25 Latest UK House Price Statistics (2024)

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Written by: - Garden Design Expert

The conversation around house prices has been going on for a while. So what do the UK house price statistics tell about the cost of getting on the property ladder?

Latest UK House Price Statistics & Facts

  1. As of July 2022, the average house price in the UK is £292,118. (UK House Price Index)
  2. House prices increased by 2% from June 2022 to July 2022. (UK House Price Index)
  3. Compared to 2021 figures, the average property price increased by 15.5%. (UK House Price Index)
  4. House prices have increased at an average rate of 4.3% annually since 2011. (Homebuyers)
  5. One in every 42 homes costs more than £1 million in the UK. (Savills)
  6. The highest recorded property price rise occurred in 1988, when house prices increased by 25% compared to the previous year. (Sun Life)
  7. In 2021, detached properties were the most expensive, with an average price of £462,000 in the UK. (Statista)
  8. Terraced houses were the least expensive, costing, on average, £264,000 in 2021. (Statista)
  9. The average price spent on a property for first-time buyers stands at £254,140, with a deposit of £53,935, seven times the average salary. (Halifax)
  10. The average cost of a new house was £1,891 (approximately £69,042 in today’s money) in the 1950s. (Sun Life)
  11. UK residential transactions in May 2022 stood at 109,210. (HMRC)
  12. These transactions were 5.1% lower compared to May 2021 but 1.3% higher than in April 2022. (HMRC)
  13. Transactions of residential properties valued at £40,000 or greater were 54.3% lower in June 2022 compared to July 2021. (The UK Property Transactions Statistics)

Regional UK House Price Statistics

  1. The average house price in England was £302,000 in England, £212,000 in Wales, £188,000 in Scotland, and £165,000 in Northern Ireland in May 2022. (ONS)
  2. From May 2021 to May 2022, the average house price increased by 14.4% in Wales, 13.1% in England, 11.2% in Scotland and 10.4% in Northern Ireland. (ONS)
  3. Annual change per region from 2011 to 2021 was 4.6% for England, 3.8% for Wales, 2.9% for Scotland and 2.6% for Northern Ireland. (Homebuyers)
  4. The area with the most affordable house prices in the UK is Shildon in County Durham, with an average house price of £80,299 in 2022. (Yopa)
  5. London has the highest average house price in England. (ONS)
  6. The average property value in London in June 2022 was £537,920. (UK House Price Index)
  7. But the capital city had the lowest annual growth at 8.2%. (ONS)
  8. Nonetheless, London’s house prices have increased the most over 10 years, growing by an average of 5.9% annually since 2011. (Homebuyers)
  9. The Borough of Barking and Dagenham in London have the most affordable houses, with an average asking price of £356,421. (Yopa)
  10. The most expensive areas in London are Kensington and Chelsea, with the average property costing £1,624,295 in 2022. (Yopa)
  11. The city of Aberdeen is the only area where house prices have fallen an average of -0.9% annually since 2011. (Homebuyers)
  12. There were 37 repossession sales in England in April 2022 and 2 repossession sales in Wales. (UK House Price Index)

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