The latest figures show that the average price for a Detached property in United Kingdom has now reached £443,180 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Detached property have increased substantially over the longer term in United Kingdom. Back in January 2005, prices for this type of property averaged £236,191 based on sales at the time. Fast forward to January 2024, and averages reached £425,643 - representing a growth of 80% over 19 years.
This substantial double-digit percentage rise in Detached property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Detached homes in United Kingdom over the past 2 decades.
