What’s the Average Price Paid for a Flat in the UK?
Flats and apartments account for just over 21% of the UK’s housing stock. Although they are generally more affordable than houses, there are notable price disparities across different regions. Over the past year, both the average prices and the number of flat sales have varied significantly by area.
Flats and apartments make up just over 21% of the UK’s housing stock and while they’re typically more affordable than houses, the price differences across the country are quite stark. Over the last 12 months, average flat prices and volumes of sales have shown significant variation depending on region.
Here’s what the data reveals:
- London – £548,104 (42,954 sales)
- South East – £247,597 (25,557 sales)
- South West – £227,529 (13,916 sales)
- East Anglia – £229,308 (12,528 sales)
- North West – £176,056 (10,776 sales)
- West Midlands – £155,592 (7,196 sales)
- Yorkshire and Humberside – £164,385 (5,905 sales)
- East Midlands – £149,227 (3,720 sales)
- North East – £128,550 (3,862 sales)
- Wales – £161,236 (2,914 sales)
- Scotland – £157,392 (25,574 sales)
- Northern Ireland – £152,717 (842 sales)
Interesting insights:
- London’s average flat price is over four times higher than in the North East.
- The South East and Scotland each saw over 25,000 flat sales, showing strong demand.
- Northern Ireland recorded the fewest flat sales, although that is expected due to the size of the region.
- The gap between the North East and South East is £119,047—a clear sign of the north-south divide in flat values.
Whether you're an investor, downsizer, or first time buyer, understanding these trends is essential when weighing up your options.