UK House Price Index January: East Midlands has largest price growth at 7.1%

The East Midlands recorded the joint top house price growth in January 2018.

Looking at the country and regional level, the largest annual price growth was recorded in Scotland and the East Midlands at 7.3%. The lowest annual growth was in the North East, where prices increased by 0.7% over the year, followed by London at 2.1%. This is the 14th consecutive month where the annual growth in London has remained below the UK average.

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The data for England shows:

  • house prices have fallen by 0.5% since December 2017
  • an annual price rise of 4.6% takes the average property value to £242,286

The regional data for England indicates that:

  • the South West experienced the greatest monthly price rise, up by 1.4%
  • the North East saw the most significant monthly price fall, down by 5.5% and
  • London experienced a monthly price rise, up by 1%