Research by Warwick Estates reveals that Scotland is set to continue its domination over Britain’s new-build market with the total number of annual sales once again dwarfing those of any other region in 2022. In 2021, there were 54,788 new-build sales transactions in Great Britain. Scotland was, by far, home
Warwick Estates has created a jargon-busting guide to the complex and often confusing vocabulary and language used when marketing and selling new-build homes in the hope of giving buyers more confidence and knowledge while navigating their purchase. While there are some pieces of new-build jargon that most people will be
The latest research from Warwick Estates, has revealed where the new-build sector made the biggest impact on the property market in 2021 based on transaction levels and the total value of new homes sold. The research shows that to date, 8,714 new homes were sold across England and Wales in
The latest research from Warwick Estates has revealed which regions of the property market in England and Wales are currently the leasehold homebuyer hotspots. Warwick Estates analysed price paid data from the Land Registry over the last 12 months to see where the most leasehold homes are selling. The figures
The latest research from Warwick Estates has revealed that across the UK market there are no less than 29 areas where homebuyers can climb the new-build property ladder for less than the cost of existing homes. Warwick Estates crunched the latest data from the Land Registry which shows that the
The latest research from Warwick Estates, has revealed which new-build features are currently the most in-demand amongst new-build homebuyers in the current market. Warwick Estates analysed current new-build stock listed on the market and which features offered across these properties were most in demand based on the number of homes
The latest research from Warwick Estates has revealed which pockets of the national new build market still offer homebuyers the opportunity of a stamp duty saving right up until the final September deadline. While the initial stamp duty holiday for homes valued up to £500,000 has now passed, homebuyers purchasing
Comment from Warwick estates… COO of Warwick Estates, Bethan Griffiths, commented: “Whilst we welcome the government’s about turn on deeming 800,000 affected flats now safe, one wonders why it took four years for this to be ascertained. Meantime over £190billion worth of UK property assets has been held in limbo,
The latest research from Warwick Estates shows that leasehold homes are playing an increasingly significant role in the UK housing market after enjoying significant growth in the past couple of years. There is an increasingly common narrative around the housing market that leaseholds should be a thing of the past.
The latest research from Warwick Estates has revealed that while house prices are currently at an ‘all time high’, they’re yet to surpass their pre-financial crash peaks in all but three UK regions, when taking inflation into account. The average house price across Britain currently sits at a dizzying £253,382
BDC 319 : Aug 2024
Research by Warwick Estates reveals that Scotland is set to continue its domination over Britain’s new-build market with the total number of annual sales once again dwarfing those of any other region in 2022. In 2021, there were 54,788 new-build sales transactions in Great Britain. Scotland was, by far, home to the largest proportion of these sales with a total of 11,677. The next closest region was England’s South East with 7,335 sales. Warwick can now reveal that Scotland is once again on track to dominate the market this year. Of an estimated 16,158 new-build sales in Britain in 2022, it looks like 10,914 will be in Scotland with the next closest region, the South East, far behind with 1,191 sales. Scotland’s strong performance comes despite a forecasted annual new-build sales decline of -70.5% across Britain as a whole in 2022. In fact, Scotland’s annual decline of -6.5% is nothing compared to the rest of the British regions where annual declines have exceeded -80%. However, when looking back over the last five years of new-build sales data, Scotland slips into second place behind the South East. Of 473,630 new-build sales in Britain since 2017, 70,060 have been in the South East – an average of 14,012 per year. In Scotland, there have been 56,669 – an average of 11,334 a year. And in London, there have been 53,957 sales which works out at 10,791 a year. The worst performing new-build market over the past five years is Wales, home to just 13,721 sales – or 2,744 a year, followed by the North East where 21,357 sales equate to an average of 4,271 a year. Data tables Data tables and sources can be viewed online, here.
