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Regional house price gap highest in 2013

Regional differences in average house price despite recent steadying trend shown in latest data

The latest figures from the ONS House Price Index for 2013 show that the regional house price gap has reached its highest ever level. Regional disparity in average house prices has increased from 57.0% between highest and lowest regions in 1986 (£31,000), to 68.3% in 2013 (£292,000). ONS data shows that the UK has surpassed the pre-downturn average house price with house prices varying greatly across the UK.

In 2013, the regions with the highest average price for all dwellings were London (£428,000), the South East (£305,000) and the East of England (£258,000).  The regions with the lowest average house prices were Wales (£169,000), the North East (£154,000) and Northern Ireland (£136,000).

Mean house price by region or country, 1986–2013

Mean house price by region or country, 1986–2013

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Southern regions had the highest house prices

House prices in the southern regions were the highest in the UK, with London raising the UK average. The regions with the highest average house prices were London, the South East and the East of England; they were the only regions consistently above the UK average (£251,000) since 1986. The regions with the highest and the lowest average house prices (London and the North East respectively) have been diverging over time. Out of all the other regions, only the South West and Northern Ireland have been above the UK average for some of the time between 1986 and 2013.

Recent house prices more stable than during recession

Since the economic downturn in 2008, UK house prices have stabilised and have started to rise since 2011 after two relatively short periods of decline, possibly reflecting the effects of the recent recession. Northern Ireland however has experienced a more rapid and sustained decline of more than 40% between 2007 and 2012 (from £230,000 to £131,000) although 2013 figures (£136,000) show a slight increase.

Mean house price by country, 1986–2013

Mean house price by country, 1986–2013

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All house types more expensive in England

Of the UK countries, England had the highest average house price in 2013 for all types of property, with Northern Ireland the least expensive. In 2013, a purpose built or converted flat/maisonette on average cost more in England than a detached house in Northern Ireland. In all UK countries, bungalows were more expensive, on average, than semi detached houses and were the second most expensive house type in Scotland, Wales and Northern Ireland.

London was the most expensive area in the UK for average house prices in 2013, at £428,000. This was a 4.2% increase from 2012, the largest across all regions. Since 1986 when records began, on average, flats or maisonettes in a converted house were more expensive in London than the UK average for all dwellings. The same is true for purpose-built flats or maisonettes since 1996.  

Mean house price by type and country, 2013

Mean house price by type and country, 2013

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Where can I find out more about UK House Prices?

These statistics are based on simple average house prices as published in tables 23 and 26 of the annual ONS HPI reference table (1.17 Mb Excel sheet) . Simple average house prices are more volatile than mix-adjusted averages, which are published in the main tables of the January 2014 ONS House Price Index Statistical Bulletin. If you have any comments or suggestions, we’d like to hear them. Please email us at: better.info@ons.gsi.gov.uk.

Categories: House Price Indices, Economy, Prices, Output and Productivity, Price Indices and Inflation, Housing and Households, Housing Market, People and Places
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