House prices hit record high as Theresa May vows to build more homes


The latest figures from the Office for National Statistic (ONS) revealed that prices are continuing to rise across the UK, with north-west England at the head of the surge.

The average house price in the UK hit £226,367 according to ONS data from September, which is up £11,000 from a year earlier. This is a 0.4% increase from August’s price of £225,956, and means that the UK has seen annual price growth of 5.4%.

England took the lead with an average surge of 5.7% over the 12-month period, followed by Wales with a 5.3% rise and Scotland with just 3.1%.

Theresa May today made a speech in north London’s Barnet promising to tackle the housing crisis by building “more homes, more quickly”, in response to the fact that the shortage and pricing of housing will be a key issue in next week’s Autumn Budget.

She said: “We must get back into the business of building good quality new homes for people who need them most.

“That is why I have made it my mission to build the homes the country needs and take personal charge of the Government’s response.”

Regional change

The north-west of England has seen the most significant rise in the last year, climbing by 7.3%, while London reported just a small uptick of 2.5% over the year. The recent five-year forecast by Savills shows that this trend is likely to continue for the foreseeable future.

The average cost of a home in London is currently £483,568, well above the national average, so the slowdown in prices will be welcomed by those trying to get onto the property ladder in the capital. Meanwhile, north-west average house prices remain well below the national average at £160,951.

The news this week that housing associations are to be reclassified as private organisations will mean £70bn of debt will be removed from the government’s balance sheet. The move, which comes as part of the Autumn Budget, will allow them to build more affordable homes and create “a more stable investment environment”, according to communities secretary Sajid Javid.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800


Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator


Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.


Not a member? Sign up for free

house prices high

House prices hit record high as Theresa May vows to build more homes


By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.