Average UK House Price Hits New Record High In October
Wed, 16th Dec 2020 11:17
(Alliance News) - The average UK house price hit a record high of GBP245,000 in October – also marking a GBP13,000 increase on a year earlier – according to official figures.
House prices increased by 5.4% over the year to October, up from 4.3% in September, according to the Office for National Statistics, which said a stamp duty holiday may be allowing sellers to request higher prices.
The ONS said this is the highest annual growth rate the UK has seen since October 2016.
England, Scotland and Wales all saw record high average prices in October.
Britain s property hotspots that have seen the biggest increase in value in 2020 have been revealed.
The UK saw its highest annual house price growth for almost three years, with a rise of 3.5 per cent since the start of the year.
The North West, Yorkshire and the Humber, and Wales saw the highest growth in property values in 2020, each seeing growths of more than 4 per cent.
It comes after a study showed that the average house price in the UK has increased by £15,000 since June.
Britain s property hotspots that have seen the biggest increase in value in 2020 have been revealed. The UK saw its highest annual house price growth for almost three years, with a rise of 3.5 per cent since the start of the year