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Read more…Mortgage statistics 2024: Average UK mortgage size
From the average payment to how many outstanding mortgages there are, we explore the latest mortgage statistics in the UK.
We explore all the latest mortgage statistics, including average mortgage size, monthly payments and debt, to see how the market currently sits if you are looking for a mortgage deal.
Mortgage statistics UK: Highlights
- The average size of a mortgage taken out between October and December 2023 was £183,955.
- The average monthly mortgage repayment on a house in the UK is currently £1,202.
- On average, Brits are paying £728 a month for their share of the mortgage payment.
- The average outstanding mortgage debt per household in the UK is £127,140.
- In March 2024, the average 2-year fixed-rate mortgage interest rate for a 25% deposit was 4.97%, down from a high point of 6.22% in July 2023.
- As of December 2023, there were over 13 million outstanding mortgages in the UK totalling around £1.66 trillion.
- In February 2024, the average house price in the UK was £281,000.
What is the average mortgage size in the UK?
The average value of a mortgage taken out between October and December 2023 was £183,955. This is down 9.5% from a decade-high average mortgage size of £203,381 in the quarter from July to September 2022.
The number of mortgages taken out saw a dip in the last quarter of 2023, going under the 300,000 mark to 288,957. This is the biggest dip since June 2020 when the effects of the coronavirus lockdown hit the housing market hard.
| Period | Number of mortgages taken out per month | Average mortgage value (£) |
|---|---|---|
| Dec 24 | 288,957 | £183,955 |
| Sep 23 | 321,451 | £189,503 |
| Jun 23 | 291,667 | £176,222 |
| Mar 23 | 318,465 | £184,375 |
| Dec 22 | 406,393 | £195,788 |
| Sep 22 | 410,619 | £203,381 |
| Jun 22 | 390,352 | £196,174 |
| Mar 22 | 389,487 | £190,004 |
| Dec 21 | 376,794 | £180,818 |
| Sep 21 | 406,420 | £175,626 |
| Jun 21 | 445,146 | £193,426 |
| Mar 21 | 438,704 | £187,933 |
| Dec 20 | 413,212 | £183,281 |
What is the average monthly mortgage payment in the UK?
The average monthly mortgage repayment on a house in the UK is currently £1,202. This is based on the average house price in February 2024, the average 2-year fixed mortgage rate, a 25% deposit and a mortage length of 25 years.
The average monthly mortgage payment is £728 per person in the UK according to our 2024 survey. Our survey also found that mortgage holders are currently paying more per month than those renting in the UK, where traditionally, they would expect to pay less. The average person pays £770 in rent per month in the UK.
Average mortgage interest rates in the UK
The interest rate for a 2-year fixed-rate mortgage (75% LTV) was 4.97% in March 2024. In the same month, the average 5-year fixed-rate mortgage interest rate (75% LTV) was 4.71%.
While mortgage rates have historically stayed fairly consistent, they began increasing in the middle of 2022. The Bank of England increased the base rate to combat rising inflation, and this had a knock-on effect on mortgage interest rates. More recently, rates have started coming down again in anticipation that the Bank of England will start lowering the base rate.
The graph below shows the average rates for fixed-rate (75% LTV) mortgages, with the peak interest rate for a 2-year mortgage reaching 6.22% in July 2023. The average interest rate for a 75% LTV 5-year fixed-rate mortgage hit 5.71% in July 2023.
LTV ratio, or loan-to-value ratio, is the ratio of what you borrow as a mortgage. For example, with a 90% LTV mortgage, you would need to put down a 10% deposit. Those who can afford a lower LTV ratio are generally able to access better interest rates, but this can be harder for first-time buyers who can’t put down a large deposit.
