Notizie economiche
16.10.2024

House price growth in UK accelerated more than forecast in August

According to the report from the Office for National Statistics (ONS), average house prices rose by 2.8% per annum in August after increasing by 1.8% per annum in July (revised from +2.2%). This was the sixth price increase in a row and the strongest increase since April 2023. Economists had expected prices to rise by 2.5% per annum. On a non-seasonally adjusted basis, average house prices increased by 1.5% between July and August, compared with an increase of 0.5% during the same period 12 months ago. On a seasonally adjusted basis, average house prices rose by 1.0% m/m.

The ONS said that the average house price rose to 293,000 pounds in August from 285,000 pounds in August 2023. Average house prices increased in England (+2.3%, to 310,000 pounds), in Wales (+3.5%, to 223,000 pounds) and in Scotland (+5.4%, to 200,000 pounds).

Separate data showed that in September the average UK private rent rose by 8.4% per year after a similar increase in August. Average rents increased to 1,336 pounds (+8.5%) in England, 760 pounds (+8.3%) in Wales, and 973 pounds (+7.2%) in Scotland. In England, rents inflation was highest in London (9.8%) and lowest in the South West and Yorkshire and The Humber (6.3%), in the 12 months to September.

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