UK House Price Index, Jan 2018 - PwC comments

Jan 16, 2018

UK house prices continue to grow but signs of New Year hangover in London market

Commenting on the ONS house price figures out today, Richard Snook, senior economist, PwC, said:

“In the first housing release of 2018, data from the ONS and Land Registry show a fairly benign picture in the market.

“House price inflation dipped to 5.1% in the year to November, but there was a big upward revision to the October data from 4.5% to 5.4% due in part, to a change in how the figures are calculated. Taken together, these alter the recent story from one of a deteriorating market, to one that appears relatively stable. The price of a typical UK house was £226,100 in November 2017, from £225,700 in October.

“Continuing the recent regional trend, London is the weakest performer. House prices have now declined for four consecutive months, from the high of £490,000 in July to £482,000 in November. But due to growth earlier in the year prices are still 2.3% higher than twelve months ago.”

Ends.

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