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.

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.

As of the last month of 2024, the value of the commercial real estate market in the United Kingdom (UK) was almost *** trillion U.S. dollars, which was an increase of about *** million U.S. dollars compared to 2023. After Germany, the UK was the second-largest commercial real estate market in Europe.

After declining slightly in the third quarter of 2023, the value of the Halifax standardized house price increased in the fourth quarter of the year. The average house price stood at approximately 287,000 British pounds in December, up from approximately 279,000 British pounds in September 2023. The correction is a result of the combination of the rising interest rates, dramatic house price increase since the beginning of the coronavirus pandemic, and the low housing inventory.

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.

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.

Summary statistics for housing transactions by local authority in England and Wales, on an annual basis, updated quarterly using HM Land Registry Price Paid Data. Select values from the Year and Month dimensions for data for a 12-month period ending that month and year (e.g. selecting June and 2018 will return the twelve months to June 2018).

The monthly house price index in London has increased since 2015, albeit with fluctuation. In August 2025, the index reached 99.1, which is a slight decrease from the same month in 2024. Nevertheless, prices widely varied in different London boroughs, with Kensington and Chelsea being the priciest boroughs for an apartment purchase.

The statistic displays a **** year forecast for house price growth in the United Kingdom (UK) from 2020 to 2024, revised with the coronavirus (covid-19) impact on the market. According to the forecast, 2020 and 2021 will likely see a slower to no increase in house prices followed by a gradual recovery between 2022 and 2024. North West, North East, Yorkshire & the Humber, and Scotland prices are forecast to bounce back quicker than other UK regions with higher **** year price increase.

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.

HTCC Shell & Housing market has been steadily increasing over recent years, and forecasts suggest a substantial growth trajectory in the upcoming period.

The mortgage market has recovered well since the financial crisis, often producing double-digit growth each year. However, rising economic uncertainties will dampen the prospects for future growth over the coming years. During the forecast period (2018-22), gross advances are expected to record a compound annual growth rate (CAGR) of 4.2%, reaching £338bn by the end of the forecast period versus a historic five-year CAGR of 7.6% from 2013 to 2017. Read More

Affordability ratios calculated by dividing house prices by gross annual workplace-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.

英国 Average House Prices: England: East of England在2020-05达290,621.000 GBP，相较于2020-04的293,608.000 GBP有所下降。英国 Average House Prices: England: East of England数据按月度更新，2005-01至2020-05期间平均值为202,149.000 GBP，共185份观测结果。该数据的历史最高值出现于2018-08，达294,035.000 GBP，而历史最低值则出现于2009-03，为168,263.000 GBP。CEIC提供的英国 Average House Prices: England: East of England数据处于定期更新的状态，数据来源于HM Land Registry，数据归类于Global Database的英国 – Table UK.EB016: Average House Prices: HM Land Registry。

Median monthly rental prices for the private rental market in England by bedroom category, region and administrative area, calculated using data from the Valuation Office Agency and Office for National Statistics.

The CORE datasets contained in the study cover annual official statistics on new lettings of the stock owned by local authorities and private registered providers of social housing in England, as well as sales of the social stock owned by private registered providers. For each year, data is structured into five datasets, four based on type of letting (social rent general needs and supported needs, and affordable rent general needs and supported needs) and one based on sales by private registered providers. All datasets are based on administrative data collected via the COntinuous REcording of Lettings and Sales (CORE) system. It is a regulatory requirement for providers registered with the Homes and Communities Agency to supply the data. For those who are not registered, submissions are voluntary. Local authorities have participated in CORE since 2004-5 on a voluntary basis. In the first year, only 24% of stock-holding local authorities participated, but the number of authorities participating has steadily increased, with all authorities submitting some data for 2013-14. Weighting is applied to adjust for non-response by local authorities for social rent datasets and imputation is also carried out to address item level non-response of key data on tenant characteristics, for both local authorities and private registered providers. The three datasets for affordable rent are not weighted or imputed. The sales dataset is imputed, with more information on the imputations within the data dictionary.

The collection of social housing lettings and sales data allows for a better understanding of the socio-economic and demographic make-up of affordable housing customers by tenure and of local housing markets and affordable housing products. These data are used by central government to inform national housing policy and by local government to inform their Strategic Housing Market Assessments. The data are also used by academics, researchers, charities and the wider public to understand social housing issues.

Further information may be found on the GOV.UK "https://www.gov.uk/government/collections/rents-lettings-and-tenancies" title="Social housing lettings"> Social housing lettings and "https://www.gov.uk/government/collections/social-housing-sales-including-right-to-buy-and-transfers" title="Social housing sales"> Social housing sales webpages.

Latest edition
For the 11th edition (August 2023), data and documentation for CORE Lettings for 2018/19-2021/22 have been added to the study. Sales data and documentation for 2018/19-2020/21 have been replaced, and 2021/22 added.

End User Licence, Special Licence and Secure Access datasets
The CORE datasets are available at three access levels, depending on the level of detail in the data.

• For the standard End User Licence (EUL) version (SN 7603) the geographic level of the data is set at Government Office Region (GOR). Letting and voiding dates are provided at month and year only; age variables are top-coded at 90 years; income, benefits, earnings, charge and shortfall variables are banded to disguise unique values; landlords are grouped into coded categories.
• For the Special Licence access (SL) version (SN 7604), the geographic level is set at Local Authority. The SL data have more restrictive access conditions than those made available under the standard EUL. Prospective users of the SL version will need to complete an extra application form and demonstrate to the data owners exactly why they need access to the additional variables in order to get permission to use that version.
• For Secure Access (SN 7686) the full CORE datasets are available, with some key variables recoded. Prospective users of the Secure Access version will need to fulfil additional requirements, including completion of face-to-face training and agreement to further stringent access conditions.

This is the distribution of tenure in houses in the private and social sector in the United Kingdom as of 2018, by dwelling type. As of 2018, approximately ** percent of all semi detached houses in the UK were owner occupied. Private renters made up almost ** percent of semi detached houses. Increasing purchasing power and decreasing unemployment provides European consumers with more confidence to enter the housing market, either to buy or to rent a house. Also, the monetary policy of the European Central Bank (ECB) allows for favorable lending conditions. Due to the ECB's artificially low interest rates, mortgage loans in Europe also have low interest rates and become more attractive to buy for consumers as lending has become cheaper.

The average house price in Wales has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2023 chosen as a base year when the index value is set to 100. In May 2025, the house price index reached 103.8 index points, meaning that house prices have grown by 3.8 percent since January 2023 and 5.1 percent since May 2024. Among the different regions in the UK, the West and East Midlands experienced the strongest growth.

United Kingdom HICP: Actual Rentals for Housing data was reported at 103.403 2015=100 in Oct 2018. This records an increase from the previous number of 103.397 2015=100 for Sep 2018. United Kingdom HICP: Actual Rentals for Housing data is updated monthly, averaging 81.973 2015=100 from Jan 1996 (Median) to Oct 2018, with 274 observations. The data reached an all-time high of 103.403 2015=100 in Oct 2018 and a record low of 58.378 2015=100 in Jan 1996. United Kingdom HICP: Actual Rentals for Housing data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.I003: Harmonised Index of Consumer Prices: 2015=100.