| Month | 2 year fixed | 3 year fixed | 5 year fixed | 10 year fixed |
|---|---|---|---|---|
| Mar 24 | 4.97% | 4.71% | 4.53% | 4.78% |
| Feb 24 | 4.77% | 4.55% | 4.40% | 4.75% |
| Jan 24 | 4.73% | 4.77% | 4.44% | 4.68% |
| Dec 23 | 5.03% | 5.07% | 4.68% | 4.70% |
| Nov 23 | 5.28% | 5.27% | 4.89% | 4.89% |
| Oct 23 | 5.60% | 5.43% | 5.02% | 4.99% |
| Sep 23 | 5.91% | 5.79% | 5.24% | 5.10% |
| Aug 23 | 6.18% | 6.01% | 5.53% | 5.14% |
| Jul 23 | 6.22% | 5.93% | 5.71% | 5.16% |
| Jun 23 | 5.49% | 5.16% | 4.95% | 4.83% |
| May 23 | 4.72% | 4.46% | 4.28% | 4.40% |
| Apr 23 | 4.60% | 4.36% | 4.16% | 4.23% |
| Mar 23 | 4.74% | 4.56% | 4.26% | 4.33% |
| Feb 23 | 4.79% | 4.66% | 4.36% | 4.42% |
| Jan 23 | 5.14% | 4.88% | 4.66% | 4.86% |
| Dec 22 | 5.43% | 5.28% | 5.05% | 5% |
| Nov 22 | 5.98% | 5.63% | 5.50% | 5.33% |
| Oct 22 | 5.99% | 5.90% | 5.61% | 5.21% |
| Sep 22 | 4.17% | 4.45% | 3.97% | 4.17% |
| Aug 22 | 3.60% | 3.75% | 3.61% | 3.75% |
| Jul 22 | 3.48% | 3.32% | 3.43% | 3.57% |
| Jun 22 | 2.87% | 2.98% | 2.90% | 3.17% |
| May 22 | 2.63% | 2.56% | 2.62% | 2.78% |
| Apr 22 | 2.35% | 2.26% | 2.35% | 2.64% |
| Mar 22 | 2.14% | 2.03% | 2.11% | 2.50% |
What is the average mortgage debt in the UK?
The average outstanding mortgage debt in the UK in the last quarter of 2023 was estimated to be £127,140. There were around 13 million mortgage accounts active at the end of 2023, and the value of residential mortgage loans was £1,658 billion.
What is the average length of a mortgage in the UK?
25 years is often seen as the standard length for a mortgage. However, in 2022, half of first-time buyer mortgages had terms longer than 30 years, compared to a quarter in 2012, according to data from UK Finance.
Average house prices in the UK
The average UK house price in February 2024 was £281,000. The average price varies across regions of the UK, with an average price of £298,000 in England, £211,000 in Wales, £188,000 in Scotland and £178,000 in Northern Ireland.
The average house price in the UK had been rising since the banking crisis and market crash in 2007-2009 and reached a peak of £289,000 in September 2022.
However, house prices began to drop again in 2023 against a backdrop of high mortgage rates, going back down to an average price of £278,000 in March 2023. Since then, there have been slight increases in the average house price, with some fluctuation.
| Month | England | Scotland | Wales | Northern Ireland | UK average |
|---|---|---|---|---|---|
| Jan 05 | £158,572.00 | £123,815.00 | £93,982.00 | £111,920.00 | £150,633.00 |
| Feb 05 | £158,609.00 | £121,070.00 | £93,554.00 | £111,920.00 | £150,488.00 |
| Mar 05 | £159,642.00 | £123,052.00 | £96,638.00 | £111,920.00 | £151,723.00 |
| Apr 05 | £161,336.00 | £124,088.00 | £102,739.00 | £116,004.00 | £153,880.00 |
| May 05 | £163,064.00 | £126,541.00 | £103,815.00 | £116,004.00 | £155,533.00 |
| Jun 05 | £164,069.00 | £127,477.00 | £107,989.00 | £116,004.00 | £156,767.00 |
| Jul 05 | £165,756.00 | £130,529.00 | £110,003.00 | £123,386.00 | £158,786.00 |
| Aug 05 | £166,440.00 | £131,874.00 | £110,101.00 | £123,386.00 | £159,431.00 |
