Average House Prices in the UK

Average House Prices in the UK
  • Opening Intro -

    The UK is a nation in which more than two thirds of the population own their own home.

    This interest only looks to increase in oncoming years, with the majority of houses sold being bought by first-time buyers.

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If you are planning on moving house there are several factors that you should consider before settling on an area to move to. It is important that you find somewhere that suits the lifestyle of you and your family.

Typically speaking, where there are better schools there are also more sought after properties. Local amenities are also something you should keep a look out for. A good area will have a great choice of cafés, restaurants and shops. An area of housing will be more popular to live in the more transport options that are available to it. The downside is that the closer you are to a motorway, airport or train station, the more noise pollution you will have to put up with. You’ll have to take the good with the bad. Although not as important as the above factors, living near a green space is always a bonus.

As important as these factors might be for finding an ideal home, the most significant factor you have to consider when looking to change your address is the housing cost. Geography has always played an important role in house prices, but so do crime rate, services and cost of living. How far will your budget stretch in order to accommodate purchasing in certain areas of the country?

The average house price in the UK is £229,000. This breaks down to an average of £237,000 in England, £152,000 in Wales, £153,000 in Scotland and £139,000 in Northern Ireland.

When looking at the different types of housing in the UK, the average prices are as follows:

Detached

£327,646

Semi-detached

£200,165

Terrace

£199,318

Flat

£240,820

The rise of prices in the UK in recent years follows the increase in London, where many properties attract the attention of foreign investors, as well as domestic demand remaining relatively high. The average price of a house in London falls well above the UK average of £229,000.

The average house price in the UK by region:

AREA

AVERAGE PRICE

AVERAGE SALES (PER ANNUM)

Greater London

£458,035

19,752

South East

£280,259

35,997

South West

£226,806

16,521

East Anglia

£198,608

7,376

West Midlands

£170,755

12,676

East Midlands

£160,975

12,466

Yorks & Humber

£156,451

12,610

Scotland

£153,501

18,514

North West

£153,415

14,052

Wales

£152,625

6,828

North

£143,039

7,222

Northern Ireland

£139,633

N/A

It should be noted that these details are always changing, depending on factors such as time of year. However they do give a fair representation of how the different areas compare to each other. Throughout the year house prices have been up and down, but despite this they still remain below the average level reached when the property market was thriving.

Property and home improvement sites and blogs often put up articles showcasing the ‘best and worst places to live in the UK’, basing their top choices on cost of living and quality of life. The areas that tend to get ranked highest on these lists are areas that are not close to any of the UK’s major cities.

The UK has plenty going for it. Yes there are areas with high crime rate and high cost of living, but there are also areas of outstanding beauty. Make sure you consider all of the above factors – location, quality of life, and house costs – when moving house so that you can get the most out of what this nation has to offer.

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