Homeward Bound
Homeward bound: 74 per cent house price growth over twenty years and affordability barriers price Brits out of their childhood hometowns
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House prices across the UK have increased by an average of 74 per cent, over the last 20 years, from £113,900 to £268,200
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52 per cent of Brits have said they would consider a move back to the area where they grew up
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South East and Eastern England have registered a significant jump in house prices, increasing by 87 per cent in both regions, with Elmbridge in Surrey seeing biggest increase in house prices, up from £338,800 to £712,700
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Affordability has improved significantly in northern regions, particularly in the North East where average house prices have increased by 39 per cent, the smallest increase across the UK over the last 20 years
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In Blackpool, average house prices have increased by just 26 per cent, with homes costing £124.300, up from £98,400 in 2005
The nostalgic dream of returning to one’s childhood town has, for many, become an unattainable reality, as new analysis1 from Zoopla, one of the UK’s leading property websites, reveals significant property price increases in certain areas of the UK over the last twenty years have placed this dream firmly out of reach.
House prices across the UK have increased by an average of 74 per cent, over the last 20 years, from £113,900 to £268,200, with house price to earnings ratios staying broadly in line at 6.42. However, house price increases vary significantly across some regions, making some areas unaffordable for the 52 per cent of Brits who say that they would consider a move back to their hometown3.
Two decades of soaring house prices in the South East and Eastern England
Whilst London has seen significant house price increases (119 per cent) over the last twenty years, house prices in the South East and Eastern England have also registered a significant jump, increasing by 87 per cent in both regions. House price to earnings ratios have also increased in both regions, from 7.8 to 8.6 in the South East and 7.1 to 7.7 in Eastern England.
Table 1: Percentage increase in house prices over 20 years
|
Region
|
Avg house price in 2025 |
Avg house price in 2005 |
Percentage increase |
|
London |
£534,400 |
£244,200 |
119% |
|
South East |
£385,400 |
£206,100 |
87% |
|
Eastern England |
£337,500 |
£180,600 |
87% |
|
South West |
£312,000 |
£179,300 |
74% |
|
East Midlands |
£231,000 |
£136,100 |
70% |
|
West Midlands |
£233,700 |
£139,800 |
67% |
|
Wales |
£206,500 |
£125,600 |
64% |
|
Scotland |
£168,000 |
£103,100 |
63% |
|
North West |
£200,800 |
£126,300 |
59% |
|
Yorkshire and the Humber |
£190,400 |
£121,200 |
57% |
|
North East |
£146,400 |
£115,800 |
26% |
|
UK |
£268,200 |
£154,300 |
74% |
Source: Zoopla House Price Index, May 2025
Within the South East, the town of Elmbridge in Surrey has seen the biggest average increase in house prices over the last two decades, up from £338,800 to £712,700 (a 110 per cent increase). Despite its high property prices, the area’s excellent transport links to London and picturesque countryside lifestyle make it a highly attractive location for families in the region. However, there are also more affordable areas in the South East, with Southampton in Hampshire registering the lowest average price increases in the region over the last 20 years, up 63 per cent from £138,500 to £225,500.
In Eastern England, average house prices in St Albans have seen the most significant increase in the region since 2005, up from £298,600 to £622,100 (108 per cent). Just 25 miles away from London, the city is popular with commuters as well as history enthusiasts due to its spectacular cathedral and Roman architecture. However, like the South East, there are more affordable pockets in Eastern England, with the popular coastal town Great Yarmouth seeing the lowest growth in average house price increases in the region over the last 20 years, up 77 per cent from £105.900 to £187,700 (77 per cent).
