This Is The Average House Price Where You Live (It’s Never Been Higher)

Planning to buy a house? You better get saving, because the average cost of a home in the UK has reached an all-time high of £338,447.

The North East of England remains the cheapest place to buy a home, with prices averaging £166,723. London is, once again, the most expensive, with the average property price reaching an eye-watering £645,268.

The figures, released by Rightmove, are the result of a “stark imbalance between supply and demand,” the home property site said. Its analysis identified a shortfall of 225,000 homes for sale which, if available, would have helped keep prices down.

The stamp duty holiday has been partially responsibly for a surge in demand, leading to the busiest first half of a year ever recorded by Rightmove. In 2021, the average house price increased by £21,389 (+6.7%) in just six months. But campaigners say a lack of affordable housing was already a problem, long before Rishi Sunak’s plan to get the market moving.

Commenting on the latest figures, Anya Martin, director of the housing campaign group PricedOut, says the situation is going from “bad to worse” for renters and potential first-time buyers alike.

“Our decades-long failure to build enough new homes means that prices have continued to rise consistently. And the lack of a steady and reliable output of new homes also means that house prices are highly vulnerable to wild peaks and crashes, dependent on credit and tax conditions,” she tells HuffPost UK.

“Government needs to address the barriers to building new homes and stop tinkering around at the edges with policies like Help to Buy that do nothing to make housing cheaper. Otherwise we are going to see more young people permanently priced out of the homes they want and need.”

Here’s the full breakdown by region.

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