Uk House Prices Forecast

UK House Prices Forecast – Can You Afford the UK Dream?

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Annual Change In Prices

Anticipated Trends in UK House Prices for 2025: Diverging Paths

Projections from Lloyd’s Banking Group, the prominent UK mortgage provider, paint a cautious picture of the housing market, indicating a sustained decline in house prices until 2025. The alliance, which oversees Halifax and Bank of Scotland, foresees a 2.4% decrease in prices next year, topping in an 11% overall drop from the previous peak in the initial year. However, a ray of hope emerges as the lender expects a modest recovery in 2025, with an anticipated rise of 2.3%.

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Image source: UK house prices forecast to fall for the next two years.

Conversely, the prime real estate sector in central London is balanced to withstand this overarching trend. Estate agent Savills researchers argue that not all segments of the housing market will experience a downturn in 2025, especially highlighting the resilience of central London properties. The prime market, comprising the top 5-10% of domestic properties, is projected to maintain stability in 2024, showing no signs of decline.

Looking ahead, the forecast for prime London house prices suggests a notable resurgence. Savills predicts an 18.7% increase by 2028, with a substantial 6% rise expected in 2026 alone. Even beyond central London, properties falling within this prime category are expected to witness a 4.5% growth in value in the same year, signalling a potential shift in the broader housing market dynamics.

Average House Price UK – Expensive To Affordable

London Houses

London House Prices

Most Expensive Areas in London:

Most Affordable Areas in London:

Area Average Property Price Notable Features
Erith £348,753 Thames River views, peaceful atmosphere, good transport links
Thamesmead £357,302 Regeneration project, modern housing, good value for money
Barking & Dagenham £380,000 Riverside location, green spaces, easy access to central London
Dagenham £380,000 Industrial heritage, improving infrastructure, good value for money
Edmonton £375,660 Diverse community, green spaces, good transport links
Bexley £420,000 The historic town center, green spaces, good transport links
Havering £450,000 Large borough, variety of towns and villages, good schools
Croydon £480,000 Regeneration project, improving infrastructure, diverse community
Sutton £520,000 Good schools, green spaces, family-friendly atmosphere
Bromley £520,000 The historic town centre, green spaces, good transport links

Manchester Houses

Manchester House Prices

Most Expensive Areas in Manchester:

Area Average Property Price Notable Features
Altrincham £825,000 Vibrant market town, family-friendly atmosphere, excellent transport links, close to countryside
Bowdon £750,000 Affluent village with leafy streets, prestigious schools, rural surroundings, exclusive shops and restaurants
Hale £700,000 Upscale village with designer boutiques, award-winning restaurants, canal-side walks, strong community spirit
Didsbury £650,000 Trendy neighborhood with lively bars and restaurants, independent shops, green spaces, young professional population
Prestwich £600,000 A diverse community, a mix of Victorian terraces and modern houses, good schools, parks and green spaces
Sale £550,000 Family-oriented suburb with large houses, excellent schools, Metrolink connection, close to Manchester Airport
Castlefield £500,000 Historic canal basin district, trendy bars and restaurants, cultural attractions, unique waterside living

Most Affordable Areas in Manchester:

Area Average Property Price Notable Features
Little Hulton £165,000 Up-and-coming area with regeneration projects, diverse community, parks and green spaces, easy access to the city centre
Gorton £180,000 Family-friendly suburb, with a mix of housing styles, and good schools, close to Heaton Park
Blackley £190,000 Semi-rural setting, close to the countryside, good transport links, mix of housing options
Miles Platting £200,000 Vibrant inner-city area, undergoing regeneration, diverse community, close to city centre amenities
Farnworth (Bolton) £210,000 Family-friendly suburb, with a mix of housing styles, good schools, close to Heaton Park
Harpurhey £122,000 Affordable housing close to city centre, undergoing regeneration, diverse community, good access to amenities
Hollinwood (Oldham) £150,000 Former mill town with character properties, close to countryside, improving amenities, good value for money

Birmingham Houses

Birmingham House Prices

Most Expensive Areas in Birmingham:

Area Average Property Price Notable Features
Hockley Heath: £597,851 Rural charm, affluent atmosphere, good schools, excellent transport links, close to Solihull
Earlswood: £597,851 Large green spaces, family-friendly neighbourhoods, historical landmarks, good transport links, close to M6
Knowle: £502,762 Family-friendly village atmosphere, historic charm, excellent schools, green spaces, close to Solihull
Henley-in-Arden: £505,697 Picturesque market town, affluent streets, independent shops and restaurants, close to countryside, good schools
Solihull: £482,738 Thriving commercial hub, excellent shopping and dining, diverse community, good schools, close to Birmingham city centre
Sutton Coldfield: £451,750 Large green spaces, family-friendly neighborhoods, historical landmarks, good transport links, close to M6
Moseley Village: £365,000 Trendy neighbourhood, vibrant nightlife, independent shops and restaurants, diverse community, close to the city centre

Most Affordable Areas in Birmingham:

