UK house prices
The latest UK sold house prices and whether prices are going up or down where you live
In this house prices guide:
House prices in the UK
The average house price in the UK is now £234,612. This is from the latest Office for National Statistics (ONS) figures.¹
They’ve increased by 2.6% from March 2019 to March 2020.
Average house prices have increased over the last 12 months to:
£250,874 in England (2.53%)
£169,489 in Wales (4.97%)
£153,281 in Scotland (1.64%)
£140,580 in Northern Ireland (2.64%)
House prices in the East Midlands have risen the most
The East Midlands was the English region with the highest annual house price growth.
Prices increased by 4.7% to £200,513 from April 2019 to April 2020, up 3% from £194,664 in March 2020.
However, London prices remain the highest.
The lowest annual growth was in the North East, where prices fell by 2.39% from April 2019 to April 2020.
The average house in the North East costs £125,938. This is the only English region that has not gone beyond its pre-economic downturn peak of July 2007.
Latest average sold house prices where you are
£153,281
£125,938
£140,580
£165,561
£167,809
£202,093
£200,513
£295,640
£169,489
£480,425
£327,413
£255,891
Brexit and house prices
There were concerns that Brexit would cause a UK house price crash.
House prices have, in general, been rising since the UK voted to leave the EU.
In June 2016 the average UK house price was £212,887, according to the ONS. It’s now £234,613.
The rate at which house prices have risen, has slowed.
Learn more in our Brexit house price guide.
London house prices
The average price in London is £480,425, a 2.27% increase from April 2019 to April 2020.
Prices in the capital fell by 1.1% from March 2020 to April 2020.
London house prices and Brexit
In June 2016, when the UK voted to leave the EU, the average house price in London was £468,120. It’s since increased by 2.62%
The capital remains the most expensive place to buy a property in the UK.
Are house prices in London falling
Average London house prices reached a peak of £488,527 in July 2017. They fell to £463,182 in May 2019 and are now up to £480,425.
Average price paid
By a first time buyer – £417,555
By a former owner occupier – £547,020
In cash – £504,860
With a mortgage – £473,059⁴
Average price in London by property type
Detached – £971,142
Semi detached – £602,377
Terrace – £511,058
Flat/maisonette – £410,745
Birmingham house prices
Birmingham is in the West Midlands where the average house price grew from £195,750 in April 2019 to £202,093 in April 2020.
The average property price in Birmingham is £188,762, up from £186,990 the previous year.
Prices have continued to rise since the EU referendum in June 2016, when the average was £161,121.
Average price paid
By a first time buyer – £166,423
By a former owner occupier – £212,391
In cash – £176,285
With a mortgage – £193,886
Average price in Birmingham per property type
Detached – £358,034
Semi detached – £212,577
Terrace – £170,859
Flat or maisonette – £134,365
Bristol house prices
Bristol is in the South West of England, where the average house price is £255,891.
The average house price in Bristol, is £288,171. This is a 3.49% increase since April 2019, when the average was £278,452.
Prices in Bristol have risen by 14.4% since the EU referendum in June 2016, when the average was £251,883.
This contrasts with London, for example, where prices have risen by 2.62% – £468,120 to £480,425.
Average price paid
By a first time buyer – £263,269
By a former owner occupier – £318,065
In cash – £282,484
With a mortgage – £289,972
Average price in Bristol per property type
Detached – £542,877
Semi detached – £353,690
Terrace – £296,602
Flat or maisonette – £226,942
Edinburgh house prices
The average house price in Edinburgh is now £281,266, 83.49% higher than the Scottish average of £153,281.
Prices in the capital have increased by 7.52% from April 2019 to April 2020.
They’ve also increased rapidly since the vote to leave the EU in June 2016, when the average price was £219,977.
Average price paid
By a first time buyer – £225,348
By a former owner occupier – £344,071
In cash – £274,469
With a mortgage – £283,908
Average price in Edinburgh per property type
Detached – £611,559
Semi detached – £382,223
Terrace – £305,263
Flat or maisonette – £217,493
Manchester house prices
The average house price in Manchester is now £177,291, an increase of 0.97% since April 2019.
The city is in the North West of England, where the average property costs £167,809.
Property prices in Manchester have dropped by 15.5% since the vote to leave the EU in June 2016. At this point, the average price was £151,281.
This contrasts with London where prices have risen by 2.62% in that time.
Average price paid
By a first time buyer – £163,356
By a former owner occupier – £192,664
In cash – £168,658
With a mortgage – £181,294
Average price in Manchester per property type
Detached – £319,957
Semi detached – £219,787
Terrace – £166,700
Flat or maisonette – £152,808
Sources
¹ ONS UK House Price Index: April 2020
² Rightmove: Find out where demand has doubled since stamp duty holiday
³ Telegraph: Will house prices fall after lockdown, and what has to happen for a worst case 30pc market crash?
⁴ Land Registry UK House Price Index
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