Warwick Estates has created a jargon-busting guide to the complex and often confusing vocabulary and language used when marketing and selling new-build homes in the hope of giving buyers more confidence and knowledge while navigating their purchase. While there are some pieces of new-build jargon that most people will be aware of and understand, such as Showhouse and Freehold/Leasehold, there are others that are less familiar albeit no less important. Understanding their meaning will make the process of buying a new-build home much easier and less stressful. Off-plan If you’re buying off-plan, it means you’re buying a new-build home that has not yet been built, so you’re literally buying it based on the plans and blueprints alone. You will usually be shown a show house so you have a good idea of what your property will eventually look like. Reservation fee To secure a new-build home, even off-plan, you have to pay a reservation fee so that nobody else can buy it while you get your finances in order to pay the deposit. This fee will be paid back to you when you pay your deposit. Deposit Just like with any house purchase, the deposit is how much money you have to pay at the point of exchanging contracts. The rest of the money is then paid through a mortgage. Schedule of works Before the building process even starts, you might be able to request a schedule of works from the developer. It will tell you all of the details about the building process, including timelines and who is responsible for each stage. Anticipate legal completion date (ALCD) This is the date that the developer anticipates the building will be completely finished. First fix Refers to the first stage of construction, usually the structural element of the build before plastering and decoration takes place. Second fix Second fix is when all plastering or plaster boarding is complete, appliances have been installed and connected, plumbing is complete, and things like skirting boards, doors, baths, and sinks have been installed. Shortstop / Longstop date Two important dates along the new-build timeline. The shortstop date is an estimate of when the developer hopes to finish the build. The longstop date is when the developer must finish the build. Completion on notice As a buyer, completion on notice means the building is fully completed and you have ten days to complete your purchase, pay the money you owe (including legal fees), get your keys, and move in. Defect liability period When you move in, the developer is liable for any defects or problems with the building for a set period of time. This is called the defect liability period and will be detailed in the smallprint of your contract. Ground rent (England and Wales only) If you’re buying the property on a leasehold contract, you will likely have to pay annual ground rent to the freeholder. Snagging This is the process of identifying and fixing minor issues with the new-build property, such as poor door hanging, shoddy painting or plastering, and poorly fitted windows. The developer will be liable to fix these issues for a set period of time after purchase. Aftercare Some new-build developers offer aftercare which means you can call them for help with any problems you have with the property. Alternatively, the developer will put you in contact with an external aftercare provider. Some developers offer no aftercare at all.
The latest research from Warwick Estates, has revealed where the new-build sector made the biggest impact on the property market in 2021 based on transaction levels and the total value of new homes sold. The research shows that to date, 8,714 new homes were sold across England and Wales in 2021, accounting for 1.8% of total market activity. The combined value of these new-build sales currently totals just shy of £3.4bn, 2% of the total value of homes sold across the entire market. London remains the biggest new-build market in the nation where transactions are concerned. So far, 1,469 new homes have been sold across the capital in 2021 totalling 2.8% of all homes sold. The East Midlands also ranks high where new-build transaction volumes are concerned, with new homes accounting for 2.3% of market activity, followed by the South East (1.9%), the South West (1.8%) and the North West (1.7%). Wales has seen the lowest level of new-build market activity, with the sector accounting for just 1.2% of total homes sold in 2021. When it comes to market value, London also ranks top with a huge £935m worth of new-build property sold in 2021 – 2.6% of the total market value across the capital. The East Midlands has also seen new homes account for 2.6% of total market value, followed by the North East (2.5%), the North West (2%0 and the South East (1.9%). The East of England has seen one the lowest values of total transactions come via the new-build market. While £327.1m worth of new homes have been sold in 2021, this equates to just 1.5% of total market value. The £74.25m worth of new homes sold in Wales in 2021 also accounts for just 1.5% of total market value. New-build transaction levels and total sold values sourced from the Gov.uk – Price Paid data records of residential property transactions. Jan 2021 to October 2021 (latest available), excluding properties listed by type as ‘other’.
The latest research from Warwick Estates has revealed which regions of the property market in England and Wales are currently the leasehold homebuyer hotspots. Warwick Estates analysed price paid data from the Land Registry over the last 12 months to see where the most leasehold homes are selling. The figures show that across England and Wales, 651,488 homes have sold in the last 12 months, 117,892 of which have been leaseholds, accounting for 18% of all market activity. London continues to lead where leasehold property popularity is concerned. 44% of all homes sold across the capital in the last year have been leasehold, by far the highest proportion of all regions. However, the North West ranks second, where the 25,858 leasehold sales equate to 32% of all market activity. The South East completes the top three regions with the most leasehold homes sold, with 15% of all transactions in the last year being for leasehold properties. In contrast, just 6% of homes sold across the East Midlands in the last year have been leasehold, while Wales (8%) and the West Midlands (11%) are also home to some of the lowest leasehold homebuyers. COO of Warwick Estates, Bethan Griffiths, commented: “The leasehold lifestyle appeals to a certain type of homebuyer and so there will always be a large regional disparity where the proportion of market activity attributable to leasehold sales is concerned. They remain a popular choice in many larger cities where apartment living, in particular, is the lifestyle of choice for many. They also provide a more affordable option for those purchasing in inflated pockets of the market. However, we’re now seeing an increase in popularity due to the social and communal aspects that many leasehold developments offer. This has become an important feature for many since the nation was plunged into lockdown and will remain a prominent aspect of life after the pandemic.” Location All transactions Leasehold transactions Leasehold % London 69,265 30,683 44% North West 79,685 25,858 32% South East 118,696 18,234 15% South West 75,991 10,877 14% North East 27,305 3,791 14% Yorkshire and the Humber 60,108 7,493 12% East of England 77,030 8,932 12% West Midlands region 57,560 6,307 11% Wales 31,437 2,501 8% East Midlands 54,411 3,216 6% England 620,051 115,391 19% England and Wales 651,488 117,892 18% Data sourced from the Land Registry Price Paid data records for residential property sales, excluding properties listed by type as ‘other’, between August 2020 and July 2021.
