Average House Prices UK

  London house

  

 

The average house price in the UK is £249,663, average prices have increased by 7.6% over the last year and by 1.2% over the last month

UK average house prices have increased by 8.1% (£18,800) since the start of the COVID-19 pandemic.

UK average house prices are currently at their highest level on record.

The current level of house prices reflects a combination of pent up demand since the EU referendum in June 2016 constrained supply at the start of the pandemic and during the period the UK housing market was effectively locked down and the impact of the Stamp Duty Holiday.

In this article we look at the house price performance of each region across England and Wales.

Average house prices UK

 

 

Whilst we often to talk about the UK Housing market as one market, it is in fact a collection of hundreds and thousands of small local markets. House prices can vary significantly between these different housing markets. We show in the table below the different house prices across the regions of England and Wales

The range of house prices is quite large from average house prices of £140,200 in the  North East to average house prices of £612,500 in Inner London.

 

Regional UK house prices

 

There are also regional variations in house price inflation. Over the last 12 months house price inflation across the UK was 7.6%, but varied from 6.2% in the South East to 9.7% in Yorkshire and Humberside.  

We show in the table below a summary of the regional house prices and annual house price inflation, house price inflation in the last month and house price inflation since the start of the COVID Pandemic in the UK

 

Table showing regional house prices and regional house price inflation 

 

The chart below shows annual house price inflation by region in England and Wales and house price inflation since the start of the COVID Pandemic

 

House price inflation graph showing annual house price inflation and house price inflation since the start of the COVID pandemic

 

In the chart below we show the average house price inflation by region in England and Wales since the EU Brexit referendum in June 2016. House prices have risen the most in Wales up 23.1% followed by Yorkshire and Humberside up 22.7% and the North East up22.2%.

 

House price inflation by region in the UK since the EU Brexit referendum

 

House prices have risen the least in Outer London up 8.1% and the South East up 9.8% since the EU Brexit Referendum.

The changes in average house prices since the EU Brexit Referendum broadly reflect the regional voting patterns with higher house price inflation in those regions with a strong leave vote and lower house price inflation with a stronger remain vote.

 

How much is my house worth?

If you would like to quickly see how much your house is worth you can do so by visiting twindig.com we have details of every house across the country, all 28 million, not just the one million or so that are currently for sale or rent

 

 

House prices in England

The average house price in England is £266,700. House prices in England have increased by 7.6% over the last year, 1.2% over the last month, 8.0% since COVID and up 16.8% since the EU Brexit Referendum.

 

 House price graph chart showing average house prices in England

 

House prices in Wales

The average house price in Wales is £180,200. House prices in Wales have increased by 7.0% over the last year, 2.0% over the last month , by 8.4% since COVID and by 23.1% since the EU Brexit Referendum.

House price graph chart showing average house prices in Wales 

House prices in Outer London

The average house price in Outer London is £446,100. House prices in Outer London have increased by 5.4% over the last year, 1.2% over the last month, by 5.2% since COVID and by 8.1% since the EU Brexit Referendum.

House price graph chart showing average house prices in outer LOndon

 

House prices in London

The average house price in London is £514,000. House prices in London have increased by 9.7% over the last year, by 4.0% over the last month, increased by 8.1% since COVID and by 19.1% since the EU Brexit Referendum.

House price graph chart showing average house prices in London

 

House prices in Inner London

The average house price in Inner London is £612,500. House prices in Inner London have increased by 7.2% over the last year, by 2.1% over the last month and increased by 4.9% since COVID and by 21.1% since the EU Brexit Referendum.

 House price graph chart showing average house prices in Inner London

 

House prices the South West

The average house price in the South West is £278,400. House prices in the South West have increased by 8.5% over the last year, 1.1% over the last month and increased by 8.4% since COVID and by 12.2% since the EU Brexit Referendum.

House price graph chart showing average house prices in the South West 

 

House prices the West Midlands

The average house price in the West Midlands is £214,000. House prices in the West Midlands have increased by 6.9% over the last year, 1.0% over the last month and increased by 7.6% since COVID and by 13.2% since the EU Brexit Referendum.

House price graph chart showing average house prices in the West Midlands 

 

House prices the South East

The average house price in the South East is £342,300. House prices in the South East have increased by 6.2% over the last year, 1.2% over the last month and increased by 7.4% since COVID and by 9.8% since the EU Brexit Referendum.

House price graph chart showing average house prices in the South East  

 

House prices the East of England

The average house price in the East of England is £302,600. House prices in the East of England have increased by 4.8% over the last year, fallen by 0.3% over the last month and increased by 4.7% since COVID and by 20.3% since the EU Brexit Referendum.

House price graph chart showing average house prices in the East of England 

 

House prices Yorkshire and Humberside

The average house price in Yorkshire and Humberside is £180,900. House prices in Yorkshire and Humberside have increased by 9.7% over the last year, 1.9% over the last month and increased by 10.0% since COVID and by 22.7% since the EU Brexit Referendum.

House price graph chart showing average house prices in Yorkshire and Humberside 

 

House prices in the East Midlands

The average house price in the East Midlands is £208,700. House prices in the East Midlands have increased by 7.1% over the last year, 0.6% over the last month and increased by 7.9% since COVID and by 21.7% since the EU Brexit Referendum.

House price graph chart showing average house prices in the East Midlands 

 

House prices in the North West

The average house price in the North West is £180,300. House prices in the North West have increased by 8.5% over the last year, 0.2% over the last month and increased by 9.3% since COVID and by 10.5% since the EU Brexit Referendum.

house price chart graph showing average house prices in the North West 

 

House prices in the North East

The average house price in the North East is £140,200. House prices in the North East have increased by 8.3% over the last year, by 2.6% over the last month and increased by 10.1% since COVID and by 22.2% since the EU Brexit Referendum.

House price graph chart showing average house prices in the North East

 

Average UK House Prices and Stamp Duty Holiday

The average house price in the UK has increased by £14,692 since there start of the Stamp Duty Holiday to £249,663 which equates to a Stamp Duty saving of £2,493. 

The average UK house price has therefore increased by  £12,199 more than the potential Stamp Duty since the start of the Stamp Duty Holiday.

We show the change in house prices and stamp duty savings in the table below and also a chart show how much more average house prices have increased than the potential stamp duty saving

House Prices and Stamp Duty Holiday

 House prices increased by more than stamp duty saving