UK house prices up 10 per cent

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UK house prices up 10 per cent

Uk house prices rose by 10 per cent in November last year compared to the same period in 2020.

House prices rose 9.8 per cent year-on-year in October last year, rising 10 per cent in November, according to the British Office for National Statistics (ONS).

Due to the increasing demand during the epidemic period, house prices in the country increased by 13.5 percent year-on-year in June 2021, the highest level in 15 years.

The price of an average home in the country has risen by £25,000 to £271,000 by November 2021, the ONS said.

Year-on-year, house prices rose the most in the southwestern part of the country at 12.9 percent, while the lowest was recorded in the capital, London, at 5.1 percent, the statement said.

The British government introduced temporary tax relief, which lasted until the end of September last year, to support housing sales during the epidemic.

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