New data released by the Office for National Statistics on Wednesday revealed that the rate of house price growth slowed in January.
Average house prices in the UK rose by 1.3% in the year to January 2020, slowing from the 1.7% rise in December 2019.
The Office for National Statistics data is from before the coronavirus outbreak began in the UK.
Since then, the outbreak in the UK has grown significantly and the government has accelerated measures to stop the spread of the disease.
Earlier this week, Prime Minister Boris Johnson addressed the nation, announcing strict social distancing rules to keep people at home.
But before the situation escalated, average house prices rose to £247,000 in England, £162,000 in Wales, £152,000 in Scotland and £140,000 in Northern Ireland, the Office for National Statistics said. .
House prices in London remain the most expensive, with an average price of £477,000.
The Office for National Statistics said: “Over the past three years, UK house price growth has slowed overall, mainly due to a slowdown in the south and east of England.”
Regarding the coronavirus disease (COVID-19) outbreak, the Office for National Statistics added: “During the coronavirus outbreak, we are working to ensure the continued publication of the UK HPI. There has been little impact on price collection for this publication.”
“As this situation evolves, we are developing several solutions to respond to potential scenarios, depending on the amount of data that our data suppliers are able to collect, and we are ensuring the production of publications in the coming months. I’m trying to do it,” he added.
