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January, 2020
Office for National Statistics: House price growth highest since 2018

House prices rose by 2.2% to an average of £235,298 in the year to November, the latest index from the Office for National Statistics and the Land Registry shows.

November’s increase marked the highest annual growth rate since 2018 and was up from 1.3% in the year to October.

At a country level, Wales saw the strongest annual growth with prices up by 7.8% to £172,574 in the year to November.

The ONS says this represents record growth and was the result of high value sales in areas like Cardiff and Newport as well as a drop in prices in the same month of 2018.

In Northern Ireland, which uses a different reporting timetable, prices rose by 4% to £139,951 in the third quarter compared to the same three months of 2018.

House prices in Scotland rose by 3.5% to £154,798 year on year.

England saw the weakest growth with prices up by 1.7% to £251,222.

Within England, the lowest growth was in the East where prices were down by 0.7% year on year to £291,281.

In London prices rose by 0.2% annually to £475,458.