| Sep 05 | £166,168.00 | £131,307.00 | £110,188.00 | £123,386.00 | £159,183.00 |
| Oct 05 | £165,637.00 | £131,511.00 | £109,598.00 | £127,674.00 | £158,865.00 |
| Nov 05 | £166,303.00 | £130,826.00 | £108,994.00 | £127,674.00 | £159,337.00 |
| Dec 05 | £167,244.00 | £129,673.00 | £110,714.00 | £127,674.00 | £160,209.00 |
| Jan 06 | £166,544.00 | £129,914.00 | £109,380.00 | £131,302.00 | £159,970.00 |
| Feb 06 | £166,896.00 | £132,218.00 | £107,355.00 | £131,302.00 | £160,231.00 |
| Mar 06 | £168,001.00 | £133,581.00 | £111,484.00 | £131,302.00 | £161,531.00 |
| Apr 06 | £171,129.00 | £134,018.00 | £116,209.00 | £143,918.00 | £165,042.00 |
| May 06 | £172,699.00 | £135,043.00 | £118,876.00 | £143,918.00 | £166,606.00 |
| Jun 06 | £174,231.00 | £138,538.00 | £120,454.00 | £143,918.00 | £168,184.00 |
| Jul 06 | £176,164.00 | £138,355.00 | £122,702.00 | £160,529.00 | £170,604.00 |
| Aug 06 | £177,603.00 | £140,227.00 | £124,427.00 | £160,529.00 | £172,037.00 |
| Sep 06 | £178,275.00 | £140,180.00 | £126,392.00 | £160,529.00 | £172,738.00 |
| Oct 06 | £178,927.00 | £139,801.00 | £123,482.00 | £179,841.00 | £173,750.00 |
| Nov 06 | £179,718.00 | £141,553.00 | £125,396.00 | £179,841.00 | £174,644.00 |
| Dec 06 | £182,031.00 | £142,521.00 | £127,707.00 | £179,841.00 | £176,819.00 |
| Jan 07 | £181,824.00 | £139,760.00 | £126,699.00 | £198,950.00 | £176,758.00 |
| Feb 07 | £182,397.00 | £143,455.00 | £124,280.00 | £198,950.00 | £177,261.00 |
| Mar 07 | £183,712.00 | £141,453.00 | £129,092.00 | £198,950.00 | £178,636.00 |
| Apr 07 | £186,711.00 | £144,844.00 | £135,581.00 | £216,751.00 | £182,243.00 |
| May 07 | £188,814.00 | £145,951.00 | £138,765.00 | £216,751.00 | £184,330.00 |
| Jun 07 | £190,822.00 | £147,402.00 | £141,897.00 | £216,751.00 | £186,348.00 |
| Jul 07 | £193,360.00 | £147,245.00 | £141,815.00 | £224,670.00 | £188,691.00 |
| Aug 07 | £194,328.00 | £150,316.00 | £143,287.00 | £224,670.00 | £189,786.00 |
| Sep 07 | £194,764.00 | £149,164.00 | £142,294.00 | £224,670.00 | £190,032.00 |
| Oct 07 | £194,700.00 | £149,825.00 | £139,547.00 | £214,269.00 | £189,589.00 |
| Nov 07 | £194,502.00 | £148,509.00 | £141,524.00 | £214,269.00 | £189,489.00 |
| Dec 07 | £194,373.00 | £147,362.00 | £139,736.00 | £214,269.00 | £189,193.00 |
| Jan 08 | £191,750.00 | £146,364.00 | £138,388.00 | £198,362.00 | £185,782.00 |
| Feb 08 | £190,066.00 | £144,636.00 | £137,508.00 | £198,362.00 | £184,185.00 |
| Mar 08 | £188,657.00 | £141,503.00 | £137,848.00 | £198,362.00 | £182,845.00 |
| Apr 08 | £189,115.00 | £141,804.00 | £139,328.00 | £185,845.00 | £183,148.00 |
| May 08 | £189,777.00 | £142,749.00 | £145,641.00 | £185,845.00 | £184,267.00 |
| Jun 08 | £187,350.00 | £141,876.00 | £141,555.00 | £185,845.00 | £181,831.00 |
| Jul 08 | £185,844.00 | £137,901.00 | £139,710.00 | £168,076.00 | £179,845.00 |
| Aug 08 | £181,494.00 | £139,660.00 | £137,784.00 | £168,076.00 | £176,092.00 |
| Sep 08 | £177,232.00 | £132,625.00 | £132,420.00 | £168,076.00 | £171,660.00 |
| Oct 08 | £173,249.00 | £133,991.00 | £133,839.00 | £153,774.00 | £168,177.00 |
