How much is a home in your area?

If you like to keep up to date with what’s happening in the property market, then our monthly House Price Index is a great place to start.

Each month, we look at how many people are looking to move, how many homes there are for sale, and we also track the average asking price of a home in each area of Great Britain. But there are thousands of different local markets, and a wide range of average prices. You can check our sold prices tool to find out how much homes in your area have recently sold for.

This month, we saw the average national asking price drop for just the second time this year (down 1.1%, to £366,999). And here’s why it’s usual to see a drop in house prices at this time of year.

So, how do average prices vary according to where you live, or where you might be thinking of moving to? We’ve taken a look at the different regions and countries across Great Britain, as well as some homes currently for sale in each area.

North East

Average asking price Nov 22: £179,504
% change since last month: -1.6%

When it comes to average asking prices, the North East is the most affordable region in England. And even though we’ve seen a drop in the region this month, the average price of a home is still 9.1% higher than during the same period in 2021.

Scotland

Average asking price Nov 22: £182,388
% change since last month: -2.2%

Homes are selling the fastest in Scotland. It currently takes an average of 25 days for new sellers to find a buyer.

Yorkshire & the Humber

Average asking price Nov 22: £241,858
% change since last month: -0.7%

Yorkshire & the Humber has seen the biggest annual increase in asking prices. And even with this month’s price drop, the cost of a home is 10.3% higher than the same period last year.

North West

Average asking price Nov 22: £248,790
% change since last month: -1.1%

The average asking price of a home in the North West region of England is well below the national average, at £248,790.

Wales

Average asking price Nov 22: £253,832
% change since last month: -3%

The average asking price of a home in Wales is £253,832, and on average, it takes sellers 43 days to find a buyer.

West Midlands

Average asking price Nov 22: £284,908
% change since last month: -1.4%

In England, homes are selling the fastest in the West Midlands region at the moment, where it’s taking an average of 36 days to find a buyer. Asking prices have risen 9.6% annually, but are still well below the national average.

East Midlands

Average asking price Nov 22: £285,164
% change since last month: -0.6%

The average asking price of a home in the East Midlands is just over £285,000, which is almost identical to its West Midlands neighbour.

South West

Average asking price Nov 22: £386,357
% change since last month: -1.8%

The average asking price of a home in the South West is closest in line with the national average, at £386,357. It takes an average of 37 days for sellers to find a buyer for their home.

East of England

Average asking price Nov 22: £424,884
% change since last month: -0.1%

The East of England region has seen the smallest monthly drop in asking prices this month, at just 0.1%.

South East

Average asking price Nov 22: £485,847
% change since last month: -1.8%

The South East is the second most expensive region in England, behind London. Asking prices are up 6.6% when compared to the same period in 2021, and it takes an average of 41 days to find a buyer.

London

Average asking price Nov 22: £682,422
% change since last month: -1.9%

The average asking price of a home in London is £682,422, which is still more than 5% higher than a year ago, despite a monthly price fall.

The header image for this article was provided courtesy of Killens, Wells.

READ MORE: How much stamp duty tax will you pay when buying a home?