The latest research from Warwick Estates has revealed that across the UK market there are no less than 29 areas where homebuyers can climb the new-build property ladder for less than the cost of existing homes. Warwick Estates crunched the latest data from the Land Registry which shows that the average new-build home currently carries a 33% premium compared to the price paid for existing properties. However, a number of locations are currently home to a more affordable new-build price tag when compared to the rest of the market. The biggest new-build bargains can be found in Surrey Heath, where the average new-build value of £320,476 comes in at -23% more affordable than the rest of the market. St Albans also offers a more affordable foot on the ladder via the new-build sector, with the average new home costing -14% less than the wider average of £546,660. The London borough of Richmond ranks top where the biggest new-build bargains in the capital are concerned. The average new home in the borough is currently commanding £612,536, -14% lower than the average of £710,325 across the rest of the market. Three other pockets of the property market are currently home to a double-digit new-build discount including Oxford (-14%), Canterbury (-12%) and West Devon (-12%). New homes are also 5%+ more affordable in Kensington and Chelsea, Harrow, Brighton (-9%), Brentwood (-8%), Lichfield, Runnymede, Hounslow (-7%), Islington, Haringey, Reading, the New Forest, Windsor and Maidenhead, Hertsmere and Bournemouth, Christchurch and Poole. COO of Warwick Estates, Bethan Griffiths, commented: “House prices have boomed across the UK and this has been no different where the new-build market is concerned. In fact, new-build premiums remain some 33% above existing property values and despite delays caused by the introduction of EWS1 requirements, demand remains high. Despite this, there are a notable number of areas that offer a more affordable foot via the new-build route and this presents a great opportunity for homebuyers looking to purchase a new property.” Area New_Build_Average_Price Existing_Average_Price Difference Surrey Heath £320,476 £414,408 -23% St Albans £468,870 £546,660 -14% Richmond upon Thames £612,536 £710,325 -14% Oxford £388,704 £447,504 -13% Canterbury £292,586 £331,340 -12% West Devon £250,906 £283,757 -12% Kensington and Chelsea £1,135,215 £1,251,619 -9% Harrow £453,181 £499,382 -9% Brighton and Hove £358,798 £393,960 -9% Brentwood £414,765 £450,173 -8% Lichfield £263,301 £283,014 -7% Runnymede £404,050 £433,525 -7% Hounslow £412,747 £442,663 -7% Islington £636,260 £672,842 -5% Haringey £537,812 £568,515 -5% Reading £287,354 £302,838 -5% New Forest £344,829 £362,627 -5% Windsor and Maidenhead £480,271 £504,631 -5% Hertsmere £472,165 £495,629 -5% Bournemouth Christchurch and Poole £282,883 £296,918 -5% Hammersmith and Fulham £712,593 £744,347 -4% Ceredigion £209,587 £218,256 -4% Tunbridge Wells £392,012 £404,481 -3% Spelthorne £371,186 £380,344 -2% Enfield £410,573 £419,531 -2% Trafford £316,112 £322,335 -2% Lewisham £429,806 £437,425 -2% Brent £495,807 £504,509 -2% Sevenoaks £465,180 £467,680 -1% United Kingdom £329,801 £247,967 33% Data sourced from the UK House Price Index – New-build vs Existing (May 2021 – latest available)
The latest research from Warwick Estates, has revealed which new-build features are currently the most in-demand amongst new-build homebuyers in the current market. Warwick Estates analysed current new-build stock listed on the market and which features offered across these properties were most in demand based on the number of homes already under offer or sold subject to contract as a percentage of all available stock. UK new-build buyer demand Across the UK, there are currently 51,282 new-build properties listed for sale. With 18,095 already sold, demand for new-build homes currently sits at 35.3%. Most in-demand new-build property type Despite pandemic lockdown restrictions causing heightened demand for detached homes offering more space, the research by Warwick Estates shows that it’s terraced homes that are currently most in demand. 45.5% of all terraced home new-builds have already gone under offer or sold subject to contract, with the second most in-demand new-build property type being semi-detached (44.7%). Most sought after property features When studying the most in-demand property features for new-build buyers in the UK, Warwick Estates has discovered that affiliated buying schemes are what buyers want most. 42% of new-build homes providing the additional help of a buying scheme have already been snapped up across the UK market. Parking spaces are also in high demand. 