Note that a transaction occurs when a change of freeholder or leaseholder takes place regardless of the amount of money involved and a property can transact more than once in the time period.

The LR records the actual price for which the property changed hands. This will usually be an accurate reflection of the market value for the individual property, but it is not always the case. In order to generate statistics that more accurately reflect market values, the LR has excluded records of houses that were not sold at market value from the dataset. The remaining data are considered a good reflection of market values at the time of the transaction. For full details of exclusions and more information on the methodology used to produce these statistics please see http://www.ons.gov.uk/peoplepopulationandcommunity/housing/qmis/housepricestatisticsforsmallareasqmi

The LR Price Paid data are not adjusted to reflect the mix of houses in a given area. Fluctuations in the types of house that are sold in that area can cause differences between the median transactional value of houses and the overall market value of houses. Therefore these statistics differ to the new UK House Price Index (HPI) which reports mix-adjusted average house prices and house price indices.

If, for a given year, for house type and area there were fewer than 5 sales records in the LR Price Paid data, the house price statistics are not reported. Data is Powered by LG Inform Plus and automatically checked for new data on the 3rd of each month.