House prices finished the year up 7.3% according to Nationwide, with their quarterly regional report showing the South East high in the rankings for the first time in years. Zoopla reports that demand in 2020 has been 40% higher than in 2019.
The big picture - house prices up 7.3% for the full year
From Nationwide Building Society -
Biggest regional movers -
Annual house price growth accelerated further in December, reaching a six year high of 7.3%, up from 6.5% in the previous month. Prices rose by 0.8% month-on-month, after taking account of seasonal effects, following a 0.9% rise in November. House prices ended the year 5.3% above the level prevailing in March, when the pandemic struck the UK.
The city-by-city level
The Zoopla/Hometrack Cities Index
Property prices trends move slowly, so it is no surprise that cities in Northern England, the North West and the Midlands continue to show the greatest gains.
The annual rate of UK house price growth has moved higher to +3.9% in November up from +1.3% a year ago. The 3 month growth rate peaked at 2% in September and has slowed, suggesting annual growth will start to plateau at c.5% in 2021 Q1.