In December 2024, the average house price in England was pricier than in any other country. This considerable disparity in average house prices is in no small part down to the country's capital city, where the average asking price was more than double that of the UK’s average. Even in London, for those who can afford a mortgage, the savings made through buying over renting can be beneficial. What drives house prices? Average house prices are affected by several factors, including economic growth, unemployment, and interest rates. Housing supply also plays a considerable role, with a shortage of supply leading to increased competition and an upward push in prices. Conversely, an excess of housing means prices fall to stimulate buyers. House prices still set to grow The housing market in the UK is expected to continue to grow in the next years. By 2029,.the annual number of housing transactions is set to reach *** million. With transactions on the rise, the average house price is also set to rise.

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.

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.

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

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.

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).

These National Statistics provide monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. National Statistics are accredited official statistics.

England and Northern Ireland statistics are based on information submitted to the HM Revenue and Customs (HMRC) Stamp Duty Land Tax (SDLT) database by taxpayers on SDLT returns.

Land and Buildings Transaction Tax (LBTT) replaced SDLT in Scotland from 1 April 2015 and this data is provided to HMRC by https://www.revenue.scot/">Revenue Scotland to continue the time series.

Land Transaction Tax (LTT) replaced SDLT in Wales from 1 April 2018. To continue the time series, the https://gov.wales/welsh-revenue-authority">Welsh Revenue Authority (WRA) have provided HMRC with a monthly data feed of LTT transactions since July 2021.

LTT figures for the latest month are estimated using a grossing factor based on data for the most recent and complete financial year. Until June 2021, LTT transactions for the latest month were estimated by HMRC based upon year on year growth in line with other UK nations.

LTT transactions up to the penultimate month are aligned with LTT statistics.

Go to Stamp Duty Land Tax guidance for the latest rates and information.

Go to Stamp Duty Land Tax rates from 1 December 2003 to 22 September 2022 and Stamp Duty: rates on land transfers before December 2003 for historic rates.

The latest release was published 09:30 28 November 2025 and was updated with provisional data from completed transactions during October 2025.

The next release will be published 09:30 09 January 2026 and will be updated with provisional data from completed transactions during November 2025.

https://webarchive.nationalarchives.gov.uk/ukgwa/20240320184933/https://www.gov.uk/government/statistics/monthly-property-transactions-completed-in-the-uk-with-value-40000-or-above">Archive versions of the Monthly property transactions completed in the UK with value of £40,000 or above are available via the UK Government Web Archive, from the National Archives.

Description

From main site:

The NLPG is the first, definitive, national address list that provides unique identification of properties across England and Wales and conforms to the British Standard, BS 7666. Local government, and potentially the public and private sectors, can link their information systems to this high-quality source of addresses and accurate geographic location.

Openness: NOT OPEN

Available commercially see: http://www.nlpg.org.uk/nlpg/link.htm?id=2071

According to pricing document linked from that page prices (as of 2008-11-02) start at 3k (single terminal, single region) and run up to 148k (whole of UK for 100-500 terminals).

Owner/Controller

From http://www.nlpg.org.uk/nlpg/link.htm?id=2007

In 2004, the NLPG’s ongoing central management was put out to open competitive tender as part of the wider MSA public procurement is managed by the Local Government Information House (LGIH – a wholly owned company of the Improvement and Development Agency, IDeA). The contracts for NLPG and its related project, the National Street Gazetteer (NSG), were won by Intelligent Addressing.

This CSV table shows a breakdown of the dwelling stock down to a lower geographic level Lower layer Super Output Area or LSOA, categorised by the property build period and property type. Counts in the tables are rounded to the nearest 10 with those below 5 recorded as negligible and appearing as -. Data on build period, or age of property, has been used to create 12 property build period categories: Pre-1900, 1900-1918, 1919-1929, 1930-1939, 1945-1954, 1955-1964, 1965-1972, 1973-1982, 1983-1992, 1993-1999, 2000-2009, and 2010-2015. Data on property type includes breakdown by bungalow, terraced, flat/maisonette, semi-detached and detached, and by the number of bedrooms. The counts are calculated from domestic property data for England and Wales extracted from the Valuation Office Agencys administrative database on 31 March 2015, and on 1 August 2012 and 31 March 2014. The VOA have published data that shows homes by period built, or type, and council tax band down to MSOA and LSOA level. Rounding: Small differences between the rounding conventions are applied to the 2014 and 2015 statistics. For 2014 The rounding convention applied to the tables: Counts are rounded to the nearest 10 dwellings and counts less than 5 are reported as negligible (-). For 2015 The rounding convention applied to the tables: Counts are rounded to the nearest 10 with counts of zero being reported as "0" and counts fewer than 5 reported as negligible and denoted by "-". National Statistics Postcode Lookup file (NSPL): Different NSPL files have been used for 2014 and 2015 statistics (February 2014 NSLP used February 2015 NSLP used). As a results, postcodes can be moved in different OAs. Further information on NSPL can be found at ONS Property attributes: As part of the day to day VOA work, attributes information can be added (where no information is recorded) and/or changed (existing information is updated). This would result in counts in categories changing. New entries and deletions: New entries into the CT List together with deletions from the CT List will result in changes to counts. New entries could be as a result from splits, mergers, new build but also entries which were not previously in the CT List i.e. a shop is converted in a domestic property. Similarly, deletions could be as a result from splits, mergers, demolitions but also entries no longer domestic properties i.e. a house is converted into a shop (non-domestic property). The map below was created to show the average age of properties at MSOA level.

