For this instalment of our Delving into Data series, we took a snapshot of the UK housing market as it was on the 3rd November 2016.
- Average sale price in the UK on 03/11/2016 was £323,000 with over 500,000 properties currently for sale
- The lowest average rental prices is in Belfast, at just £345
- The average house price in London was just over £1,000,000. To put this in perspective, removing London from the UK would reduce the average house price by almost £40K!
- The most expensive London District is WB1, which runs along Regent Street, with the average sale price of just over £8,000,000
- It’s no coincidence that the areas with the highest demand for housing (i.e. shortest average time on market) are also popular London commuter areas; the top 3 are Dartford, Southend and Cambridge with Watford coming in 5th place
- The highest average time on the market is The Outer Hebrides at 419 days and Dumfries with 394
- If you wanted to buy all the property advertised as for sale in London on the 3rd November you’d need £31billion - or the entire GDP of Serbia!
Look out for our next Delving into Data feature on our Insights page.