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:
Includes house price growth
Includes UK house price crash
Includes are house prices in London falling
House prices in the UK
The average house price in the UK is now £235,298, according to the latest Office for National Statistics (ONS) figures.¹
UK house prices increased by 2.2% from November 2018 to November 2019.
There’s been a monthly increase of 0.42% from October 2019 to November 2019.
Average house prices have increased over the last 12 months to:
£251,222 in England (1.73%)
£172,574 in Wales (7.75%)
£154,798 in Scotland (3.51%)
£139,951 in Northern Ireland (2.33%)
The West Midlands is the region with the highest yearly house price growth in England.
Prices there have increased by 4% in the year to November 2019.
The North East is the only region in England that hasn’t fully recovered from the 2007-08 financial crisis.
In July 2007 the average house price in the North East was £139,400. In November 2019 it was £130,712, the lowest in the English regions.
House price growth has slowed
In general, house price growth has slowed in the last 3 years. This is largely because of property prices in the South and East of England.
Properties in the East of England saw the lowest growth, falling by 0.73% over the year to November 2019.
London was the second worst for growth, with prices rising by only 0.23% over the same time.
There has been a large drop in house price growth since June 2016 when the UK voted to leave the EU.
Latest average sold house prices where you are
Scotland
£154,798
North East
£130,712
Northern Ireland
£139,951
Yorkshire & The Humber
£165,642
North West
£169,362
West Midlands
£204,238
East Midlands
£197,792
East
£291,281
Wales
£172,574
London
£475,458
South East
£326,636
South West
£259,758
Brexit and house prices
There have been concerns that Brexit would cause a UK house price crash
In fact 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 £235,298.
The rate at which house prices have risen has slowed.
Read our house prices and Brexit guide to find out more.
UK house price news
The average house price in January was £240,054, according to Halifax.²
This was 4.1% higher than the same time last year, and a monthly increase of 0.4%.
“A number of important market indicators continue to show signs of improvement,” said Russell Galley, managing director of Halifax.
“We have seen a pick-up in transactions with more buyer and seller activity consistent with a reduction in uncertainty in the UK economy.
“However, it’s too early to say if a corner has been turned. The recent positive figures may actually represent activity that would ordinarily have been expected to take place last year, but was delayed by economic uncertainty.
“So while housing market activity has undoubtedly increased over recent months, the extent to which this persists will be driven by housing policy, the wider political environment and trends in the economy.”
London house prices
London has seen the second lowest annual growth in the UK, according to the latest ONS figures.
The average price in the capital is £475,458, an increase of just 0.23% over the last 12 months.
They fell by 0.46% from October 2019 to November 2019.
Since the vote to leave the EU in June 2016 they’ve risen by only 1.57%.
While London house prices haven’t increased much, the capital is the most expensive place to buy a property.
The average house in London is almost three times more expensive than the average in the North East, which has the lowest house prices.
Are house prices in London falling
Average London house prices reached a peak of £488,527 in July 2017 and have been falling, in general, ever since.
They’ve dropped by £13,069 since the July 2017 peak.
Average price paid in London
by a first time buyer – £414,952
by a former owner occupier – £538,220
in cash – £494,958
with a mortgage – £469,300
for a new build – £502,228
for an existing property – £477,678
Average house price in London per property type
detached – £916,921
semi detached – £584,481
terrace – £498,459
flat/maisonette – £413,863
Birmingham house prices
Birmingham is in the West Midlands, the English region with the highest annual house price growth.
Prices in the West Midlands increased by 3.97% in the year to November 2019. The average is now £204,238.
The average property price in Birmingham is £190,901, a year on year rise of 1.41% according to the latest figures.
Prices have risen steadily since the EU referendum in June 2016 when the average was £161,121.
Average price paid in Birmingham
by a first time buyer – £167,996
by a former owner occupier – £218,742
in cash – £178,588
with a mortgage – £195,979
for a new build – £251,363
for an existing property – £188,358
Average house price in Birmingham per property type
detached – £362,651
semi detached – £215,337
terrace – £171,087
flat/maisonette – £137,436
Bristol house prices
Bristol is in the South West of England where the average house price is £259,758.
The average house price in Bristol, however, is £286,432. This is a 2% increase since November 2018, when the average was £280,824.
Prices in Bristol have risen by 13.72% since the EU referendum in June 2016 when the average was £251,883.
This contrasts with London, for example, where prices have risen by 1.57% in that time.
Average price paid in Bristol
by a first time buyer – £261,271
by a former owner occupier – £316,873
in cash – £282,582
with a mortgage – £287,753
for a new build – £299,336
for an existing property – £286,833
Average house price in Bristol per property type
detached – £536,325
semi detached – £349,348
terrace – £291,859
flat/maisonette – £229,395
Edinburgh house prices
The average house price in Edinburgh is now £277,600, 79.33% higher than the Scottish average of £154,798.
Prices in the capital have increased 4.94% over the last 12 months.
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 in Edinburgh
by a first time buyer – £223,634
by a former owner occupier – £337,174
in cash – £272,775
with a mortgage – £279,461
for a new build – £312,170
for an existing property – £268,194
Average price in Edinburgh per property type
detached – £580, 581
semi detached – £370,501
terrace – £295,990
flat/maisonette – £217,103
Manchester house prices
The average house price in Manchester is now £185,333 – an increase of 4.38% over the last 12 months.
The city is the North West of England where the average property is £169,362.
Property prices in Manchester have risen sharply – by 22.51% – since the vote to leave the EU in June 2016.
This contrasts strongly with London, for example, where prices have only risen by 1.57% over the same period.
Average price paid in Manchester
by a first time buyer – £170,730
by a former owner occupier – £201,453
in cash – £176,947
with a mortgage – £189,286
for a new build – £214,819
for an existing property – £180,284
Average price in Manchester per property type
detached – £331,558
semi detached – £227,623
terrace – £171,452
flat/maisonette – £163,644
Sources
¹ UK House Price Index: November 2019
² Halifax House Price Index 7/02/2020
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