39.6% of new-builds offering this feature have already been sold, with garden space also remaining popular with demand at 37.2%. COO of Warwick Estates, Bethan Griffiths, commented: “New-build homes remain a popular choice amongst many homebuyers and it’s not just flats that are proving popular, with the sector also satisfying the pandemic uplift in demand for larger homes. Of course, a new-build home naturally carries a price premium when compared to existing housing stock and, with the stamp duty holiday causing a house price boom, it’s no surprise that demand is high for homes offering the additional help of a buying scheme. Above and beyond this financial incentive, buyers continue to value homes with garden space having spent months in lockdown, as well as the more traditional feature of a parking space.” Table shows UK sales demand % for new-build and existing properties Category Demand Existing properties (excl NB) 67.2% New-build properties 35.3% Source – Rightmove Table shows demand for types of new property in the UK Category Demand New-build – Terraced 45.5% New-build – Semi detached 44.7% New-build – Detached 36.9% New-build – Flat 27.0% Source – Rightmove Table shows most in-demand features for UK new-build homes Category Demand Buying scheme eligible 42.0% Parking 39.6% Garden 37.2% Source – Rightmove
The latest research from Warwick Estates has revealed which pockets of the national new build market still offer homebuyers the opportunity of a stamp duty saving right up until the final September deadline. While the initial stamp duty holiday for homes valued up to £500,000 has now passed, homebuyers purchasing up to the sum of £250,000 will still pay no stamp duty right up until the end of September. However, it’s no secret that the new build market carries a property price premium compared to existing homes. In fact, the average new build house price is currently £348,298 in England, 30% higher than the average price for an existing property. This would suggest that the average new build homebuyer may find it tricky to find a property that sits below the current and final stamp duty holiday threshold and at a regional level this may be the case. Just two regions are currently home to an average new build house price below £250,000, the North East (£217,985) and Yorkshire and the Humber (243,791). However, when analysing the market at local authority level, Warwick Estates found that there is still some hope. In fact, 23% of local authority districts in England are home to a new build average house price that still sits below £250,000. You can see the full table below but the list includes areas from all over England including Northumberland, Plymouth, Great Yarmouth, Manchester, Ipswich, West Devon, Lancaster, Southampton, Liverpool, Scarborough, Norwich, Nottingham, Bradford, Gateshead and Stoke. COO of Warwick Estates, Bethan Griffiths, commented: “New build homes will always attract a premium when compared to the wider market and so those looking to climb the new build ladder will always need a little more in the savings pot. However, there seems to be a common misconception that new build homes are vastly unaffordable but as the figures show, the average new build home costs less than £250,000 across nearly a quarter of all areas in England. So not only can a new build home be purchased at a relatively affordable price point, but those currently in the market for one have a good chance of still securing a stamp duty free sale.” Location Average New Build House Price England £348,298 East Midlands £302,701 East of England £404,852 London £525,927 North East £217,985 North West £262,731 South East £420,199 South West £348,888 West Midlands Region £305,790 Yorkshire and The Humber £243,791 Data sourced from the Gov.uk – UK House Price Index (New Build vs Existing). March 2021 – latest available data. Table shows the areas of England where the current average new build house price is still below £250,000 Location Average New Build House Price Northumberland £246,397 Fenland £245,637 City of Plymouth £243,533 Great Yarmouth £241,469 Manchester £239,678 Telford and Wrekin £238,884 Ipswich £238,831 West Devon £238,777 Allerdale £238,665 Newark and Sherwood £238,329 Knowsley £237,455 Sandwell £236,847 Tameside £234,525 Tamworth £233,614 Rotherham £233,322 Wolverhampton £233,189 Lancaster £231,215 Torbay £231,043 Southampton £230,143 Salford £229,586 Kirklees £229,494 North East Lincolnshire £228,064 Eden £226,530 St Helens £225,820 Liverpool £225,450 Broxtowe £224,828 Rochdale £224,768 Erewash £224,701 Oldham £223,654 Wakefield £221,607 Scarborough £220,679 Walsall £219,680 Ashfield £219,404 South Tyneside £218,370 Norwich £217,586 Sefton £217,305 Middlesbrough £215,115 Sheffield £214,295 City of Nottingham £213,251 City of Derby £213,168 Sunderland £212,758 Bolsover £209,730 Wyre £209,356 North Lincolnshire £209,066 Carlisle £206,690 Bassetlaw £206,421 Bradford £205,342 Blackburn with Darwen £201,666 Darlington £201,116 Mansfield £200,151 Redcar and Cleveland £200,115 West Lindsey £197,991 Boston £197,314 Bolton £197,074 South Holland £194,183 Newcastle-under-Lyme £193,940 Wirral £191,211 East Lindsey £190,763 Barrow-in-Furness £190,762 City of Kingston upon Hull £189,873 Gateshead £187,368 Pendle £185,122 Doncaster £183,153 Copeland £181,950 Stoke-on-Trent £181,278 Lincoln £181,066 Barnsley £179,817 County Durham £169,866 Hartlepool £166,313 Stockton-on-Tees £163,047 Blackpool £162,375 Burnley £134,834 Hyndburn £105,888 Data sourced from the Gov.uk – UK House Price Index (New Build vs Existing). March 2021 – latest available data.
Comment from Warwick estates… COO of Warwick Estates, Bethan Griffiths, commented: “Whilst we welcome the government’s about turn on deeming 800,000 affected flats now safe, one wonders why it took four years for this to be ascertained. Meantime over £190billion worth of UK property assets has been held in limbo, trapping owners into a seemingly unnecessary and protracted state of anxiety. Notwithstanding the relief of hundreds of thousands of leaseholders, hundreds of freehold apartment owners including asset managers and property investment houses can also now restore these assets to full value on their balance sheets Wiping out one-fifth of a trillion pounds in property value is equal to around 9.7% of GDP and was likely to be somewhat missed economically.”
The latest research from Warwick Estates shows that leasehold homes are playing an increasingly significant role in the UK housing market after enjoying significant growth in the past couple of years. There is an increasingly common narrative around the housing market that leaseholds should be a thing of the past. This argument often starts by saying leaseholds don’t give owners sufficient freedom and protection in their homes. But, from analysing the past five years of the UK leasehold market in the private sector, it’s clear that they aren’t going anywhere. In fact, they’re growing in prominence. The industry analysis by Warwick Estates shows that In 2015/16, leaseholds accounted for 20.8% of the private housing market. In 2017, this had slumped to an all-time low market share of 20.3% and it looked as though leaseholds were quickly becoming the least desirable form of homeownership. But the slump didn’t last long. In 2018/19, the leasehold sector’s market share increased to 21.1%, with the total number of leasehold dwellings increasing by 5.3% from just over 4 million to more than 4.2 million. This growth continued into 2019/20, with leaseholds now accounting for 21.6% of all private dwellings, having increased by 3.4% annually. So the idea that leasehold ownership is falling out of favour seems to be incorrect. Instead, after a few years of strife from 2015-2018, leaseholds are on the rise having risen by 8.15% across the five-year period examined in the data. COO of Warwick Estates, Bethan Griffiths, commented: “Leasehold prominence in the UK housing market is on the up and this should come as no surprise as the sector provides a vital service to many. Those who argue leaseholds are increasingly defunct fail to consider how essential they are for the housing market, for the economy, and for buyers. “Take a walk around any city; there are new developments and high rise flats going up everywhere. Those that are destined to be sold will be done so with leaseholds. For as long as people want to live in urban areas and in flats, leaseholds will provide the ability to secure and maintain this lifestyle choice. “That’s not to say leaseholds don’t come with challenges, but with intelligent and communication-focused management that caters to landlords and leaseholders alike, these challenges can be mitigated and nullified.“ Leasehold dwellings across the private sector (owner occupied and private rented sector) Period Leasehold dwellings as % of stock Change (%) TOTAL – number of leasehold dwellings Change (n) Annual Change (%) Change – 2015/16 to 2019/20 (%) 2019-20 21.6% 0.5% 4,378,000 146,000 3.4% 8.15% 2018-19 21.1% 0.8% 4,232,000 212,000 5.3% 2017-18 20.3% -0.2% 4,020,000 -1,000 0.0% 2016-17 20.5% -0.3% 4,021,000 -27,000 -0.7% 2015-16 20.8% – 4,048,000 – – Data sourced from Gov.uk – Leasehold Dwellings
