House prices at record levels
![Pexels blue bird 7218181](https://prestonbaker.imgix.net/https%3A%2F%2Fprestonbaker.co.uk%2Fassets%2Fuploads%2Fadvice%2Fpexels-blue-bird-7218181.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=475&w=640&s=0ada6c7297a37c31e8ff7286c1a5cb04 640w, https://prestonbaker.imgix.net/https%3A%2F%2Fprestonbaker.co.uk%2Fassets%2Fuploads%2Fadvice%2Fpexels-blue-bird-7218181.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=475&w=768&s=f708b3e526ee166e9a9086d27c14b2e2 768w, https://prestonbaker.imgix.net/https%3A%2F%2Fprestonbaker.co.uk%2Fassets%2Fuploads%2Fadvice%2Fpexels-blue-bird-7218181.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=530&w=1024&s=41efa0c5a31d512493d5ccb5220366b1 1024w, https://prestonbaker.imgix.net/https%3A%2F%2Fprestonbaker.co.uk%2Fassets%2Fuploads%2Fadvice%2Fpexels-blue-bird-7218181.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=500&w=1280&s=6aa973033ffb386fa3dfe2845124b7b6 1280w, https://prestonbaker.imgix.net/https%3A%2F%2Fprestonbaker.co.uk%2Fassets%2Fuploads%2Fadvice%2Fpexels-blue-bird-7218181.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=502&w=2000&s=b79ddad480252d69d27729d78c0a6302 2000w)
Prices up 10.9%
The average house price in the UK in February was £27,000 up on a year earlier as it reached a record £277,000, reveals newly-released official data.
Prices were up by 10.9% in February 2022 against the same month on 2021, reports the Office for National Statistics (ONS).
This showed an increase in price growth after it reported a 10.2% rise in January 2022.
The increase in houses prices in February was above the expectations of experts, who had forecast a rise of 10.1%.
House prices at record levels
House prices statistician at the ONS, Ceri Lewis, said: “House prices rose again this month, with prices in the UK and England now at record levels.
“The fast rise in UK rental prices also continued, with their highest annual growth in nearly six years.
“All nations and regions saw increases, with London experiencing its strongest rise in a year.”
Average house prices rose over the year in England to £296,000 (10.7%), in Wales to £205,000 (14.2%), in Scotland to £181,000 (11.7%) and in Northern Ireland to £159,000 (7.9%). London continues to be the area with the lowest annual growth at 8.1%.
Find out how much your house is worth
Find out how much your house is worth; book a free property valuation and consultation with Preston Baker Estate and Letting Agents.
Book your free property valuation now.