Average UK house prices hit £271,000 in November – ONS

The average UK house price has increased by 2.5% to £271,000 in the 12 months to November, a report has said.

The latest Office for National Statistics (ONS) figures show that this annual growth rate is up from the 1.9% recorded in October.

Average house prices in England came to £293,000 in November, an increase of 2.2% year-on-year and up from 1.5% in the prior month.

Within England, the North East had the highest house price inflation at 6.8%, with London being the lowest, with prices falling by 1.2% in the 12 months to November.

In Wales, the average house price came to £209,000 in November, an increase of 0.7% year-on-year and below the 1.4% recorded in October.

The average house price in Scotland stood at £193,000 in November, a rise of 4.5% on the prior year and up from 3.8% annual growth in October.

Looking at Northern Ireland, the average house price stood at £193,000 in Q3, which is a 7.1% increase on the same period the year before.

Rents rise by 4% YOY

Average UK monthly private rents increased by 4% year-on-year to £1,368 in the 12 months to December, which is slightly down from 4.4% in the same period last year.

In England, the average monthly rent stood at £1,424 in December, which is 3.9% up on the year before and is the lowest annual inflation since May 2022.

Within England, the North East had the highest annual rent inflation at 7.9%, with rent inflation the lowest in London at 2.1%.

Looking at Wales, the average monthly rent came to £822, a rise of 5.7% on December 2024. This is down from the 6.1% recorded in November.

In Scotland, the average monthly rent stood at £1,018 in December, an increase of 2.8% year-on-year and the lowest annual rise in over four years.

Average monthly rent in Northern Ireland came to £873 in October, up 8.7% on a year earlier. This is lower than the rise of 6.4% recorded in September.