House prices in the UK fell an average of 11.5% in the UK in January. The price of the average UK property is now £195,724, down more than £25,000 in the last year, according to the data from the Department of Communities and Local Government (DCLG).
Northern Ireland is the worst affected area with prices down 14.3 per year-on-year, while prices in England are down by 11.8 per cent. The West Midlands is the region to have suffered most - down by 14.1 per cent, although London is close behind with a 13.9 per cent drop over the year.
The DCLG index for January has recorded smaller falls in prices than the February indices other reports including Halifax and Nationwide, not only because it is one month behind, but because its figures are calculated at the time when mortgages are completed rather than agreed.
-
Chelsea Flower Show 2025: What else to do in SW3 if you're coming to the world's greatest flower showThere's more to Chelsea than just the Flower Show so we've rounded up some of the best places to eat, stay and shop.
-
Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curvesAmid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
