House prices rise £24k in a year

Official figures show that the average UK house price has jumped by £24,000 in a year. The Office for National Statistics said prices rose 10.2% to £256,000 in the year to March 2021. March’s increase outpaces the 9.2% recorded in February and marks the fastest annual climb since August 2007. London saw the lowest annual price growth with a 3.7% increase, while Yorkshire and the Humber saw the biggest climb at 14%. Average house prices rose 10.2% in England, 11% in Wales, 10.6% in Scotland and 6% in Northern Ireland. The biggest increases have been seen on detached properties, as buyers sought more space in response to the pandemic. According to the ONS, the price of a detached home increased by 11.7% in the year.

BBC News (19/05/2021) Daily Mail (19/05/2021) Evening Standard (19/05/2021) The Times (19/05/2021)