Price of typical home in England, Wales and Northern Ireland nudges £200,000 as annual inflation increases to 8.9%
The average house now costs around £200,000, according to new data from the Department for Communities and Local Government.
The rise in house prices also accelerated towards the end of last year though London house price inflation fell.
Home buyers paid an average of £199,467 per house in November according to the figures. This is a rise of £1,480 from October’s average price of £197,987.
House price inflation also shot up in November with the annual rate rising to 8.9% from 8.6% in October. In London it was a different story with house price inflation dipping to 10.1% from10.6%.
Looking at composite countries of the UK in November, England, Wales and Northern Ireland saw increases in inflation, while inflation fell in Scotland. The inflation rate in England rose from 7.9 per cent in October to 8% in November; rate in Wales it rose from 7% to 10.5%; in Northern Ireland the rate rose from 31.6% to 36.6%. In Scotland the rate fell slightly from 13.6% to 13.4%.