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House prices rise 6.7%



House prices jumped 1.1% in November as the market recovered from post-Brexit referendum uncertainty, according to the Office for National Statistics.

Official figures released today showed house prices grew month-on-month in November by 1.1%. This follows a period of flatlining growth, with monthly increases of just 0.1% in October and 0.2% in September respectively.

The Office for National Statistics (ONS) said: “Housing market indicators for November suggested a period of modest increasing demand and steady growth in price levels.”

It pointed to analysis by the Bank of England showing the “market has recovered following a period of weakness after the EU referendum and stamp duty changes but remains weak in central London”.

The latest figures show the average price of a property in the UK was £217,928 in November, up 6.7% year-on-year.

The highest monthly percentage increase was in the West Midlands, which recorded a 2.2% increase to £181,372. Prices increased everywhere in the UK, with the exception of Wales, which saw a 0.2% decrease.

The figures also showed annual house price growth in London (8.1%) fell behind the East and South East, which recorded increases of 10.5% and 8.6% respectively.


Country/region Price Monthly change Annual change
England £234,278 1.1% 7.2%
Northern Ireland (Quarter 3 - 2016) £124,093 0.8% 5.4%
Scotland £143,033 1.5% 3.3%
Wales £146,742 -0.2% 4.1%
East Midlands £176,524 1.7% 7.3%
East of England £278,349 0.9% 10.5%
London £481,648 1.8% 8.1%
North East £126,989 1.3% 3.2%
North West £150,249 1.1% 5.2%
South East £313,334 0.3% 8.6%
South West £239,371 0.5% 5.7%
West Midlands Region £181,372 2.2% 7.4%
Yorkshire and The Humber £152,418 1.1% 5.1%
Source: ONS

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