Property prices on the up

UK house prices up 7.2% in year to November, says ONS

Arrow up houses 700x450

UK house prices rose by 7.2 per cent in the year to November, according to the latest data from the Office for National Statistics.

The ONS’ UK House Price Index says the average UK house price was £218,000 in November 2016.

This is £14,000 higher than in November 2015 and £2,000 higher than October 2016.

The average price in England is now £234,000.

Wales saw house prices increase by 4.1 per cent over the last 12 months to stand at £147,000.

In Scotland, the average price increased by 3.3 per cent over the year to stand at £143,000.

The average price in Northern Ireland currently stands at £124,000.

London house prices rose 1.8 per cent month-on-month and 8.1 per cent year-on-year.

On a regional basis, London continues to be the region with the highest average house price at £482,000, followed by the South East and the East of England, which stand at £313,000 and £278,000 respectively.

The lowest average price continues to be in the North East at £127,000.

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