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FX.co ★ UK House Price Growth Rises In September

UK House Price Growth Rises In September

According to data released by the Office for National Statistics on Wednesday, house prices in the UK experienced a notable increase in September. On an annual scale, average house prices rose by 2.9%, surpassing the 2.7% growth observed in August.

The ONS noted that annual inflation has been on the rise since it reached a low of negative 2.7% in the twelve months leading up to December 2023.

In England, average house prices were up by 2.5% compared to the previous year. Meanwhile, Wales saw a modest increase of 0.4%, and Scotland experienced a 5.7% rise. In Northern Ireland, the average house price for the third quarter showed a year-over-year increase of 6.2%.

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Among English regions, the North East recorded the highest house price inflation in September at 6.5%. Conversely, London experienced the lowest annual house price inflation, with a decline of 0.5%.

Additionally, the data indicated an 8.7% annual increase in private rents in October, up from 8.4% in September.

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