UK house prices came down marginally in November 2022 from a record high the month before, according to official figures.
The average house price in November was £295,000 - down slightly from the previous month’s high of £296,000 - but still £28,000 higher than a year earlier, say the Office for National Statistics (ONS). The ONS details that property prices increased by 10.3% in the year to November 2022, slowing from 12.4% in October 2022.
Properties in England have seen the biggest annual increase in average house prices, rising 10.9% to £315,000. Average house prices in Wales have risen 10.7% to £191,000. Northern Ireland has seen the same rate of increase (10.7%) to £176,00. Scotland, meanwhile, prices rose on average to £191,000 at a rate of 5.5%, say the figures.
More to come.