Bethany Whymarkbethany. whymark@archant.co.uk @EDPBethany
House prices rose faster in the East of England than any other English region in the year to March, according to the Office for National Statistics. Picture: ANTONY KELLY
Archant Norfolk 2017
The East of England is leading the charge in house price growth across the UK, new figures show.
The latest UK house price index from the Office for National Statistics (ONS) showed property prices in the region grew 10.3% in the year to February 2017 – the highest annual growth in England.
Across England, the average house price increase was 6.3% in the year to February.
Average house prices in the East are the third highest in the country at £282,000, only beaten by London (£475,000) and the South East (£312,000).
In February the average UK house price was £218,000, £12,000 higher than a year before and £2,000 higher than the previous month.
Meanwhile, ONS figures on the private rental sector show rents in England, Scotland and Wales rose by 2% in the year to March 2017, down from 2.1% in February.
Figures from the index of private housing rental prices show the East of England had the second highest rents increase in the year to March 2017, rising by 2.8%. The South East had the highest increase of 3.4%, well above the English average of 2.1%.
According to the index, private rents increased by 14.5% between January 2011 and March 2017.