x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

Average house price in the UK has almost trebled in the past 20 years

There has been a general softening in residential property prices across many parts of the UK in recent months, suggesting that there is plenty of room for negotiations when buying property, which is welcome news for some property investors, especially those who expect to see long-term capital growth.

Discerning investors who look at longer-term trends rather than focusing on monthly movements will find that UK house prices have almost tripled over the past 20 years. 

Research shows that in 1999 the average house price in the UK was £77,961. Now that figure is £230,735. Average income has also increased - but only by 70%, according to Coulters Property.

When broken down by region you can see how house prices have increased at different rates:

Region

House Price (1999)

House Price (2020)

Difference (£)

Difference (%)

London

£115,686

£481,645

£365,958.33

316.34%

East of England

£76,768

£291,021

£214,252.67

279.09%

East Midlands 

£55,834

£194,933

£139,099.25

249.13%

South West

£74,707

£259,891

£185,184.67

247.88%

South East

£94,201

£322,863

£228,661.92

242.74%

North West

£50,145

£165,714

£115,569.50

230.47%

Yorkshire and Humber

£49,490

£163,093

£113,602.83

229.55%

West Midlands

£60,954

£199,594

£138,640.83

227.45%

Wales

£50,126

£163,739

£113,613.58

226.66%

Scotland

£49,924

£152,469

£102,545.00

205.40%

North East

£47,000

£127,704

£80,704.17

171.71%

Northern Ireland

£62,048

£140,580

£78,531.75

126.57%

In 1999, a 10% deposit would typically have worked out at about 43.8% of the average annual salary, these days, that figure has risen by about three quarters to 76%. You can view the difference in deposits over the past 20 years by region below:

Region

Deposit (1999)

Deposit (2020)

Deposit % of Earnings (1999)

Deposit % of Earnings (2020)

Difference in Deposit % of Earnings

London

£11,569

£48,164

51.40%

120.90%

69.50%

East of England

£7,677

£29,102

42.60%

95.50%

52.90%

South East

£9,420

£32,286

50.30%

100.10%

49.80%

South West

£7,471

£25,989

44.70%

89.30%

44.60%

East Midlands 

£5,583

£19,493

34.10%

68.90%

34.80%

West Midlands

£6,095

£19,959

35.90%

69.40%

33.50%

Wales

£5,013

£16,374

30.50%

59.50%

29.00%

North West

£5,014

£16,571

29.50%

58.40%

28.90%

Yorkshire and Humber

£4,949

£16,309

29.90%

58.70%

28.80%

Scotland

£4,992

£15,247

29.50%

50.70%

21.20%

North East

£4,700

£12,770

28.90%

47.30%

18.40%

Northern Ireland

£6,205

£14,058

39.30%

50.30%

11.00%

icon

Please login to comment

Zero Deposit Zero Deposit Zero Deposit
sign up