Find out the average house prices in different areas to gain an understanding of the overall UK housing market.
Are you looking to move to a new area? Would you like to invest in a property somewhere cheaper than where you live now? Are you hoping to upgrade somewhere that houses are increasing in value quickly?
Whatever your reason for being interested in house prices, this guide is a handy introduction to the topic. Read on for an understanding of regional house prices in the UK:
A Quick Note…
It is important to note that any rough estimation quotes here are a rough guide and should not be taken as verbatim. The average house of any price depends on its condition and the house market at the time. The house market itself is highly volatile in 2022, so if you would like more accurate ideas on the most up-to-date house prices, do check with a local estate agent.
A Regional Guide To UK House Prices
Let’s take a closer look at the different areas of the UK and the average house prices as per the UK Land Registry and Government 2022 released information:
East Midlands – £237.904
East Of England – £344.943
London – £529.829
North East – £155.215
North West – £208.867
South East – £382.791
South West – £318.610
West Midlands – £242.145
Yorkshire And The Humber – £201.806
Overall, the South West has experienced a massive 14.1% rise in average property value over the last year along with slight increases across other regions, and a drop in prices in the East Midlands.
The increase in the value of South West properties is likely to be a result in a surge of interest in a better quality of life following the Covid-19 pandemic.
What Does This Mean For You?
The house market is extremely up and down at the moment because the global economy is volatile. The good news is that if you want to upsize, there is a lower amount of interest in properties of 3 bedrooms and above, so there’s more to choose from. If you have to keep it small, there are facilities like affordable self storage to help you live comfortably without having to cram all your things into a small space. With a lot of people moving around at the moment, there is also a vast amount of opportunity to buy properties that have not been on the market for some time. Character properties, ‘doer uppers’ and more, are all in the mix, for a much richer selection of property types to consider.
Speak To An Estate Agent To Find Out More
If you are interested in moving to a new area, do speak to an estate agent in that area to find out more. They can give you information on how house prices in that area are looking at the moment. You may also want to speak to your own local estate agent about your property and what it is worth at the moment. If the housing marking is seeing a drop, it might not be the best time to sell, so you may want to instead consider using budget self storage, as well as perhaps investing in landscaping and other valuable home improvements that could boost your home’s value once prices recover.