Average House Prices

“In 2000 the average price was 108,891 pounds; it is now more than twice that at £230,504 pounds.

Therefore, when we concentrate on decelerating house prices it is important to remember how much they have risen.

In the past 10 years, the average house price in the UK has been driven higher by various factors:

• Limited Supply.
• The Supply of new houses is at a very low level, with less than 150,000 houses being built last year. This is less than demand for houses.
• Increasing demand from:
• Lower long term interest rates
• Rising population (especially from immigration; e.g. Polish immigrants)
• Increase in number of single person households - result of increased divorce rates e.t.c
• Low Unemployment and strong growth
• Strong Buy to Let sector - including foreign investors looking to take advantage of strong rental incomes and capital gains.

Average House Prices in different Parts of the UK

• Average House Prices Greater London - £377,807
• Average House Prices East Anglia: £210,848
• Average House Prices Scotland: £159,981
• Average House Prices Yorkshire: £163,741
• Average House Prices : Wales £166,424

Average UK House prices BBC

Average House Prices to Earnings Ratio