February saw a 10.8% annual increase in UK’s average house prices

Posted on March 14, 2022 |

In February, the average house prices of the UK grew by 10.8% to £278,123 annually since June 2007.
The UK housing market started the year with average property prices growing by 0.5% month-on-month in February to £1,478 in cash terms.
Two years on from the start of the pandemic, average property values grew by 16% to £38,709 since February 2020, and in the last 12 months, house prices have reached an average of £27,215, which is the biggest one year increase in 39 years of index history.
Wales saw the highest annual price growth of 13.8%, taking the average property price there to £207,184, the South West of England's house price also registered a strong annual gain of 13.4%, and in February, Northern Ireland's house price grew by 13.1% to £173,911.
London was the weakest performing area of the UK, with annual house price growth of 5.4% and outside of London Scotland was the weakest with an annual increase of 9.2% to £193,777.

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