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Property News | House Prices Are Rising By £1,691 Per Month

House prices have risen by £1,691 PER MONTH since the first lockdown started in March 2020!.🏡

Record breaking figures!

According to the latest House Price Index from Halifax, the average cost of a UK property has hit a new record high of £272,992. In November, we saw a 1% increase in house prices from the previous month and a whopping 8.2% increase from the same time last year!

With an annual house price increase of 11.4% – the fastest pace of growth since 2005 – the North West remained by far the best performing region in England.

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What the experts’ say

Managing director Russell Galley said:

“Since the onset of the pandemic in March 2020, and the UK first entering lockdown, house prices have risen by £33,816, which equates to £1,691 per month.

Quarterly house price inflation was at its strongest level since 2006, with 3.4% growth.

Prices increased by 1.0% month on month in November, and by 8.2% annually.”

Thinking about selling? Miller Metcalfe have 18 hubs across the North West. Our property experts are always on hand to assist you with any of your property needs. Contact us today. Visit https://millermetcalfe.co.uk/contact-us/ to find your local branch.

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