| Nov 08 | £168,230.00 | £131,304.00 | £129,820.00 | £153,774.00 | £163,447.00 |
| Dec 08 | £165,795.00 | £129,403.00 | £125,767.00 | £153,774.00 | £160,954.00 |
| Jan 09 | £162,673.00 | £125,021.00 | £124,484.00 | £140,190.00 | £157,234.00 |
| Feb 09 | £160,956.00 | £124,029.00 | £120,994.00 | £140,190.00 | £155,417.00 |
| Mar 09 | £159,340.00 | £123,104.00 | £125,727.00 | £140,190.00 | £154,452.00 |
| Apr 09 | £160,701.00 | £125,355.00 | £126,975.00 | £141,489.00 | £155,852.00 |
| May 09 | £162,740.00 | £127,350.00 | £130,699.00 | £141,489.00 | £158,004.00 |
| Jun 09 | £164,536.00 | £125,948.00 | £132,049.00 | £141,489.00 | £159,561.00 |
| Jul 09 | £167,673.00 | £128,279.00 | £133,126.00 | £141,864.00 | £162,423.00 |
| Aug 09 | £169,603.00 | £128,768.00 | £132,658.00 | £141,864.00 | £164,025.00 |
| Sep 09 | £171,214.00 | £129,232.00 | £131,727.00 | £141,864.00 | £165,314.00 |
| Oct 09 | £172,314.00 | £130,696.00 | £132,914.00 | £141,994.00 | £166,425.00 |
| Nov 09 | £172,818.00 | £131,131.00 | £134,183.00 | £141,994.00 | £166,986.00 |
| Dec 09 | £174,136.00 | £132,978.00 | £133,037.00 | £141,994.00 | £168,082.00 |
| Jan 10 | £174,458.00 | £127,733.00 | £128,973.00 | £135,701.00 | £167,469.00 |
| Feb 10 | £175,248.00 | £127,958.00 | £126,524.00 | £135,701.00 | £167,888.00 |
| Mar 10 | £174,765.00 | £130,677.00 | £128,897.00 | £135,701.00 | £167,878.00 |
| Apr 10 | £176,796.00 | £131,747.00 | £133,162.00 | £134,515.00 | £170,028.00 |
| May 10 | £177,754.00 | £132,483.00 | £132,977.00 | £134,515.00 | £170,846.00 |
| Jun 10 | £178,655.00 | £131,877.00 | £134,249.00 | £134,515.00 | £171,689.00 |
| Jul 10 | £180,519.00 | £134,036.00 | £135,444.00 | £132,164.00 | £173,427.00 |
| Aug 10 | £180,807.00 | £132,453.00 | £133,825.00 | £132,164.00 | £173,417.00 |
| Sep 10 | £180,231.00 | £133,167.00 | £133,756.00 | £132,164.00 | £172,972.00 |
| Oct 10 | £178,102.00 | £133,140.00 | £133,750.00 | £124,515.00 | £171,045.00 |
| Nov 10 | £176,301.00 | £127,443.00 | £131,509.00 | £124,515.00 | £169,013.00 |
| Dec 10 | £176,036.00 | £128,963.00 | £129,758.00 | £124,515.00 | £168,703.00 |
| Jan 11 | £174,442.00 | £127,771.00 | £129,746.00 | £119,024.00 | £167,300.00 |
| Feb 11 | £173,811.00 | £127,961.00 | £125,916.00 | £119,024.00 | £166,415.00 |
| Mar 11 | £173,046.00 | £125,133.00 | £126,172.00 | £119,024.00 | £165,649.00 |
| Apr 11 | £175,490.00 | £129,222.00 | £129,848.00 | £117,142.00 | £168,218.00 |
| May 11 | £174,668.00 | £128,085.00 | £129,832.00 | £117,142.00 | £167,470.00 |
| Jun 11 | £174,838.00 | £128,270.00 | £131,209.00 | £117,142.00 | £167,753.00 |
| Jul 11 | £177,164.00 | £128,564.00 | £133,429.00 | £115,108.00 | £169,866.00 |
| Aug 11 | £177,335.00 | £129,395.00 | £132,518.00 | £115,108.00 | £169,968.00 |
| Sep 11 | £176,783.00 | £131,017.00 | £131,949.00 | £115,108.00 | £169,544.00 |
| Oct 11 | £175,171.00 | £127,698.00 | £129,122.00 | £111,871.00 | £167,673.00 |
| Nov 11 | £175,200.00 | £130,415.00 | £128,206.00 | £111,871.00 | £167,757.00 |
| Dec 11 | £174,812.00 | £127,397.00 | £125,924.00 | £111,871.00 | £167,048.00 |
| Jan 12 | £174,179.00 | £127,097.00 | £125,728.00 | £104,712.00 | £165,908.00 |
