Uk House Price Index: November 2021 - 10% Increase in 12 months

19th January 2022

UK average house prices increased by 10.0% over the year to November 2021, up from 9.8% in October 2021.

The average UK house price was £271,000 in November 2021, which is £25,000 higher than this time last year.

Average house prices increased over the year in England to £288,000 (9.8%), in Wales to £200,000 (12.1%), in Scotland to £183,000 (11.4%) and in Northern Ireland to £159,000 (10.7%).

London continues to be the region with the lowest annual growth at 5.1%.

UK house prices
UK average house prices increased by 10.0% over the year to November 2021
The latest house price data published on GOV.UK by HM Land Registry (HMLR) for November 2021 show that average house prices in the UK increased by 10.0% in the year to November 2021, up from 9.8% in the year to October 2021 (Figure 1).

Because of the impact of the coronavirus (COVID-19) pandemic on both the number and supply of housing transactions, we might see larger revisions to the published UK House Price Index (HPI) estimates than usual.

There may be increased volatility in this month's estimates, particularly at the lower geographical levels where transaction volumes are smaller. We are looking at options to improve this, including working with data suppliers.

In particular, HMLR has been increasing the level of automation in the way they process applications. As a result of this process, initial data numbers may be lower than pre-coronavirus pandemic transaction volumes; however, in the medium to long term, this will lead to higher volumes being processed.

The total number of processed transactions feeding into this month's release (including those from previous months, which are incorporated in line with our revisions policy) has increased compared with recent months. While this indicates an improvement in the quality of the UK HPI estimates going forward, it may also result in revisions to previous months that are higher than usual, as more transactions are now available in our calculations. Further information on this can be found in Section 7: Measuring the data.

Read the full report at https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/november