Area Average Property Price Notable Features
Nechells: £116,111 Up-and-coming area, regeneration projects underway, close to city centre, diverse community, improving amenities
Newtown: £126,000 Inner-city location, close to Jewellery Quarter, good transport links, student population, mix of housing options
Birchfield: £135,000 Family-friendly area, affordable housing, close to Alexander Stadium, good parks and green spaces, diverse community
Saltley: £140,000 Up-and-coming area, regeneration potential, close to the city centre, a mix of housing types, easy access to amenities
Winson Green: £150,000 A diverse community, a mix of traditional and modern housing, close to Edgbaston Stadium, good transport links
Sparkbrook: £155,000 Vibrant multicultural community, variety of shops and restaurants, close to city centre, improving amenities
Yardley: £160,000 Family-friendly suburb, peaceful environment, good schools, green spaces, close to M42

Bradford Houses

Bradford House Prices

Most Expensive Areas in Bradford:

Most Affordable Areas in Bradford:

Glasgow Houses

Glasgow House Prices

Most Expensive Areas in Glasgow:

Most Affordable Areas in Glasgow:

Southampton Houses

Southampton House Prices

Most Expensive Areas in Southampton:

Most Affordable Areas in Southampton:

Liverpool Houses

Liverpool House Prices

Most Expensive Areas in Liverpool:

Most Affordable Areas in Liverpool:

Newcastle upon Tyne Houses

Newcastle upon Tyne House Prices

Most Expensive Areas in Newcastle upon Tyne:

Most Affordable Areas in Newcastle upon Tyne:

Newcastle’s 2023 housing market defied predictions of a crash. Despite some sources showing a slight dip (around 3%), overall prices remained stable or even grew slightly compared to 2022. The average price landed around £213,431, with terraced properties being the most common type sold at £191,583.

Nottingham Houses

Nottingham House Prices

Most Expensive Areas in Nottingham:

Most Affordable Areas in Nottingham:

Sheffield Houses

Sheffield House Prices

Most Expensive Areas in Sheffield:

Most Affordable Areas in Sheffield:

They averaged around £208,000 in 2023, with a slight decline of 3% compared to 2022. There were variations though, with newly built properties fetching a higher price than established ones. Is there another city you’d like to know about?

Bristol Houses

Bristol House Prices

Most Expensive Areas in Bristol:

Most Affordable Areas in Bristol:

In 2023, Bristol’s average house price saw a slight decline of around 3% compared to 2022, landing at £364,883. Despite the dip, demand for housing remained high, outstripping supply. Is there another city you’d like information on instead?

Belfast Houses

Belfast House Prices

Most Expensive Areas in Belfast:

Most Affordable Areas in Belfast:

Brighton Houses

Brighton House Prices

Most Expensive Areas in Brighton:

Most Affordable Areas in Brighton:

Leicester Houses

Leicester House Prices

Most Expensive Areas in Leicester:

Most Affordable Areas in Leicester:

Edinburgh Houses

Edinburgh House Prices

Most Expensive Areas in Edinburgh:

Most Affordable Areas in Edinburgh:

Bournemouth Houses

Bournemouth House Prices

Most Expensive Areas in Bournemouth:

Most Affordable Areas in Bournemouth:

Bournemouth’s 2023 housing market saw some price softening, with averages between £366,000 and £422,000 depending on the source. This suggests a possible slight decline from 2022, with detached houses commanding a much higher premium than flats.

Cardiff Houses

Cardiff House Prices

Most Expensive Areas in Cardiff:

Most Affordable Areas in Cardiff:

Cardiff’s market in 2023 differed from some UK trends. While some sources showed a slight increase (around 1.4% according to Local House Prices), others reported a decline (up to 13% according to Property Market Intel). The average price landed somewhere between £206,334 (Property Market Intel) and £267,605 (Local House Prices), with terraced houses being the most commonly sold type.

Coventry Houses

Coventry House Prices

Most Expensive Areas in Coventry:

Most Affordable Areas in Coventry:

Coventry house prices in 2023 displayed a slight decline. The average price hovered around £230,759 to £304,343 depending on the source. This translates to a possible decrease of 2-3% compared to 2022. Terraced properties were the most common type sold, with detached houses fetching a significantly higher price.

Middlesbrough Houses

Middlesbrough House Prices

Most Expensive Areas in Middlesbrough:

Most Affordable Areas in Middlesbrough:

Middlesbrough’s 2023 housing market saw mixed data on average prices (around £115,000 to £150,000), but most sources suggested a slight decline from 2022, with Rightmove reporting a 7% dip. Terraced properties remained the most popular choice.

Stoke-on-Trent Houses

Stoke-on-Trent House Prices

Most Expensive Areas in Stoke-on-Trent:

Most Affordable Areas in Stoke-on-Trent:

Stoke-on-Trent’s 2023 housing market displayed a decrease in prices. The average sold price landed around £149,500, reflecting a drop of 5% compared to the previous year. This decline is consistent with some sources reporting an average price as high as £197,000, but with a significant decrease over the past year. Terraced properties were the most commonly sold, with a significantly lower average price compared to detached houses.

The Final Advice:

Smart Strategies:

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