Month-on-month prices have increased by an average of 1.6% (+£5.53) and over the past three months by £19,082. The bad news is that housing prices are unlikely to be significantly more affordable. Experts expect slower growth, but none expect overall prices to fall significantly in the medium or long term. Dartford, Redditch, Test Valley and Gloucester are the UK's fastest housing markets. It showed that the average price of housing in the United Kingdom had increased by 0.3%, after an increase of 0.5% in the previous month, with a year-on-year growth of 9.8%.
These key figures hide some of the underlying price movements, with prices in London falling by 0.9% during the month, and the East Midlands having the highest level of growth, at 1.2%. The UK House Price Index from the Land Registry is the most reliable barometer of what is happening with house prices, as it is based on actual property sales rather than prices. The UK House Price Index is the most accurate of the various price indices of housing, as it is calculated based on sales made, both for cash sales and for those with a mortgage There can be a large variation in the price of a house on one street compared to the same style of house on an adjacent street, so it pays to do homework. However, if you are moving and need to sell your current property, it may be worth taking full advantage of the end of this recent housing price boom.
There are a number of respected data sources related to house prices, including monthly indices that provide information on changes in house prices during the previous month and during the previous 12 months. The housing market has been tumultuous for the past 2 years, and the pandemic has had a direct impact on house prices. Some homeowners are delaying selling due to a lack of homes available to buy, compounding the problem.