Average UK House Price Reaches Rp4.95 Billion in July 2022

Soaring demand for housing coupled with limited supply continues to drive up property prices in the UK.

According to HM Land Registry data, the average house price in the UK reached £292,118 (approximately Rp4.95 billion at an exchange rate of Rp16,929 per pound sterling) in July 2022. This represents a 1.98% increase from the previous month.

Compared to July 2021, the average house price in the UK has increased by 15.48% year-on-year (YoY).

Detached houses saw the highest year-on-year increase, rising by 17.27% to £457,552. Semi-detached houses increased by 16.81% YoY to £283,077.

Terraced houses experienced an average price increase of 16.53% YoY, reaching £205,875, while flats and maisonettes saw a 9.26% YoY increase to £234,000.

House prices in the UK have shown an upward trend since the 2008 global recession. As shown in the graph above, at the end of 2008, the average price of a new house was still £160,954. However, from 2009 onwards, the trend has been steadily upward, with prices nearly doubling since then.

The following details the average house prices in the UK by type in July 2022:

* Average house price: £292,118
* Detached houses: £457,552
* Semi-detached houses: £283,077
* Terraced houses: £239,906
* Flats and maisonettes: £234,000