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UK House Prices Up 13%

UK house prices in June rose 13.2 per cent on the previous year and 4.5 per cent up on May’s figures, according to the latest figures from the Office of National Statistics.

The average house price is £265,668.

Detached houses had the highest annual price growth of 15.6 per cent, bringing the average price to £410,054. Flats and maisonettes experienced the lowest growth of 8.4 per cent at an average price to £221,211. 

New-build properties showed a 14.4 per cent annual price growth with an average price of £337,377 compared to £246,310 for resold properties (up 9.1 per cent).

First-time buyers paid an average £222,712 (up 12.7 per cent).

The north west recorded the strongest annual growth at 18.6 per cent while London showed the weakest growth at 6.3 per cent. The UK’s second-largest mortgage lender Nationwide Building Society reported similar annual house price growth of 13.4 per cent in June - the highest level since November 2004. The lender’s figures in July fell back to an annual increase of 10.5 per cent.

1 September 2021

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