Latest ONS House price figures out. House prices up by 7.5% on the year to January 2021. Average UK house price is £249,000, up £17,000 on the year before. 
North West the highest annual % increase- house prices there up 12% on the year, the highest growth since 2005 (!)
Average London house price now over half a million pounds.
North East continues to have the lowest house prices (£138k)- only surpassing 2007 peak in December.
Average London house price now over half a million pounds.
North East continues to have the lowest house prices (£138k)- only surpassing 2007 peak in December.
And though house prices are climbing across the UK, it is in England where they are by far the most inflated- take a look at the graph below.
Given everything that’s happened over the last year, you might think this buoyancy is remarkable. But it’s partly a result of government policy- the stamp duty holiday, continued hyper loose monetary policy and another new scheme to make mortgages more affordable on the horizon..
In other words the worst recession in living memory and the housing market is as it was, if not more buoyant still. Feels like an issue which in one way or another could become more important in our politics over the next year or so:
Especially striking, as ever, for the inter-generational equity stakes
https://twitter.com/lewis_goodall/status/1374306637624795138
Piece from me on how it is we've a booming housing market after the worst recession since the 18th century from last night's Newsnight. And more intervention to boost it further is coming...
https://twitter.com/lharriswhite/status/1375096545641652233?s=20
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