UK House Prices Up By As Much As £100,000 In A Single Year

Research from the national estate agent, Keller Williams UK, has revealed where across the UK homeowners have seen the biggest cash boost in house prices in just a single year.

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The analysis of Land Registry data by Keller Williams UK found that the average UK homeowner has seen a cash boost of £23,116 in just 12 months, with the average UK house price climbing from £231,508 in May of last year, to £254,624 in May 2021 (latest available data).

Biggest Cash Increases By Region

Regionally, the South East has seen the biggest increase with the average home now worth £29,199 more than a year ago.

The latest UK House Price index shows that the North West has seen the largest rate of annual growth of all regions at 15.2%. No surprise then, that the region has also seen the second-largest cash increase in the last year at £24,987.

In contrast, London has seen the lowest rate of annual growth of all regions at 5.2%, but the higher price of property in the capital means that London homeowners have enjoyed the third-highest cash increase at £24,987.

Biggest Cash Increases By Local Authority

The capital is also home to the area that has enjoyed by far the highest cash increase at local authority level. Homeowners in Hammersmith and Fulham have seen the value of their home increase by a huge £101,496 in the last year alone. However, just one other area of London makes the top 10 biggest cash increase, with homeowners in Bromley enjoying a £59,885 jump in the value of their home.

Outside of London, the average house price in Rutland has climbed by £88,625 in a year, with Oxford (£63,009), West Devon (£61,513) and Cotswolds (£60,825) also seeing values climb by more than £60,000.

Other areas to make the top 10 include Elmbridge (£57,168), Mole Valley (£54,824), Derbyshire Dales (£52,181) and Three Rivers (£47,607).

UK House Prices Have Climbed By 10%

CEO of Keller Williams UK, Ben Taylor, commented:

“The latest market data shows that house prices have climbed by 10% across the UK which is a phenomenal rate of growth. While not all areas have performed as strongly in percentage terms, the differing price of property across the UK market means that the actual cash increase has been sizable, even in the worst-performing regions.

On average, UK homeowners are over £23,000 better off than they were year ago and this is proof, if ever it were needed, that there’s no better investment than bricks and mortar.”

Table shows the annual cash increase in house prices across each nation and region

Location AveHP - May 2020 AveHP - May 2021 Change £ South East £320,817 £350,016 £29,199 North West £164,258 £189,245 £24,987 London £473,225 £497,948 £24,723 Wales £162,701 £184,297 £21,596 East Midlands £194,596 £216,077 £21,481 South West £256,208 £277,603 £21,395 East of England £290,117 £310,200 £20,084 West Midlands Region £200,156 £219,793 £19,638 Scotland £152,914 £171,448 £18,534 Yorkshire and The Humber £164,970 £181,856 £16,885 North East £127,999 £143,129 £15,130 Northern Ireland £140,841 £149,178 £8,337 England £247,499 £271,434 £23,934 United Kingdom £231,508 £254,624 £23,116

Source: Gov.uk - UK House Price Index (May 2020 to May 2021 - latest available data)

Table shows the areas to have seen the largest annual cash increase in house prices

Location AveHP - May 2020 AveHP - May 2021 Change £ Hammersmith and Fulham £679,448 £780,944 £101,496 Rutland £297,059 £385,684 £88,625 Oxford £392,528 £455,537 £63,009 West Devon £244,690 £306,203 £61,513 Cotswold £382,197 £443,022 £60,825 Bromley £426,062 £485,947 £59,885 Elmbridge £589,090 £646,258 £57,168 Mole Valley £480,145 £534,969 £54,824 Derbyshire Dales £258,630 £310,811 £52,181 Three Rivers £499,256 £546,864 £47,607

Source: Gov.uk - UK House Price Index (May 2020 to May 2021 - latest available data)

Keller Williams are the largest real estate business in the world with 190,000 agents and having rapidly expanded in recent years to 50 countries - founded in Austin, Texas by Gary Keller, Executive Chairman Home sales via Keller Williams topped one million transactions last year Keller Williams UK operates from 12 regional market centres across the country comprising over 300 estate agents, adding substantial numbers of new agents each month Ben Taylor is the CEO of Keller Williams UK and a major shareholder in the region and many of its market centres. He is formerly the Managing Director of John D Wood, a Countrywide PLC brand

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