|Land registry data (UK HPI)||January Av. price||Monthly change||12-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.