UK House Price Inflation At 10-Month High: ONS

UK House Price Inflation At 10-Month High: ONS

22 March 2016, 12:03
Roberto Jacobs
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UK House Price Inflation At 10-Month High: ONS

British house price inflation accelerated at the start of the year to the highest level in ten months, figures from the Office for National Statistics showed Tuesday.

The house price index climbed 7.9 percent year-over-year in January, faster than the 6.7 percent spike in the previous month. In November, the rate of growth was 7.7 percent.

The latest rate of increase was the sharpest since March 2015, when prices had grown 9.6 percent.

The average UK mix-adjusted house prices in January was GBP 292,000.

Annual house price inflation in England alone was 8.6 percent in January. Excluding London and the South East, UK house prices went up 5.1 percent in the twelve months to January.

On a monthly basis, house prices rose a seasonally adjusted 0.9 percent in January, after remaining flat in December, which was revised from a 0.2 percent fall reported earlier.

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