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Financial News: UK House Price Inflation Eases In November

UK House Price Inflation Eases In November

01/18/2023 - 05:38:00 (RTTNews)

(RTTNews) - UK house prices registered a slower annual growth in November, figures from the Office for National Statistics showed Wednesday.

House prices grew 10.3 percent year-on-year, slower than the 12.4 percent increase in October.

The average UK house price was GBP 295,000 in November, a slight decrease from last month's record high of GBP 296,000. Nonetheless, this was GBP 28,000 higher than this time last year.

On a monthly basis, house price edged up 0.1 percent in November, following an increase of 0.5 percent in the previous month.

The average house price annual inflation slowed in each of England, Wales and Scotland in the year to November.

Average house prices in London remained the most expensive of any region in the UK, with an average price of GBP 542,000 in November. But London was the English region with the lowest annual house price inflation of 6.3 percent.

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