King's Drive in Midhurst is on the market for £270,000.

9 houses you can buy that cost more than the average house price of £250,000

Houses prices have risen by 9.9 per cent in the last year, meaning a typical UK home now costs more than £250,000.

Tuesday, 23rd November 2021, 12:20 pm
Updated Tuesday, 23rd November 2021, 12:23 pm

According to building society Nationwide the average was £250,311 in October up to 0.7 per cent on the previous month and an increase of £30,728 since the start of the pandemic.

Two years ago in October 2019, the typical price was £215,368.

Robert Gardner, Nationwide's Chief Economist, said: “Annual house price growth remained elevated in October at 9.9 per cent, albeit marginally lower than the 10.0% recorded in September. Prices rose 0.7 per cent in month-on-month terms, after taking account of seasonal effects. The price of a typical UK home has now passed the £250,000 mark, an increase of £30,728 since the pandemic struck in March 2020.

“Demand for homes has remained strong, despite the expiry of the stamp duty holiday at the end of September. Indeed, mortgage applications remained robust at 72,645 in September, more than 10% above the monthly average recorded in 2019. Combined with a lack of homes on the market, this helps to explain why price growth has remained robust.

“The outlook remains extremely uncertain. If the labour market remains resilient, conditions may stay fairly buoyant in the coming months – especially as the market continues to have momentum and there is scope for ongoing shifts in housing preferences as a result of the pandemic to continue to support activity."

But forecasters warn after a bit of a property boom with people wanting to sell and move during the stamp duty holiday and a fast moving market it is due to slow down soon.

All these properties are available on Zoopla.

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