mortgage rates, supply, and demand on the market. If demand outweighs supply, house prices tend to go up. The United Kingdom (UK) has some of the highest average house prices in Europe.
House prices are affected by multiple factors, such as Average house price in the United Kingdom (UK) from January 2007 to January 2022 (in GBP)
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Office for National Statistics (UK). (April 4, 2022). Average house price in the United Kingdom (UK) from January 2007 to January 2022 (in GBP) [Graph]. In Statista. Retrieved August 13, 2022, from https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK). "Average house price in the United Kingdom (UK) from January 2007 to January 2022 (in GBP)." Chart. April 4, 2022. Statista. Accessed August 13, 2022. https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK). (2022). Average house price in the United Kingdom (UK) from January 2007 to January 2022 (in GBP). Statista. Statista Inc.. Accessed: August 13, 2022. https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK). "Average House Price in The United Kingdom (Uk) from January 2007 to January 2022 (in Gbp)." Statista, Statista Inc., 4 Apr 2022, https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK), Average house price in the United Kingdom (UK) from January 2007 to January 2022 (in GBP) Statista, https://www.statista.com/statistics/751605/average-house-price-in-the-uk/ (last visited August 13, 2022)