| Feb 12 | £174,161.00 | £126,324.00 | £121,886.00 | £104,712.00 | £165,457.00 |
| Mar 12 | £174,323.00 | £126,231.00 | £125,412.00 | £104,712.00 | £165,947.00 |
| Apr 12 | £176,543.00 | £128,163.00 | £125,134.00 | £104,987.00 | £167,854.00 |
| May 12 | £177,026.00 | £128,349.00 | £126,455.00 | £104,987.00 | £168,395.00 |
| Jun 12 | £178,696.00 | £129,986.00 | £128,361.00 | £104,987.00 | £170,049.00 |
| Jul 12 | £179,756.00 | £129,342.00 | £127,491.00 | £102,086.00 | £170,701.00 |
| Aug 12 | £180,129.00 | £128,860.00 | £126,734.00 | £102,086.00 | £170,902.00 |
| Sep 12 | £179,563.00 | £127,952.00 | £125,823.00 | £102,086.00 | £170,295.00 |
| Oct 12 | £178,412.00 | £126,881.00 | £124,617.00 | £99,647.00 | £169,090.00 |
| Nov 12 | £178,662.00 | £128,452.00 | £123,166.00 | £99,647.00 | £169,227.00 |
| Dec 12 | £178,406.00 | £127,143.00 | £122,180.00 | £99,647.00 | £168,843.00 |
| Jan 13 | £176,816.00 | £127,584.00 | £122,594.00 | £97,428.00 | £167,716.00 |
| Feb 13 | £177,203.00 | £125,702.00 | £120,180.00 | £97,428.00 | £167,682.00 |
| Mar 13 | £178,189.00 | £126,975.00 | £121,357.00 | £97,428.00 | £168,681.00 |
| Apr 13 | £179,900.00 | £126,671.00 | £123,409.00 | £99,229.00 | £170,335.00 |
| May 13 | £180,621.00 | £128,640.00 | £125,358.00 | £99,229.00 | £171,234.00 |
| Jun 13 | £182,088.00 | £129,380.00 | £127,118.00 | £99,229.00 | £172,655.00 |
| Jul 13 | £184,274.00 | £128,501.00 | £128,421.00 | £101,165.00 | £174,592.00 |
| Aug 13 | £185,642.00 | £130,842.00 | £129,781.00 | £101,165.00 | £175,982.00 |
| Sep 13 | £186,082.00 | £130,085.00 | £127,777.00 | £101,165.00 | £176,098.00 |
| Oct 13 | £185,358.00 | £128,089.00 | £127,413.00 | £101,879.00 | £175,378.00 |
| Nov 13 | £186,260.00 | £130,029.00 | £128,629.00 | £101,879.00 | £176,352.00 |
| Dec 13 | £188,544.00 | £128,581.00 | £127,018.00 | £101,879.00 | £177,971.00 |
| Jan 14 | £188,265.00 | £131,603.00 | £127,007.00 | £103,570.00 | £178,182.00 |
| Feb 14 | £189,347.00 | £132,349.00 | £125,034.00 | £103,570.00 | £178,921.00 |
| Mar 14 | £190,037.00 | £130,464.00 | £126,650.00 | £103,570.00 | £179,537.00 |
| Apr 14 | £194,251.00 | £132,656.00 | £129,596.00 | £107,031.00 | £183,532.00 |
| May 14 | £196,171.00 | £135,527.00 | £131,677.00 | £107,031.00 | £185,476.00 |
| Jun 14 | £197,951.00 | £135,019.00 | £133,444.00 | £107,031.00 | £187,077.00 |
| Jul 14 | £200,825.00 | £135,571.00 | £135,161.00 | £109,116.00 | £189,709.00 |
| Aug 14 | £203,406.00 | £136,710.00 | £135,575.00 | £109,116.00 | £191,932.00 |
| Sep 14 | £203,639.00 | £138,218.00 | £134,807.00 | £109,116.00 | £192,138.00 |
| Oct 14 | £203,311.00 | £136,630.00 | £135,016.00 | £110,750.00 | £191,855.00 |
| Nov 14 | £202,704.00 | £136,898.00 | £133,334.00 | £110,750.00 | £191,209.00 |
| Dec 14 | £203,346.00 | £136,904.00 | £132,669.00 | £110,750.00 | £191,669.00 |
| Jan 15 | £202,856.00 | £136,148.00 | £134,956.00 | £110,940.00 | £190,665.00 |
| Feb 15 | £203,424.00 | £135,611.00 | £132,572.00 | £110,940.00 | £190,827.00 |
| Mar 15 | £203,360.00 | £135,231.00 | £139,792.00 | £110,940.00 | £191,537.00 |
| Apr 15 | £205,936.00 | £137,039.00 | £134,030.00 | £114,340.00 | £193,225.00 |
