Average house price and annual percentage change in the UK 2023, by city

When it comes to house prices in different cities in the United Kingdom (UK), the cost of buying a home varies greatly. In August 2023, the average house price in London was roughly double the national average. At about 536,000 British pounds, the capital of England had the highest average house prices in the entire country. Despite the housing market cooling in 2022, many of the UK's major cities continued to experience growing prices in 2023. 

The cost of living in the capital

Probably the most cliché terminology when talking about residential real estate is ‘location, location, location’. Even within London, average house prices varied massively. To live in Kensington and Chelsea, the average house would set you back with over one million British pounds. At the other end of the scale, a house in Barking and Dagenham would cost about a quarter of that seen in Kensington and Chelsea. 

House sales

Every month across England and Wales there are anywhere between 25,000 and 165,000 sale completions. As a method of sale, the British public still prefer to use high street agents compared to online only agents.