The average UK house price was £33,000 higher in October than a year earlier, after jumping by 12.6%, according to official figures. The annual rate of change in October accelerated from a 9.9% increase in September, which was partly due to stamp duty changes last year, the Office for National Statistics (ONS) said.
Steadily increasing prices throughout 2022 resulted in the average UK house price reaching a record high. Across the UK, the average house price in October was £296,000.
On a seasonally adjusted basis, the average UK house price increased by 0.7% between September and October, following an increase of 0.5% in the previous month.
