The BBC has a great UK House Price section, and I came across an image that I took back in 2009, for Greater London property prices, and just added the latest one for 2012 that they have.
I have added the two together for comparison here…
This shows a change from £370,571 to £461,018 or 24.4% in just under 3 years, for the average property.
- Detached houses went up by 19.6%
- Semi Detached by 19.7%
- Terraced Houses by 31.2%
- Flats by 22.5%
This shows that the cheaper end of the property market has grown in value substantially more than the upper end, especially the terraced housing.
The overall UK average house prices are currently shown at £249,958, with the property type segments broken down as:
September 2012
- £343,105 Detached
- £209,098 Semi-detached
- £209,808 Terrace
- £245,533 Flat
However, when broken down into the different parts of the UK, we do see a very large difference, eg:
Average house price in Northern England was: £147,054 (Merseyside – £147,193, Greater Manchester – £155,109, Sunderland – £124,362)
- Detached £237,610
- Semi-detached £138,452
- Terrace £112,928
- Flat £105,915
Average house price in South East England was: £291,569
- Detached £462,895
- Semi-detached £261,897
- Terrace £217,032
- Flat £170,211
42.1 - 869,472