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Housing in the United Kingdom (UK) - Statistics & Facts

2020 has been unprecedented for residential real estate in the United Kingdom. In the second quarter of the year, the coronavirus (COVID-19) lockdown caused house sales to plunge due to the disruption of normal business activities. Nevertheless, with the gradual easing of the measures, the market quickly headed for recovery. With record low mortgage rates combined with tax reliefs for residential property purchases, the second half of the year has enjoyed high interest by aspiring homeowners.

Both house prices and rental costs in the UK have been rising in the recent years, dictated by economic growth, employment and access to credit. Between 1992 and 2020, the Halifax house prices index grew from 100 points to almost 437 points, meaning that house prices quadrupled. In fact, house price growth has surged in the second half of the year fueled by a spike in buyers’ demand. As of July 2020, the Index of Housing Rental Prices (IPHRP) in Great Britain (excluding London) reached 109.8 index points, showing a 9.8 percent increase in rents compared to 2015.

House prices and home ownership in the UK vary depending on the type of property and location. In Leeds, London and Manchester, between 21 and 33 percent of the population in each city own their home, which is a number significantly lower than the average home ownership rate of 65.5 percent. To a large extent, this could be attributed to the higher asking prices of properties in these regions. As of the fourth quarter of 2019, for instance, the average asking price of a property in London was 698,700 British pounds, while in the North East it was 164,100 British pounds.

It is still too early to predict how exactly the UK housing market will develop in the long run. After the end of the stamp duty holiday, sales activity is expected to slow down along with price and rental growth. While this might sound discouraging, the past year has showed us that the sector is much more resilient than initial fears suggested.

Interesting statistics

In the following 8 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Housing in the UK".

Real estate in the United Kingdom

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Key figures

The most important key figures provide you with a compact summary of the topic of "Housing in the UK" and take you straight to the corresponding statistics.

Average house prices

Home ownership

Rental market

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