Average UK house price was £271,000 in November

The average UK property price increased by 10% over the year to November 2021, up from 9.8% in October 2021, official figures have revealed. According to the Office for National Statistics house price index, the average UK house price was £271,000 in November. This was £25,000 higher than the same time the year prior. Jamie Johnson, CEO of FJP Investment, said the housing market "seemed to defy gravity” last year, as prices maintained an upwards climb throughout the year. He added: “The performance has been remarkable despite the seismic impact of the pandemic, which though highly disruptive, has actually sparked even higher demand across the property market." House prices rose fastest in the South West of England last year, rising by 12.9%. In Scotland, the average house price hit a record level of £183,000 in November, where property values increased by 11.4% over the year. In Wales, they climbed by 12.1% to £200,000 and in Northern Ireland they were up 10.7% to £159,000. The slowest regional growth was a 5.1% annual increase in London. 

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