SAB - the property specialists

Leading Cambridgeshire, hertfordshire
and London property specialists since 1959


March 23, 2016

UK House Prices Up

UK house prices climbed 7.9% in January compared with the same month last year, according to latest Office for National Statistics data. Price growth is being driven by the South East and London where prices rose 11.7% and 10.8% respectively. By contrast, prices fell in Wales over the same period - by 0.3% - and notched up rises of just 0.1% in Scotland, 0.8% in Northern Ireland and 0.9% in north-east England. Excluding London and the South East, UK house price growth was 5.1 %. “House prices continue their steady upwards march – as they are likely to do for some time unless Britain can address the lack of housing supply," said Stephen Smith, director of Legal & General Housing Partnerships. Jonathan Hopper, managing director of Garrington, a property finder, said: “Such ebullience cannot last. It's likely this data was flattered by the last minute 'stamp duty stampede' as buy-to-let investors rushed to complete purchases before April's hike in stamp duty.”