The Committee was appointed by the Premier and Chief Secretary, Sir John See, on behalf of the Government of New South Wales, to inquire into and report upon the value of State properties, prior to transfer of same to the Commonwealth (under Section 85 of the Commonwealth of Australia Constitution Act, 63 and 64 Vic. c.12).

The Committee began its investigation on 7 August 1901 and presented its report on 26 October 1903. This volume of the printed report has been signed by the Committee members. (The first Chairman Critchett Walker had died and been replaced by John Manifold Gibson.)

The report details such property for transfer as: Post and Telegraph Offices; Custom Houses; Lighthouses and Quarantine; Military Lands, Buildings, Fortifications, etc.; Drill Halls in Country towns; and Military Stores. It gives details of values of buildings, including fittings, and of land as well as descriptions of sites.

Page 21 contains a statement of estimated rentals of properties retained by the State (from 1 March 1901). The report also contains block plans of 330 sites.


(6/5544). 1 vol.

Note:

This description is extracted from Concise Guide to the State Archives of New South Wales, 3rd Edition 2000.

The Welsh Government conducts the council tax dwellings survey (CT1 form). Data are available on the number of dwellings eligible for the council tax in each local authority for the next financial year, analysed by council tax band, including the numbers of properties eligible for council tax discounts and exemptions. Data cover Wales for all years since 1996-97. Data for earlier years is available from the Knowledge and Analytical Services division of the Welsh Government for the former districts of Wales, which were re-organised on 1 April 1996. The survey has been conducted every October to December since 1993-94. Results are available in early January, approximately three months before the beginning of the reference financial year. Council tax is a charge levied on each domestic dwelling for the provision of local authority services. This includes elements for the county or county borough council, together with elements for the police authority and, if one exists, for the local community council. In 1991, the Valuation Office Agency (VOA) assessed the properties in each county or county borough area and placed each dwelling in a valuation band, ranging from A to H. Dwellings in new buildings are placed in one of the bands according to the value that such a dwelling would have been worth in 1991. The dwellings were revalued in 2003 and the bandings revised for the 2005-06 year onwards. The bandings for Wales based on the 1991 valuation were: A - Up to £30,000; B - £30,001 to £39,000; C - £39,001 to £51,000; D - £51,001 to £66,000; E - £66,001 to £90,000; F - £90,001 to £120,000; G - £120,001 to £240,000; H - £240,001 and above. The bandings for Wales based on the 2003 valuation are: A - under £44,000; B - £44,001 to £65,000; C - £65,001 to £91,000; D - £91,001 to £123,000; E - £123,001 to £162,000; F - £162,001 to £223,000; G - £223,001 to £324,000; H - £324,001 to £424,000; I - £424,001 and above. Row Descriptions A1 - All chargeable dwellings This is not the number of dwellings in each band shown on the valuation list, because that includes dwellings that are exempt from the council tax. A2 - Dwellings subject to disability reduction Dwellings subject to a disability reduction are those set out in the Council Tax (Reductions for Disabilities) Regulations. A3 - Adjusted chargeable dwellings A dwelling in bands B to H which is subject to a disability reduction receives a reduction of one band for the purposes of calculating the council tax payable. From 1 April 2000, a ratio of 5/9 to a band D dwelling is to be applied to dwellings listed in B1 - Dwellings with no discounts The number of dwellings receiving no discounts, in respect of the council tax payable. B2 - Dwellings with a discount of 25% The number of dwellings receiving one discount in respect of the council tax payable. Dwellings subject to a discount equal to the appropriate percentage (i.e. 25 per cent) are treated as having one discount. B3 - Dwellings with a discount of 50% Dwellings subject to a discount equal to twice the appropriate percentage (i.e. 50 per cent) are treated as having two discounts. B4 - Total adjusted chargeable dwellings Total adjusted chargeable dwellings (B1+B2+B3=A3). The figures in this section are a breakdown of the adjusted chargeable dwellings shown in line A3. C2 - Total discounted dwellings The total discounted dwellings is calculated by A3-(C1x0.25). C4 - Total discounted band D equivalent dwellings The total discounted band D equivalent dwellings is calculated by multiplying the total discounted dwellings by a ratio to band D. The ratios are: A- - 5/9ths, A - 6/9ths, B - 7/9ths, C - 8/9ths, D - 9/9ths, E - 11/9ths, F - 13/9ths, G - 15/9ths, H - 18/9 D2 - Exempt dwellings class O Exempt dwellings class O (Dwellings owned by the Secretary of State for Defence which are held for armed forces accommodation, other than visiting forces accommodation). E1 - Total band D equivalent dwellings Total discounted chargeable dwellings: band D equivalents (=C4 total). E3 - E1x E2 Discounted chargeable dwellings: band D equivalents adjusted for collection rate (E1 x E2). E4 - Class O exempt dwellings The authority's estimate of the amount (if any) that is likely to be paid to the authority by the Secretary of State for Defence in respect of dwellings that fall within Class O. E5 - Tax setting taxbase Council tax base for tax-setting purposes (=E3+E4). E6 - Council taxbase for RSG purposes 100% council tax base for calculating revenue support grant (=E1+E4).

This plan was extracted from records relating to the Court House and Watch House at Gundagai. The building was offered for sale as a court house by a Mr Doyle.

(SR Plan No.2332). 1 plan.

Note:
This description is extracted from Concise Guide to the State Archives of New South Wales, 3rd Edition 2000.