Residential Sales Value Portal

Welcome to Lambert Smith Hampton’s Residential Sales Values Portal (RSVP), your visual guide to residential per sq ft values across the UK. The map utilises a variety of statistics to illustrate key residential pricing indices at the local authority level. Simply click on the map below to assess residential values, property prices and prevailing affordability levels across the UK.

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PRIME CENTRAL LONDON WEIGHS ON UK HOUSE PRICE GROWTH IN H2

According to ONS data, average UK house prices increased by 2.8% in H2 2024, slowing from 3.4% in H1. This pushed growth in 2024 overall to 4.6%, comfortably reversing the 2.8% fall in prices witnessed over 2023. While the economy has been sluggish in recent months, the return to house price growth in 2024 reflected improving financial conditions and consumer sentiment relative to that seen in 2023.

At the regional level, the North East saw the strongest growth in H2, with average prices increasing by 5.4%. In stark contrast, Greater London was the only region to see a fall in average prices, decreasing by 1.5% over the period. However, this was due to a sharp fall in prices within three Central London districts during H2, namely Kensington & Chelsea (-24%), Westminster (-16%) and Islington (-10%).

Despite the fall, London remains by far the most expensive area of the UK, with average values of £548,939 equating to £769 per sq ft. This is 83% higher than the average for the South East at £383,605 (£421 per sq ft), the second most expensive region of the UK.

Beyond Greater London and the UK’s southernmost regions, average values are relatively uniform across the other regions of the UK. The North East region is home to the lowest average values, at £176 per sq ft, while values in Wales, Yorkshire and The Humber, the North West and Midlands are within a relatively narrow range of £220 to £270 per sq ft.

Notable contrasts in price movements were evident at the more local level during H2. Having seen the sharpest fall in average house prices across H1, Na h-Eileanan Siar (also known as the Western Isles) rebounded to record the strongest growth of the UK’s 360 districts, with prices rising by 16% in H2.

At the other end of the scale, some of London’s most expensive districts appeared especially vulnerable to tax and policy changes from the new Government in H2, reflecting the significant overseas component typically associated with the prime Central London market. Kensington & Chelsea was hit hardest, with a substantial 24% drop in average prices in H2, followed by Westminster, with a fall of 16% over the period. That said, the latest data can be skewed by a relatively small sample size associated with prime Central London, with a relative lack of ‘super prime’ sales impacting significantly on the overall average.

Unsurprisingly, London has the highest property price to income ratio, averaging 12.6. At the district level, and despite the aforementioned fall in values, Kensington & Chelsea is the least affordable area of London, with a ratio of 20.3. In contrast, the North West demonstrates a much more favourable level of affordability, with an average regional price to income ratio of 4.8. However, of all UK districts, Inverclyde, Scotland shows the lowest ratio of anywhere in the UK, standing at 3.2.

SUB-REGIONAL VALUE VARIANCE

The spread of residential values within the UK regions is tightest in the North East, with the most expensive district of North Tyneside (£218 per sq ft) commanding a relatively modest 59% premium over the region’s least expensive district of Hartlepool (£138 per sq ft). The second lowest intra-regional variation between districts is in the South West, where the average spread is 56% between the most expensive and least expensive districts, namely Cotswold (£407 per sq ft) and Plymouth (£261 per sq ft) respectively.

Beyond the extremes associated with Greater London, the East of England exhibits the highest regional spread in average pricing between districts, standing at 168%. This stems from significant variability in commutability into Central London, with the East region’s most expensive district of St Albans (£632 per sq ft) being far better connected with the capital compared with the region’s least expensive area of Great Yarmouth (£236 per sq ft).