| May 15 | £208,265.00 | £137,553.00 | £135,678.00 | £114,340.00 | £195,313.00 |
| Jun 15 | £209,874.00 | £138,478.00 | £136,923.00 | £114,340.00 | £196,802.00 |
| Jul 15 | £213,518.00 | £139,213.00 | £139,051.00 | £117,716.00 | £200,142.00 |
| Aug 15 | £215,756.00 | £140,651.00 | £138,564.00 | £117,716.00 | £201,973.00 |
| Sep 15 | £216,350.00 | £140,248.00 | £138,246.00 | £117,716.00 | £202,389.00 |
| Oct 15 | £216,676.00 | £140,912.00 | £137,660.00 | £118,756.00 | £202,664.00 |
| Nov 15 | £218,500.00 | £140,974.00 | £138,475.00 | £118,756.00 | £204,223.00 |
| Dec 15 | £219,582.00 | £141,520.00 | £136,702.00 | £118,756.00 | £204,920.00 |
| Jan 16 | £220,361.00 | £140,015.00 | £136,790.00 | £118,851.00 | £205,464.00 |
| Feb 16 | £220,627.00 | £142,712.00 | £134,625.00 | £118,851.00 | £205,555.00 |
| Mar 16 | £222,663.00 | £141,617.00 | £136,243.00 | £118,851.00 | £207,667.00 |
| Apr 16 | £223,784.00 | £141,925.00 | £136,446.00 | £123,249.00 | £208,443.00 |
| May 16 | £226,370.00 | £144,296.00 | £138,256.00 | £123,249.00 | £210,872.00 |
| Jun 16 | £228,430.00 | £146,447.00 | £140,234.00 | £123,249.00 | £212,887.00 |
| Jul 16 | £230,868.00 | £146,353.00 | £142,294.00 | £124,730.00 | £215,127.00 |
| Aug 16 | £231,176.00 | £145,384.00 | £140,881.00 | £124,731.00 | £215,145.00 |
| Sep 16 | £230,848.00 | £144,976.00 | £140,533.00 | £124,731.00 | £214,816.00 |
| Oct 16 | £229,944.00 | £146,658.00 | £139,631.00 | £125,059.00 | £214,107.00 |
| Nov 16 | £231,053.00 | £146,278.00 | £140,852.00 | £125,059.00 | £215,113.00 |
| Dec 16 | £231,922.00 | £146,442.00 | £138,206.00 | £125,059.00 | £215,500.00 |
| Jan 17 | £231,593.00 | £146,395.00 | £138,356.00 | £124,786.00 | £215,243.00 |
| Feb 17 | £232,696.00 | £145,837.00 | £136,011.00 | £124,786.00 | £215,697.00 |
| Mar 17 | £231,760.00 | £147,794.00 | £136,891.00 | £124,786.00 | £215,236.00 |
| Apr 17 | £235,021.00 | £149,900.00 | £141,091.00 | £127,178.00 | £218,642.00 |
| May 17 | £236,727.00 | £147,428.00 | £142,070.00 | £127,178.00 | £219,954.00 |
| Jun 17 | £238,595.00 | £150,394.00 | £143,634.00 | £127,178.00 | £221,833.00 |
| Jul 17 | £241,406.00 | £151,028.00 | £147,566.00 | £128,878.00 | £224,719.00 |
| Aug 17 | £242,628.00 | £152,859.00 | £147,234.00 | £128,878.00 | £225,738.00 |
| Sep 17 | £242,041.00 | £153,227.00 | £144,530.00 | £128,878.00 | £224,895.00 |
| Oct 17 | £242,003.00 | £155,033.00 | £145,058.00 | £129,601.00 | £225,092.00 |
| Nov 17 | £241,086.00 | £153,109.00 | £146,350.00 | £129,601.00 | £224,453.00 |
| Dec 17 | £242,378.00 | £153,791.00 | £145,235.00 | £129,601.00 | £225,330.00 |
| Jan 18 | £241,061.00 | £153,128.00 | £146,889.00 | £130,292.00 | £224,544.00 |
| Feb 18 | £241,989.00 | £153,210.00 | £145,982.00 | £130,292.00 | £225,131.00 |
| Mar 18 | £240,428.00 | £154,022.00 | £144,655.00 | £130,292.00 | £223,772.00 |
| Apr 18 | £242,396.00 | £153,574.00 | £148,427.00 | £132,095.00 | £225,910.00 |
| May 18 | £243,445.00 | £154,756.00 | £148,621.00 | £132,095.00 | £226,834.00 |
| Jun 18 | £244,962.00 | £156,864.00 | £149,960.00 | £132,095.00 | £228,355.00 |
