December 2020 saw yearly average house prices rise by 8.5%, the highest percentage increase since October 2014. This has mostly been due to the Stamp Duty Land Tax (SDLT) holiday which has encouraged sellers to increase asking prices thanks to reduced purchasing costs.
The average UK house price is now around £252,000, an almost £100,000 increase in the last 10 years.
Average house prices in England
- House prices in England grew by 8.5% in the year to December 2020. The current average value stands at £269,000.
This represents an average increase of £21,000 per home.
Average house prices in London
- In November 2020, the average house price in London rose over £500,000 for the first time in history, however, London prices closed out the year at £496,000.
- London prices grew by 3.5% in the year to December 2020, which was the lowest growth rate of any region in the UK.
Average house prices in Wales
- Houses in Wales saw the steepest increase in price, growing by 10.7% in the year t...
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