UK property values have risen by an average of 74% in the past two decades, according to Zoopla. – TNT

Residential property prices across the UK have increased by an average of 74%, over the last 20 years, from £113,900 to £268,200, with house price to earnings ratios staying broadly in line at 6.42, new research by Zoopla has revealed.

Unsurprisingly, house price increases vary significantly across some regions, led by gains in London, the South East and Eastern England.

Whilst London has seen significant house price increases (119%) over the last twenty years, house prices in the South East and Eastern England have also registered a significant jump, increasing by 87% 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.

Percentage increase in house prices over 20 years:

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% 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%). 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%).

Table 2: Local authority with largest price increase per region over 20 years

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%).

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%, or £38,100 over the last 20 years.

Table 3: Local authority with lowest price increase per region over 20 years

Source: Zoopla 2025

Daniel Copley, consumer commentator at Zoopla, said: “”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% 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.”