UK house prices
The latest UK sold house prices and whether prices are going up or down where you live
In this house prices guide:
Latest average sold house prices where you are
Coronavirus and house prices
Chancellor Rishi Sunak introduced a stamp duty holiday for England and Northern Ireland in the summer budget.
Buyers will not pay any stamp duty on the first £500,000 (up from £125,000) of property purchases between now and the end of March 2021.
The stamp duty holiday combined with the easing of lockdown appears to have got the property market moving again, with house prices showing a rise that would have been unexpected at the beginning of the year.
The average time to sell of 50 days is quicker than ever before, leaving agents with more properties marked as sold than available for sale for the first time ever, according to Rightmove.²
The Royal Institution of Chartered Surveyors’ (RICS) October 2020 UK Residential Market Survey³ results signal that market recovery is gaining more momentum. Survey feedback is still pointing to strength in buyer enquiries, agreed sales, new instructions and prices.
However, respondents remain cautious that this momentum will be maintained once government support measures are phased out early next year.
At the beginning of the year most experts were predicting that house prices would drop this year. But many have revised their predictions, and expect prices to rise.
But the Centre for Economics and Business Research predicts house prices will fall by almost 14% next year once the government’s temporary cut in stamp duty ends and the economic impact of coronavirus filters through to the property market.
Here are some of the predictions for how much house prices will change:
Savills +4% ⁴
Knight Frank +2% ⁵
Centre for Economics and Business Research – 10%
Lloyds Banking Group -6% ⁶
Brexit and house prices
There were concerns that Brexit would cause a UK house price crash.
House prices have, in general, been rising since the UK voted to leave the EU.
In June 2016 the average UK house price was £212,887, according to the ONS. It’s now £244,513.
The rate at which house prices have risen, has slowed.
Learn more in our Brexit house price guide.
¹ ONS UK House Price Index: September 2020
² Rightmove: House Price Index
³ RIC.org: UK Residential Market Survey
⁴ Buy Association: UK housing market predictions: what to expect from the 12 months ahead
⁵ Knight Frank: UK Residential Market Forecast (2020-2024)
⁶ The Times: Lloyds says house prices could fall by nearly 10%
⁷ Land Registry: UK House Price Index
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