UK house prices
Are UK house prices going up or down? We give you the latest UK sold house prices and predictions.
In this guide
House prices in the UK
The average house price in the UK is £277,000 according to the latest Office for National Statistics (ONS) figures.¹
This is £27,000 more than the same time last year.
Average house prices across the UK have increased over the last 12 months to
£296,000 in England (10.7%)
£205,000 in Wales (14.2%)
£181,000 in Scotland (11.7%)
£159,000 in Northern Ireland (7.9%)
House prices in Wales have risen the most.
House prices in English regions
The South West and East of England were the UK regions with the highest annual growth between February 2021 and February 2022. The average house price in these regions grew by 12.5%.
The lowest annual growth was in London, where prices increased by only 8.1% over the year to February 2022.
Coronavirus, Brexit and house prices
During the pandemic, Rishi Sunak introduced a stamp duty holiday for England and Northern Ireland. This was a measure taken to help people afford to buy homes.
The stamp duty holiday meant buyers did not have to pay stamp duty on the first £500,000 (up from £125,000).
The stamp duty holiday was gradually phased out in the summer of 2021 and came to a complete end on 30 September 2021.
The stamp duty holiday helped push house prices higher. This is because buyers raced to buy while they could avoid the cost of stamp duty.
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 is now £277,000.
Learn more in our Brexit house price guide.
House price predictions
Although the pandemic has impacted the UK’s economy, average house prices were on the rise in 2021 and experts expect that this gradual increase will continue in 2022.
However, it is thought that although house prices will keep going up, Lloyds Banking Group has said that growth may not be as drastic in 2022 compared to 2021.³
Rightmove has predicted that asking prices will increase by 5% in 2022. This increase could add an additional £17,000 to the average price of a house.⁴
They have also suggested that more properties would come onto the market, meaning that buyers will have a better selection of homes to consider when buying. A positive shift following a lack of options on the market since the pandemic started in March 2020.
London house prices
The average house price in London is £529, 882, which is around an 8% increase in 12 months.
This is the lowest annual increase in the UK.
Although London was the region with the smallest increase in house prices in the year, it remains the most expensive place for buying a home.
The average house price in London is around 91% more than the average house price in the UK overall.
Average price paid:
By a first time buyer – £458,863
By a former owner-occupier – £606,934
In cash – £553,011
With a mortgage – £522,773
Average price in London by property type:
Detached – £1,074,093
Semi detached – £678,076
Terrace – £564,869
Flat/maisonette – £450,576²
Discover more in our London buying guide.
Birmingham house prices
Birmingham is in the West Midlands where the average house price has risen from £216,219 in February 2021 to £237,757 in February 2022. This is around a 10% increase.
The average house in Birmingham is £217,659. This is lower than the average in the West Midlands by 9%.
Average price paid:
By a first time buyer – £190,832
By a former owner occupier – £250,664
In cash – £201,339
With a mortgage – £224,239
Average price in Birmingham by property type:
Detached – £427,090
Semi detached – £248,654
Terrace – £197,187
Flat/maisonette – £149,448²
Find out more in our Birmingham guide.
Bristol house prices
Bristol is in the South West of England, where the average house price in February 2022 was £312,697. It went up by 12% in 12 months.
The average house price in Bristol, however, is £333,058. This is 8% more than it was in February 2021, when the average was £308,010.
Average price paid:
By a first time buyer – £302,934
By a former owner occupier – £372,593
In cash – £326,948
With a mortgage – £336,226
Average price in Bristol by property type:
Detached – £651,773
Semi detached – £416,833
Terrace – £346,794
Flat/maisonette – £255,554²
Check out more in our Bristol guide.
Edinburgh house prices
The average house price in Edinburgh is now £315,070, 74% higher than the Scottish average of £180,822.
Prices in the Scottish capital have increased by almost 12% from February 2021 to February 2022.
Average price paid:
by a first time buyer – £250,639
by a former owner occupier – £387,701
in cash – £307,309
with a mortgage – £318,097⁷
Average price in Edinburgh per property type:
detached – £720,733
semi detached – £441,050
terrace – £353,142
flat/maisonette – £238,666²
Discover more in our Edinburgh guide.
Manchester house prices
The average house price in Manchester in February 2022 was £214,886, an increase of almost 5% since February 2021.
The city is in the North West of England, where the average property costs £203,538.
Manchester is significantly cheaper to buy in than in London where the average price of a house is£529,882.
Average price paid
by a first time buyer – £197,201
by a former owner occupier – £235,108
in cash – £203,306
with a mortgage – £220,122⁷
Average price in Manchester per property type
detached – £399,375
semi detached – £269,988
terrace – £202,838
flat/maisonette – £181,706²
Find out more in our guide about buying a house in Manchester.
¹ ONS House Price Index February 2022
² Land Registry: UK House Price Index
³ Lloyds: What's next for the housing market in 2022?
⁴ Buy Association: What are the UK housing market predictions for 2022?