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Average house price up £27,000 in year

House prices at record levels

Originally posted: 19th April, 2022

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%.

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