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Strong performance for prime central London

31 March 2022
Land registry data (UK HPI)January Av. priceMonthly change12-month
City of Westminster£1,015,307+1%+9.4%
Kensington and Chelsea£1,403,815+2.1%+5.8%

  • In England the January data shows, on average, house prices have risen by 0.1% since December 2021.
  • The annual price rise of 9.4% takes the average property value to £291,560.
  • The East Midlands experienced the greatest increase in its average property value over the last 12 months with a movement of 11.6%
  • London saw the lowest annual price growth with an increase of 2.2%
  • Scotland saw house prices increase by 10.8% in the year to January 2022.
  • Northern Ireland saw house prices increase by 7.9% over the year to Quarter 4 (October to December) 2021.
  • Across England, detached houses showed the largest increase out of all property types, growing by 12.4% in the year to January 2022 to £460,000. 
  • In January 2021, the most expensive borough to purchase a property was Kensington and Chelsea, where the average cost was £1.4 million.
  • In contrast, the cheapest borough to purchase a property was Barking and Dagenham, where the average cost was £345,873.
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