House price inflation slows to +7.5% – UK HPI

The official house price index indicates that property prices are rising at the fastest rate since 2016. In London, however, the average property value dropped by 1.2% in October.

London's average property price has escalated back to its 2017 high, according to the latest official UK House Price Index.

Average property prices are likely to be 17% lower after five years than was predicted in March, before the pandemic hit, says the Office for Budget Responsibility.