British House Prices Rise Again

British houses in April were 8.9 per cent more expensive than the year before, the Office for National Statistics said on June 16. The average property value is now £268,380.

House price growth was strongest in the north east where prices increased by 16.9 per cent in the year to April 2021. The lowest annual growth was in London, where prices increased by 3.3 per cent in the year to April 2021. An annual price rise of 3.3 per cent takes the average property value in London to £491,687.

The annual price rise of 8.9 per cent takes the average property value to £268,380.

Wales shows, on average, house prices have risen by 0.6 per cent since March 2021. An annual price rise of 15.6 per cent takes the average property value to £185,041.

The UK Property Transactions Statistics showed that in April 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 117,860. This is 179.6 per cent higher than a year ago. Between March and April 2021, UK transactions decreased by 35.7 per cent on a seasonally adjusted basis.

There were nine repossession sales for Wales in February 2021.

The lowest number of repossession sales in February 2021 was in the east of England and the south west.

The highest number of repossession sales in February 2021 was in the north west.

Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency.

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