Housepresso 23 January 22
House prices up 10% (+£24,600)
The average house earned more than £2,000 per month for its owners in the year to 30 November 2021 according to the latest data published by the land registry.
The average house price in the UK is £270,708, average prices have increased by 10.0% or (£24,643) over the last year, and increased by 1.2% or (£3,218) last month.
14 year high for housing transactions
2021 was a bumper year for housing transactions working from home and the race for space got people thing about moving the stamp duty holiday kicked people off their sofas and into action. At almost 1.5 million housing transactions, 2021 has seen the highest level of housing transactions since the heady days of 2007, before the Credit Crunch. The global COVID pandemic is certainly very different from the Global Financial Crisis and we would not expect housing transactions to fall off a cliff this year. Interestingly the 100,110 housing transactions in December is almost identical to the level of housing transactions before the pandemic broke. We hope this is a good omen for more normal times in the year ahead.
Are London house prices about to turn?
The latest data from the Land Registry shows that the average house price in London rose by 0.2% or £941 to £519,934 in November 2021. But house prices fell in 19 of the 34 London boroughs during November are London house prices about to turn?
Awaiting the dawn
The latest UK Residential Market Survey from RICS, suggested that the housing market was awaiting the dawn as it eased into the new year. Buyer enquiries were rising, estate agents were ready to go, but sellers had yet to fully return to the market
Twindig Housing Market Index
In the week that confirmed 2021 had been a bumper year for UK housing transactions, which reached a 14 year high, the Twindig Housing Market Index fell by 1.4% to 90.8. It seems that our index took a dip as housing market investors were worried about rising inflation