London’s house prices fall as all other regions rise

House prices fell 0.9% in London between September and October, in contrast with a 0.3% increase across the UK, the Office for National Statistics reported Wednesday. The average house price in the capital was £541,720, compared to £296,000 for the country as a whole. House prices grew 12.6% in the year to October, or £33,000, up from 9.9% the previous month. Average house prices in England, Scotland and Wales hit record levels in October. The typical house price in Scotland increased by 8.5% over the year, to £195,000, while in Wales it rose by 11.8% to £224,000. In England, the typical property value was up 13.2% annually to £316,000. The average house price in Northern Ireland increased by 10.7% over the year, reaching £176,000. 

Financial Times (14/12/2022)   The Daily Telegraph (14/12/2022)