| Jul 18 | £247,981.00 | £158,626.00 | £151,777.00 | £134,619.00 | £231,187.00 |
| Aug 18 | £248,620.00 | £161,024.00 | £152,138.00 | £134,619.00 | £231,898.00 |
| Sep 18 | £248,248.00 | £160,265.00 | £151,446.00 | £134,619.00 | £231,454.00 |
| Oct 18 | £247,757.00 | £160,955.00 | £151,528.00 | £136,764.00 | £231,211.00 |
| Nov 18 | £246,940.00 | £160,158.00 | £149,556.00 | £136,764.00 | £230,224.00 |
| Dec 18 | £246,380.00 | £162,234.00 | £148,269.00 | £136,764.00 | £229,729.00 |
| Jan 19 | £244,641.00 | £158,548.00 | £149,769.00 | £135,434.00 | £228,314.00 |
| Feb 19 | £244,427.00 | £159,018.00 | £146,892.00 | £135,434.00 | £227,738.00 |
| Mar 19 | £242,982.00 | £159,904.00 | £149,625.00 | £135,434.00 | £227,104.00 |
| Apr 19 | £244,662.00 | £161,456.00 | £150,794.00 | £136,960.00 | £228,749.00 |
| May 19 | £244,928.00 | £161,628.00 | £151,417.00 | £136,960.00 | £229,061.00 |
| Jun 19 | £245,846.00 | £162,908.00 | £152,680.00 | £136,960.00 | £230,049.00 |
| Jul 19 | £248,468.00 | £164,440.00 | £154,776.00 | £139,838.00 | £232,618.00 |
| Aug 19 | £249,221.00 | £168,215.00 | £154,195.00 | £139,838.00 | £233,366.00 |
| Sep 19 | £249,637.00 | £164,414.00 | £154,874.00 | £139,838.00 | £233,536.00 |
| Oct 19 | £248,842.00 | £166,281.00 | £153,953.00 | £140,141.00 | £232,919.00 |
| Nov 19 | £247,867.00 | £168,516.00 | £152,528.00 | £140,141.00 | £232,096.00 |
| Dec 19 | £248,097.00 | £166,433.00 | £150,287.00 | £140,141.00 | £231,792.00 |
| Jan 20 | £247,898.00 | £163,205.00 | £153,518.00 | £140,722.00 | £231,940.00 |
| Feb 20 | £246,739.00 | £165,953.00 | £149,582.00 | £140,722.00 | £230,609.00 |
| Mar 20 | £249,121.00 | £167,040.00 | £150,625.00 | £140,722.00 | £232,684.00 |
| Apr 20 | £246,424.00 | £160,039.00 | £151,779.00 | £140,841.00 | £230,318.00 |
| May 20 | £247,499.00 | £162,701.00 | £152,914.00 | £140,841.00 | £231,508.00 |
| Jun 20 | £250,739.00 | £167,384.00 | £155,329.00 | £140,841.00 | £234,703.00 |
| Jul 20 | £253,226.00 | £168,416.00 | £154,582.00 | £143,723.00 | £236,687.00 |
| Aug 20 | £255,802.00 | £172,999.00 | £154,707.00 | £143,723.00 | £238,998.00 |
| Sep 20 | £258,155.00 | £170,030.00 | £160,585.00 | £143,723.00 | £241,541.00 |
| Oct 20 | £259,592.00 | £175,948.00 | £163,019.00 | £147,475.00 | £243,575.00 |
| Nov 20 | £262,409.00 | £178,255.00 | £164,032.00 | £147,475.00 | £246,065.00 |
| Dec 20 | £264,971.00 | £181,274.00 | £162,375.00 | £147,475.00 | £247,983.00 |
| Jan 21 | £266,588.00 | £181,118.00 | £164,940.00 | £149,084.00 | £249,690.00 |
| Feb 21 | £267,192.00 | £179,554.00 | £161,847.00 | £149,084.00 | £249,586.00 |
| Mar 21 | £270,627.00 | £184,807.00 | £167,913.00 | £149,084.00 | £253,506.00 |
| Apr 21 | £267,500.00 | £182,377.00 | £161,814.00 | £154,323.00 | £250,210.00 |
| May 21 | £267,295.00 | £185,654.00 | £168,589.00 | £154,323.00 | £251,285.00 |
| Jun 21 | £284,252.00 | £196,221.00 | £172,341.00 | £154,323.00 | £265,676.00 |
| Jul 21 | £267,745.00 | £187,050.00 | £175,659.00 | £159,098.00 | £252,960.00 |
| Aug 21 | £276,457.00 | £192,019.00 | £178,076.00 | £159,098.00 | £260,429.00 |
| Sep 21 | £286,832.00 | £198,146.00 | £178,865.00 | £159,098.00 | £269,003.00 |
