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Insights

House prices rose fastest in the South West

Posted on 20th January 2022 in Residential Property

Posted by

Nick Conner

Partner and Solicitor
House prices rose fastest in the South West

If you have moved to the South West or thinking of doing so, you would have found that house prices have risen over the past few years. Official figures show that house prices in the South West of England rose fastest than anywhere else in the country.

With the demand for property in 2021 reaching new heights, the UK saw house prices jump 10% in the year to November, whereas prices rose further to 12.9% in the South West, this is despite the higher cost of living we are all facing.

Conservative leader of Devon County Council has declared there is a housing crisis in Devon, saying there was "little housing available for Devon people". In December a housing taskforce was put in place due to residence unease.

Average house prices in November was £271,000 which is £25,000 more than the year before. The slowest region for growth was London, with an annual increase of 5.1%.

 

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