Table 2: Local authority with largest price increase per region over 20 years
|
Region
|
Local authority4
|
Current price |
Price in 2005 |
% increase |
£ increase |
|
London |
Kensington and Chelsea |
£1,130,400 |
£504,000 |
124% |
£626,400 |
|
South East |
Elmbridge |
£712,700 |
£338,800 |
110% |
£373,900 |
|
Eastern England |
St. Albans |
£622,100 |
£298,600 |
108% |
£323,500 |
|
South West |
Cotswold |
£458,800 |
£255,700 |
79% |
£203,100 |
|
North West |
Trafford |
£349,300 |
£196,100 |
78% |
£153,200 |
|
East Midlands |
South Northamptonshire |
£381,600 |
£214,300 |
78% |
£167,300 |
|
Scotland |
Edinburgh |
£276,800 |
£160,100 |
73% |
£116,700 |
|
Wales |
Monmouthshire |
£335,800 |
£197,500 |
70% |
£138,300 |
|
West Midlands |
Stratford-on-Avon |
£382,000 |
£225,800 |
69% |
£156,200 |
|
Yorkshire and the Humber |
Harrogate |
£349,300 |
£216,000 |
62% |
£133,300 |
|
North East |
Northumberland |
£189,800 |
£136,900 |
39% |
£52,900 |
Source: Zoopla House Price Index, May 2025
North East most affordable region for nostalgic movers
Those born and raised in the North East who have since moved away but would like to return, might find this dream more attainable than those in other parts of the UK. Average house prices have increased by 39 per cent, the smallest increase across all regions, while the house price to earnings ratios have improved the most in the region compared to the rest of the UK, falling from 5.7 to 4 over the last twenty years. Sunderland, a vibrant city on the North East coast, has registered the lowest average house price increases in the region from £101,600 to £124,000 (22 per cent).
Elsewhere, affordability has also improved in the North West and Yorkshire, with house price to earnings ratios falling from 6 to 5.1 in the North West and 5.7 to 5 in Yorkshire. In Blackpool, a popular seaside resort on the North West coast, average house prices have increased by just 26 per cent, with homes costing £124.300, up from £98,400 in 2005. In Hull, the fourth largest city in Yorkshire, average house prices have increased by 49 per cent, or £38,100 over the last 20 years.
Table 3: Local authority with lowest price increase per region over 20 years
|
Region
|
Local authority
|
Current price |
Price in 2025 |
% increase |
£ increase |
|
London |
Barking and Dagenham |
£338,000 |
£165,000 |
105% |
£173,000 |
|
Eastern England |
Great Yarmouth |
£187,700 |
£105,900 |
77% |
£81,800 |
|
Wales |
Blaenau Gwent |
£133,700 |
£80,100 |
67% |
£53,600 |
|
South East |
Southampton |
£225,500 |
£138,500 |
63% |
£87,000 |
|
West Midlands |
Stoke-on-Trent |
£136,400 |
£86,800 |
57% |
£49,600 |
|
South West |
Plymouth |
£207,200 |
£133,000 |
56% |
£74,200 |
|
East Midlands |
Lincoln |
£175,200 |
£113,000 |
55% |
£62,200 |
|
Yorkshire and the Humber |
Hull |
£115,100 |
£77,000 |
49% |
£38,100 |
|
Scotland |
East Ayrshire |
£109,500 |
£79,500 |
38% |
£30,000 |
|
North West |
Blackpool |
£124,300 |
£98,400 |
26% |
£25,900 |
|
North East |
Sunderland |
£124,000 |
£101,600 |
22% |
£22,400 |
Source: Zoopla 2025
Daniel Copley, consumer expert at Zoopla, comments: “”Our latest analysis certainly brings to light the profound impact that two decades of house price growth has had on the dream of ‘returning home’. UK house prices have soared by 74 per cent since 2005, making that nostalgic return financially unattainable for many, especially in hotspots in the South East and Eastern England.
“However, the picture is far from uniform across the UK. Our data shows that while some areas have seen dramatic increases, house prices have risen slowly, in line with incomes in northern regions. This means that for some, the dream of returning to their roots might be much more attainable than they think.
“Zoopla has a wide range of affordability tools available for would-be buyers on its site to help you plan your next move, including a mortgage calculator that can help you to understand what you could afford based on your income.
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