| Oct 21 | £279,281.00 | £200,151.00 | £179,557.00 | £159,073.00 | £263,333.00 |
| Nov 21 | £284,149.00 | £199,006.00 | £181,578.00 | £159,073.00 | £267,370.00 |
| Dec 21 | £285,784.00 | £201,586.00 | £177,057.00 | £159,073.00 | £268,115.00 |
| Jan 22 | £290,016.00 | £204,946.00 | £183,157.00 | £163,877.00 | £272,738.00 |
| Feb 22 | £290,774.00 | £202,482.00 | £178,491.00 | £163,877.00 | £272,454.00 |
| Mar 22 | £292,146.00 | £204,321.00 | £179,517.00 | £163,877.00 | £273,787.00 |
| Apr 22 | £294,983.00 | £209,044.00 | £183,846.00 | £169,296.00 | £277,168.00 |
| May 22 | £299,085.00 | £210,096.00 | £186,928.00 | £169,296.00 | £280,903.00 |
| Jun 22 | £301,262.00 | £212,812.00 | £189,576.00 | £169,296.00 | £283,164.00 |
| Jul 22 | £307,594.00 | £216,599.00 | £192,443.00 | £175,793.00 | £289,025.00 |
| Aug 22 | £310,564.00 | £217,830.00 | £192,746.00 | £175,793.00 | £291,452.00 |
| Sep 22 | £311,771.00 | £222,543.00 | £191,176.00 | £175,793.00 | £292,404.00 |
| Oct 22 | £311,570.00 | £222,113.00 | £191,749.00 | £175,135.00 | £292,288.00 |
| Nov 22 | £312,311.00 | £219,831.00 | £190,597.00 | £175,135.00 | £292,552.00 |
| Dec 22 | £311,717.00 | £221,827.00 | £185,402.00 | £175,135.00 | £291,361.00 |
| Jan 23 | £309,097.00 | £216,285.00 | £184,711.00 | £172,005.00 | £288,778.00 |
| Feb 23 | £308,921.00 | £215,393.00 | £183,505.00 | £172,005.00 | £288,363.00 |
| Mar 23 | £304,193.00 | £214,174.00 | £184,877.00 | £172,005.00 | £285,009.00 |
House-prices-to-earnings ratio: How does your region compare?
The house-price-to-earnings ratio is a way to calculate the affordability of housing by dividing house prices by salary. This varies between regions as both house prices and salaries change.
On average in England and Wales, house prices are 8.1 times the average salary. The ratio is most extreme in London, where house prices are currently 12.7 times higher than the average yearly salary. Those in the North East of England are in the best position, as house prices here are only 4.9 times earnings.
| Region | House price to earnings ratio |
|---|---|
| London | 13.33 |
| South East | 10.38 |
| East of England | 9.55 |
| South West | 9.3 |
| East Midlands | 7.31 |
| West Midlands | 7.17 |
| Wales | 6.16 |
| North West | 6.16 |
| Yorkshire & Humber | 6.07 |
| North East | 4.87 |
Mortgage arrears and possession statistics
There were 93,680 homeowner mortgages in arrears of 2.5% or more in the last quarter of 2023. This is a 7% increase from the previous quarter. 540 properties with a homeowner mortgage were taken into possession in the last quarter of 2023.
Sources and methodology
- To find the average mortgage payment per person, Finder commissioned Censuswide in April 2024 to carry out a nationally representative survey of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
- ONS
- Bank of England
- FCA
- UK Finance
Click here for more research. For all media enquiries, please contact
Matt Mckenna
Head of UK communications
T: +44 20 8191 8806
Head of UK communications
T: +44 20 8191 8806
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