House prices near record high as stamp duty hike looms

UK house prices have risen 3.4% over the past year. Is it being driven by a rush to beat April’s stamp duty hike?

Aerial view of the rooftops of terraced houses in the North of England
(Image credit: Teamjackson via Getty Images)

UK house prices rose by 3.4% on an annual basis in October, according to official figures published today. It takes the average price of a UK property to £292,000. On a monthly basis, prices were up 0.2%.

House prices are now within touching distance of the record high achieved in August this year, having spent much of the past two years in recovery mode.

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Country / regionAverage house priceAnnual change
Northern Ireland£190,5536.2%
Scotland£197,4515.5%
Wales£222,3164%
England£308,7813%
North East£167,1324.7%
Yorkshire and The Humber£217,1464.6%
North West£225,3604.4%
East Midlands£250,6053.9%
West Midlands Region£256,3843.7%
East of England£344,4342.7%
South West£324,7092.7%
South East£381,5661.7%
London£519,5790.2%
Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.