New ONS data points to 10% rate of UK house price inflation20 January 2022
Average UK house prices grew by 10% in the year to November, 2021, according to new data published by ONS.
The data, calculated using data from HM Land Registry, Registers of Scotland, and Land and Property Services Northern Ireland, shows the average UK house price was £271,000 in November 2021, which is £25,000 higher than this time last year.
Average house prices increased over the year in England to £288,000 (9.8%), in Wales to £200,000 (12.1%), in Scotland to £183,000 (11.4%) and in Northern Ireland to £159,000 (10.7%).
London continues to be the region with the lowest annual growth at 5.1%.
ONS warns that because of the impact of the coronavirus (COVID-19) pandemic on both the number and supply of housing transactions, there might be larger revisions to the published UK House Price Index (HPI) estimates than usual.
“There may be increased volatility in this month's estimates, particularly at the lower geographical levels where transaction volumes are smaller,” it said. “We are looking at options to improve this, including working with data suppliers.”