The latest research from Warwick Estates has revealed that while house prices are currently at an ‘all time high’, they’re yet to surpass their pre-financial crash peaks in all but three UK regions, when taking inflation into account. The average house price across Britain currently sits at a dizzying £253,382 according to the latest figures from the Land Registry. That’s 34% higher than the market peak of £189,199 in September 2007, before the worst property market crash of recent times brought the market to its knees. However, while the market is currently running red hot as a result of the stamp duty holiday, the research from Warwick Estates shows that it hasn’t quite reached the same level as 2007. Warwick’s research shows that when adjusting for inflation the average house price of £194,764 prior to the financial crash would be the equivalent of £276,250 in today’s market. This means that the current average property price of £268,291 still sits some -3% below historic highs. The North East is the region currently further off the pace when compared to its pre-financial crash peak of £139,400. While property prices currently sit 1% higher today at £140,606, they are actually -29% lower when taking inflation into account. Scotland (-17%), the North West (-15%), Wales (-15%) and Yorkshire and the Humber (-15%) are also home to some of the lowest property values when accounting for inflation and comparing them to their 2007 peaks. Just three regions are currently home to a higher average house price when compared to their 2007 peaks and when adjusting for inflation. Prior to the financial crash, the average London house price hit £298,596 before the market crashed. Today, this has increased by 69% to £503,308. Even when adjusting for inflation, the current average London house prices sits 4% higher than the pre-financial crash peak seen at the start of 2008. The East of England and the South East have also seen a stamp duty boost push house prices higher than their 2007 peaks. Even after adjusting for inflation, the average house price is now 4% higher in the East of England and 2% higher in the South East. COO of Warwick Estates, Emma Power, commented: “The market is currently performing very well with house prices climbing to historic highs across all areas of Britain thanks to the additional boost of the stamp duty holiday. We’re also seeing market values sit some 34% higher than their pre-financial crash peaks and so the overall market remains in very good health indeed. However, when taking inflation into account, we’re yet to see a full return to form across all regions of Britain and, in fact, homes across just three regions are worth more than their 2007 price peaks when adjusting for inflation. That said, with the market moving at a current rate of knots and likely to do so for the remainder of the year, it might not be long before the entire market surpasses the pre-financial crash peaks of 2007.” Location Date of pre-financial crisis peak Average house price Financial crisis peak – average price inflation adjusted Current peak – date Current peak – average price Nominal change – financial crisis vs current (%) Inflation adjusted change – financial crisis vs current (%) London 1/1/2008 £298,596 £423,677 1/1/2021 £503,308 69% 19% East of England 1/11/2007 £209,624 £297,435 1/1/2021 £309,243 48% 4% South East 1/10/2007 £238,845 £338,896 1/2/2021 £345,075 44% 2% East Midlands 1/9/2007 £159,537 £226,366 1/2/2021 £213,967 34% -5% South West 1/9/2007 £212,666 £301,751 1/2/2021 £279,242 31% -7% West Midlands region 1/8/2007 £165,807 £235,263 1/2/2021 £215,451 30% -8% Yorkshire and the Humber 1/10/2007 £150,233 £213,165 1/2/2021 £182,220 21% -15% Wales 1/8/2007 £150,316 £213,283 1/12/2020 £181,879 21% -15% North West 1/12/2007 £152,427 £216,278 1/2/2021 £184,351 21% -15% Scotland 1/5/2008 £145,641 £198,725 1/11/2020 £164,541 13% -17% North East 1/7/2007 £139,400 £197,794 1/1/2021 £140,606 1% -29% England 1/9/2007 £194,764 £276,350 1/2/2021 £268,291 38% -3% Great Britain 01/09/2007 £189,199 £268,454 01/01/2021 £253,382 34% -6% Data on house prices sourced from Gov.uk – UK House Price Index, based on the house price peak of each region prior to the financial crash and the change between then and the latest house price peak in 2020/2021
