UK house prices rise 6.3% in 12 months to January – ONS

British house prices rose by 6.3% in January from the same month in 2022, the Office for National Statistics (ONS) said on Wednesday.

The rise was smaller than December’s downwardly revised 9.3% increase.

London saw the weakest annual price rise of all English regions, with prices in the capital up 3.2%, the ONS said.

• Average UK house prices increased by 6.3% in the 12 months to January 2023, down from 9.3% in December 2022.
• The average UK house price was £290,000 in January 2023, which is £17,000 higher than 12 months ago.
• Average house prices increased over the 12 months to £310,000 (6.9%) in England, £217,000 in Wales (5.8%), £185,000 in Scotland (1.0%) and £175,000 in Northern Ireland (10.2%).
• Scotland’s annual house price inflation has generally been slowing since the recent peak of 13.8% in the 12 months to April 2022, slowing to 1.0% in the 12 months to January 2023.
• The North East saw the highest annual percentage change of all English regions in the 12 months to January 2023 (10.0%), while London saw the lowest (3.2%).

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