ONS reports annual growth, as Taylor Wimpey announce positive results

Official statistics reveal 10% growth to November 2021

The Office for National Statistics published their house price index for November 2021 this week, reporting a 10% annual house price growth across the UK. This was up from 9.8% in October 2021.

The results, which reflected an average UK house price of £271,000 – an increase of £25,000 in the year – revealed that Wales was the strongest performing region, seeing growth of 12.1% in the year. London was the worst performing region, with house prices increasing by just 5.1% over the same period.

Meanwhile, Rightmove revealed that the average dwelling price increased by 7.6% in the year to January 2022; the highest rate of annual growth recorded by the property website since May 2016.

Citing ongoing strong demand and low supply, Rightmove also reported that buyer enquiries were up by 15% when compared to January 2021.

Taylor Wimpey results in line with expectations

Taylor Wimpey announced this week that their full-year results would be “in line with expectations”, with an anticipated group operating profit of around £820m.

With full results expected to be announced in March, the volume housebuilder revealed that total completions rose 47% in the year to 14,087 homes – still 15,719 homes fewer than pre-pandemic completions in 2019.

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