UK house prices up 2.3% in July
UK house prices are up again by 2.3%, according to the latest figures from the ONS. However, there are big differences between different parts of the UK.
This is on top of recent increases in previous months, although the rate of increases is slowing down.
Average house prices are now;
- UK overall £238,000
- England £255,000
- Wales £170,000
- Scotland £155,000
- Northern Ireland £141,000
According to the ONS;
“Over the past three years, there has been a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England. The beginning of 2020 saw a pick up in annual growth in the housing market before the coronavirus (COVID-19) restrictions were put in place at the end of March 2020.”
This chart shows average UK house prices back to 2005.
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You can read the ONS press release here.
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Graph from the ONS press release.