In December 2024, the average house price in England was pricier than in any other country. This considerable disparity in average house prices is in no small part down to the country's capital city, where the average asking price was more than double that of the UK’s average. Even in London, for those who can afford a mortgage, the savings made through buying over renting can be beneficial.
What drives house prices?
Average house prices are affected by several factors, including economic growth, unemployment, and interest rates. Housing supply also plays a considerable role, with a shortage of supply leading to increased competition and an upward push in prices. Conversely, an excess of housing means prices fall to stimulate buyers.Â
House prices still set to grow
The housing market in the UK is expected to continue to grow in the next years. By 2029,.the annual number of housing transactions is set to reach *** million. With transactions on the rise, the average house price is also set to rise.
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GOV.UK. (July 16, 2025). Average house price in the United Kingdom (UK) from 1995 to 2024, by country (in GBP) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 31, 2026, from /statistics/751694/average-house-price-in-the-uk-by-country/
GOV.UK. "Average house price in the United Kingdom (UK) from 1995 to 2024, by country (in GBP)." Chart. July 16, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 31, 2026. /statistics/751694/average-house-price-in-the-uk-by-country/
GOV.UK. (2025). Average house price in the United Kingdom (UK) from 1995 to 2024, by country (in GBP). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 31, 2026. /statistics/751694/average-house-price-in-the-uk-by-country/
GOV.UK. "Average House Price in The United Kingdom (Uk) from 1995 to 2024, by Country (in Gbp)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 16 Jul 2025, /statistics/751694/average-house-price-in-the-uk-by-country/
GOV.UK, Average house price in the United Kingdom (UK) from 1995 to 2024, by country (in GBP) ÌÇÐÄÆƽâ°æ, /statistics/751694/average-house-price-in-the-uk-by-country/ (last visited July 31, 2026)
Average house price in the United Kingdom (UK) from 1995 to 2024, by country (in GBP) [Graph], GOV.UK, July 16, 2025. [Online]. Available: /statistics/751694/average-house-price-in-the-uk-by-country/
