Record-breaking house price growth across the UK
The UK saw a 13.2% annual increase in house prices in June earlier this year, which is the largest annual increase recorded since 2004.
The average price of a UK house now sits at a high of £265,668, which is a staggering £30,695 higher than June 2020.
Every region across the UK experienced an annual increase in house prices this year.
The North West experienced the biggest increase of 18.6%, followed by Wales at 16.7%.
Across the South of England the South West saw an increase above the national average at 13.7%, making the average property now £294,904. Whilst the South East’s average property price has risen by 10.5% to £355,948.
London has actually seen the lowest house price growth increase at 6.3%. However the average price in London is still significantly higher than all other regions at £510,299.
If you’re thinking about moving but not sure how much your property is worth, or need some more information about your mortgage options why not take a look at our mortgage calculator to find out just how much you could borrow.
Sources: Dataloft Inform and UKHPI
