UK House Prince Index Summary | Q4 2020

Market Report provided by UK Office for National Statistics
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UK average house prices increased by 7.6% over the year to November 2020, up from 5.9% in October 2020, to stand at a record high of £250,000; this is the highest annual growth rate the UK has seen since June 2016. Average house prices increased over the year in England to £267,000 (7.6%), Wales to £180,000 (7.0%), Scotland to £166,000 (8.6%) and Northern Ireland to £143,000 (2.4%). London’s average house price surpassed £500,000 for the first time in November 2020. The North East is the final English region to surpass its pre-economic downturn average house price peak of July 2007, to now stand at £140,000. The Office for National Statistics (ONS) has released a public statement on the coronavirus (COVID-19) and the production of statistics; Section 7: Measuring the data describes the situation in relation to the UK House Price Index (HPI).

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