House prices up £11k in a year official data shows – and values are rising fastest in the North West as it becomes the …

A typical home in Britain is now worth 226,000 euros, that is 11,000 euros more tn last year. The average price increase 5.4 percent. Annual price inflation is up 4.8 percent according to the office for national statistics. North West Britain seems to be a new hotspot, prices have risen nearly 7.3 percent in the past year. The values in London are about three and half times bigger than the north east. prices in London average 484,000 euros, the south east is at 324,000 euros and the east is 289,000 euros, the north east is at 130,000 euros.

Key Takeaways:

  • Annual house price inflation is up from the 4.8 per cent recorded a month earlier by the Office for National Statistics in its monthly index.
  • The annual growth rate has slowed since mid-2016 but has remained broadly around five per cent during 2017, in the face of Brexit talks
  • A new hotspot has emerged in September according to the data, with the North West showing the highest annual percentage rises, with values increasing by 7.3 per cent in the year to September 2017.

“The average property price increased 5.4 per cent in the year to September 2017, official figures reveal this morning.”

Read more: https://www.thisismoney.co.uk/money/mortgageshome/article-5080621/House-prices-11k-year-September-2017-ONS-shows.html

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