ONS: house prices fall amid mortgage uncertainty

House prices remained down against the year in January, new Office for National Statistics analysis of HM Land Registry data has found.

ONS house prices fall
(Image credit: Getty Images)

UK house prices continued to remain down against the year in January, the latest Office for National Statistics (ONS) House Price Index has shown.

The average property price of £281,913 was 0.6% (£2,000) down compared to January 2023, according to the ONS’s provisional estimates. However, annual house price deflation has slowed from a rate of 2.2%, with prices climbing 0.5% month-on-month (1.1% on a seasonally-adjusted basis).

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Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.