Last updated: April 10th 2024
The average UK house price has risen from £1,884 in 1953 to a staggering £260,791 in 2024. Using data from Nationwide Building Society, we take a comprehensive look at UK house prices over the years including a look at prices in 'today’s money'.
Average house prices over time
| Year | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Avg House Price | £1,883.75 | £1,862.80 | £1,928.00 | £1,995.52 | £2,025.79 | £2,056.06 | £2,118.93 | £2,263.30 | £2,463.55 | £2,617.23 | £2,840.77 | £3,103.89 | £3,353.04 | £3,541.64 | £3,734.91 | £4,009.67 | £4,221.57 | £4,480.03 | £5,106.39 | £6,959.88 | £9,044.57 | £10,077.66 | £10,845.61 | £11,866.37 | £12,804.84 | £15,261.40 | £19,829.94 | £23,287.58 | £23,953.54 | £24,850.98 | £27,622.98 | £31,076.12 | £34,377.71 | £37,626.64 | £43,164.24 | £51,405.05 | £61,513.78 | £57,683.31 | £54,626.02 | £51,815.19 | £51,210.66 | £51,633.31 | £51,245.26 | £53,394.00 | £59,199.25 | £65,200.71 | £71,121.81 | £80,365.71 | £88,798.97 | £106,406.75 | £127,245.85 | £148,658.31 | £156,324.64 | £166,469.58 | £181,363.56 | £168,973.40 | £156,512.49 | £165,482.84 | £165,131.02 | £163,627.76 | £168,928.12 | £185,620.05 | £193,900.03 | £203,771.32 | £209,935.27 | £214,162.85 | £215,333.37 | £223,049.71 | £243,750.12 | £267,388.28 | £259,862.03 | £260,791.00 |
*Source: Nationwide Building Society, quarterly data averaged to give approximate annual figures.
'Real' house prices over time - prices in today's money
House prices adjusted for inflation i.e. house prices in 'today's money'.
| Year | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| 'Real' House Price | £119,861.17 | £112,140.86 | £104,445.02 | £114,857.37 | £131,569.28 | £131,258.19 | £120,644.86 | £115,149.42 | £122,318.58 | £131,090.70 | £136,799.27 | £144,728.44 | £159,436.96 | £180,766.38 | £200,962.00 | £172,383.30 | £154,011.88 | £140,857.16 | £137,012.50 | £134,820.40 | £129,390.63 | £131,588.50 | £141,433.14 | £150,651.52 | £161,801.86 | £177,650.80 | £192,746.19 | £227,200.51 | £264,097.42 | £299,045.11 | £306,473.18 | £316,187.96 | £330,460.06 | £296,189.72 | £275,598.86 | £278,616.95 | £264,323.05 | £253,748.83 | £254,162.34 | £272,823.50 | £282,247.75 | £291,546.55 | £290,025.90 | £286,281.65 | £280,637.94 | £286,382.51 | £300,730.92 | £296,100.14 | £259,862.03 | £260,791.00 |
*Source: Nationwide Building Society, quarterly data averaged to give approximate annual figures.
How much does the average house cost in 2024?
The average UK house price in 2024 is £260,791.00
How much did a house cost in 1990?
The average UK house price in 1990 was £57,683.31. The equivalent of £172,383.30 in today’s money.
The 90s started with falling house prices as a recession took hold. Between 1989 and 1995 average house prices fell 17%. The second half of the 90s saw a swift recovery in prices with an average house price of £71,121.81 by the end of the decade.
How much did a house cost in 1980?
The average UK house price in 1980 was £23,287.58. The equivalent of £131,258.19 in today’s money.
The 80s saw a 164% rise in house prices due to a combination of financial deregulation, economic growth, government policies and low interest rates. By 1989 the average house price had risen to £61,513.78.
How much did a house cost in 1970?
The average UK house price in 1970 was £4,480.03. The equivalent of £58,719.46 in today’s money.
The 70s saw a massive 343% rise in house prices. Eased credit conditions, economic growth, limited housing supply, government policies and low interest rates all combined to deliver a period of significant growth. By 1979 the average house price had risen to £19,829.94.
This How much did a house cost in 1960?
The average UK house price in 1960 was £2,263.30. The equivalent of £43,333.19 in today’s money.