Reports
House price growth makes a strong start to 2022
- Annual house price growth increased to 11.2% in January, from 10.4% in December
- Prices up 0.8% month-on-month
- Strongest start to the year since 2005
Local Affordability Report: Britain's most and least affordable areas to live
- London borough of Kensington and Chelsea least affordable; East Ayrshire in Scotland remains most affordable
- North East has smallest gap between least and most affordable boroughs, London has largest
- 25% of local authorities have seen an improvement in affordability since 2016
- Westminster, Cambridge, Reading and Aberdeen amongst areas which have seen largest improvements, due to earnings growth outpacing house price growth
- Around 45% of local authorities now have an HPER of 6+, compared with c35% in 2016
UK house prices end the year at a record high, with annual price growth in double digits
- Annual house price growth increased to 10.4%, from 10.0% in November
- 2021 was the strongest calendar year for house price growth since 2006
- Price of a typical UK home hit record high of £254,822, up nearly £24,000 over the year
- Wales was the strongest performing region in 2021, London the weakest
House price growth edges back into double digits in November
- Annual house price growth increased slightly in November to 10.0%
- Prices up 0.9% month-on-month
Affordability special report: Raising a deposit still the biggest hurdle for first time buyers despite affordability becoming more stretched
- High house prices relative to average earnings continue to make raising a deposit a significant barrier for first time buyers (FTBs)
- 20% deposit equivalent to 110% average income – a record high and up from 102% one year ago
- House prices have risen quicker than earnings over last year resulting in increase in cost of servicing a mortgage relative to take-home pay
- North region & Scotland remain most affordable
Price of a typical UK home tops quarter of million pounds for first time
- Annual house price growth remained elevated at 9.9% in October
- Prices up 0.7% month-on-month
- Average property price up by more than £30k since the pandemic struck
Annual house price growth slows in September, but remains in double digits
- Annual house price growth eased back to 10.0%, from 11.0% in August.
- Prices little changed month-on-month, after taking account of seasonal factors
- Wales and Northern Ireland the strongest performing regions in Q3, London the weakest
- Cost of typical mortgage as share of take home pay above long run average in 10 of 13 UK regions, up from 1 pre-pandemic (see p2)
August upturn as UK house price growth increases to 11%
- Annual house price growth rose to 11.0% from 10.5% in July
- Prices up 2.1% month-on-month, the second largest gain in 15 years
- Average house price nudges towards £250k mark
Energy efficiency ratings currently having limited impact on house prices despite push to go green
- 1.7% house price premium for an owner occupier property rated A or B compared to a D-rated home
- Properties rated F or G attract a 3.5% discount compared to a similar D-rated property
Annual house price growth cooled in July, but remained in double digits
- Annual house price growth remained in double digits, but fell back to 10.5%
- Prices down 0.5% month-on-month
- Stamp duty changes impacting market dynamics
Annual house price growth accelerates above 13% in June, with all UK regions recording a pickup in Q2
- Annual house price growth rises to 13.4%, the highest level since November 2004
- Prices up 0.7% month-on-month, after taking account of seasonal factors
- Northern Ireland sees strongest growth in Q2, Scotland the weakest, closely followed by London
London sees biggest house price premium as households still attach significant value to transport links despite the pandemic
- £46,800 premium in London for property 500m from nearest station, compared with a similar property 1,500m (1.5km) away
- Slight increase in London premium to 9.7% from 8.6% in 2019/20
- £11,400 in Glasgow and £11,000 premium in Greater Manchester on comparable basis
- Glasgow sees biggest increase in premium (7.2% up from 3.5% in 2019/20)
- Manchester premium falls to 6.1% (from 9.0% in 2019/20)
