Residential Sales Value Portal
Welcome to Lambert Smith Hampton’s Residential Sales Values Portal (RSVP), your visual guide to residential per sq ft values across the UK. The map utilises a variety of statistics to illustrate key residential pricing indices at the local authority level. Simply click on the map below to assess residential values, property prices and prevailing affordability levels across the UK.
Notes: Right click to zoom in. If map values are not being displayed, please delete cache from your browser
| VARIABLE | YEAR | MEASURE | LEVEL MEASURMENT | SOURCE |
| AVG PER SQ FT | 2022/23 | Average price per sq ft for property | Local Authority | LSH Research, Property Data |
| AVG PER SQ FT LOCAL AUTHORITY RANGE | 2022/23 | Maximum and minimum average price per sq ft of postcode sectors within local authority | Local Authority | LSH Research, Property Data |
| AVG PROPERTY | Q4 2022 | Average transaction price for property | Local Authority/Council | Land Registry, Ulster University |
| AVG PROPERTY PRICE 12 MONTH CHANGE | Q4 2022-Q4 2021 | 12 month % change in average transaction price for property | Local Authority/Council | LSH Research |
| INCOME PRICE RATIO | 2022 | Ratio of median house price (existing dwellings) to median gross annual (where available) residence-based earnings | Local Authority | ONS |
London values tower over the rest of the UK
While average residential prices across Greater London (-1.6%) saw a greater fall than the wider UK during H1 2023 (-0.6%), as ever the capital remains by a distance the most expensive area of the UK. At the mid-point of 2023, average values in the capital equated to £733 per sq ft, 78% higher than the average for the South East, the second most expensive region of the UK.
Average per sq ft pricing in Greater London is heavily skewed by its prime central districts, with Westminster commanding average values of £1,588 per sq ft. However, even when London’s prime inner districts are excluded, the rest of London’s average value of £610 per sq ft still towers above the South East average of £411 per sq ft.
The North East sits at the other end of the pricing spectrum, with the average price breaking down to £171 per sq ft. However, beyond the UK’s southernmost regions, average pricing is relatively uniform between the UK’s other regions with average values across the North West, Yorkshire & the Humber, the Midlands ranging between £216 to £263 per sq ft.
Sub-regional value variance
The district spread of average residential values within the UK regions is tightest in the North East, with the most expensive district of North Tyneside (£210 per sq ft) commanding a relatively modest 51% premium over the region’s least expensive district of Hartlepool (£139 per sq ft). The second lowest intra-regional variation between districts is seen in the South West, where the average price spread is 61% between the most expensive and least expensive districts.
Conversely, and beyond the extremes associated with Greater London, Scotland exhibits a substantial 159% spread in average prices between its constituent districts. Scotland is home to the cheapest district of anywhere in the UK, namely North Ayrshire (£130 per sq ft), and also the most expensive district outside of the UK’s southern regions, namely Edinburgh (£337 per sq ft).
Contrasting Corrections: Resilience of residential vs commercial values
While the UK housing market is in the midst of a modest price correction, its scale is unlikely to come close to that seen in the commercial property market. This could have important implications for investor decision-making.
Alongside our latest interactive map on per sq ft residential values, here we provide additional context on the latest trends, with regard to regional variations, growth and the relative position of residential values vis-à-vis the core commercial property sectors.
Modest correction underway
More recent evidence is indicative of a resumption of falling prices over the coming months. According to Hampton’s latest research, average UK house prices are forecast to fall by 2.5% overall in 2023 as the effect of high mortgage rates and sluggish conditions in the wider economy weigh on demand over the coming months.
However, stability is expected to return to the market in 2024, with Hamptons forecasting flat growth of 0% for the year. Key to this forecast is an expectation that the first interest rate cuts will come into effect during next year, providing some relief for would-be borrowers.
Commercial property endures sharper correction
The correction in the housing market has both lagged the commercial sectors and been far less severe. The abrupt change in financial conditions in Autumn 2022 prompted a significant and rapid correction in commercial property values. According to MSCI, over the 12 months to June 2023 average commercial property values dropped by 19% while average UK house prices on the ONS measure stand 1.7% higher.
However, viewed over the more recent period of H1 2023, the contrast in value movements between commercial and residential property values has been less pronounced. While average house prices dipped by 0.6% in H1 2023, average commercial values fell by 1.8% over the period, with most of the correction focused in the latter half of 2022.
A combination of factors explain the contrasting scale and timing of corrections between the residential and commercial sectors. While the endemic lack of supply associated with the UK housing market is certainly key, residential is arguably more insulated from financial market trauma given that demand for housing ownership typically extends beyond the need to generate a return on investment.
Industrial hit hardest
Of the commercial property sectors, industrial (i.e. logistics / warehousing) sector experienced the sharpest correction with values falling by a colossal 25% over the 12 months to June 2023. Extremely low yields in the sector proved unsustainable in the face of increased borrowing and construction costs, making a sharp readjustment of values unavoidable.
However, industrial values have started to recover more recently, with capital values in the sector increasing by 0.7% in H1 2023. Moreover, despite the severity of the correction, industrial remains the best performing asset class over the past ten years, with average annual capital growth of 7.5% comparing with 5.1% p.a. growth in residential values.
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