The UK House Price Index releases figures from November 2020, detailing a 4% rise in prices from October to November, taking the capital’s annual price change to +9.7% for the year. .
Across England, house prices have risen by an average of 1.2% since October 2020, according to November data. An annual price increase of 7.6% took the average property price to £266,742.
The biggest monthly price increase was in London, up 4%, while the East of England had the lowest monthly price increase, down -0.3%. London, Yorkshire and the Humber had the highest annual price increase of 9.7%, while the East of England also had the lowest annual price increase of +4.8%.
Price trends by region in England
Regional average price November 2020 Annual percentage change from November 2019 (%) Monthly percentage change from October 2020 (%) East Midlands £208,6627.10.6 East of England £302,6244.8-0.3 London £ 513,9979.74.0NE £140, 2488.32.6 North West £180,2808.50.2 South East £342,2716.21.2 South West £278,3918.51.1 West Midlands £213,9746.91.0 Yorkshire and the Humber £180,8569.71.9 Data and graphs for UK Provided by the government.
Estate agent Chestertons said there was a “clear increase in market activity” in November 2020, with more sellers looking to list their properties compared to the previous year.
Chestertons has announced a 44% increase in valuations and 76% new properties on the market compared to November 2019. The agency registered a 24.6% increase in initial inquiries, a 10% increase in people registering as buyers, and a 21% increase in people agreeing to view. schedule.
Guy Gittins, managing director of Chestertons, commented on the new Land Registry figures:
“The second lockdown has no doubt caused some people to put their property searches on hold, but we didn’t see much of a difference and activity levels were still much higher than we would have expected at this time of year. There was an incentive from stamp duty savings, but we think the main factor was that people wanted to move as soon as possible while conditions were favorable.
Mr Chestertons also said the London housing market remained “strong” throughout December, with the number of property enquiries, buyer registrations, property viewings, accepted offers and agreed sales reaching full-year figures. It was confirmed that it had reached the highest level in eight years.
