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On a seasonally adjusted basis, the average UK house price decreased by 0.6% in January 2023, following a decrease of 0.4% in December 2022.

Andy Sommerville, Director at Search Acumen, the property data and insight provider, comments: “In the current climate, the Government’s ambition to transform the UK into a tech super-power is absolutely the right one

Whilst average house prices in England have risen by 77% since 2012, the latest data analysis from Search Acumen indicates a similar trajectory for annual property transaction volumes, almost doubling in a decade from 714,000, to over 1.3 million.

On a seasonally adjusted basis, the average UK house price decreased by 0.2% between November and December 2022, following an increase of 0.5% in the previous month.

As we shake off our January blues, it comes as no surprise to see that house price data this month indicates a flatline in growth reflective of current macro-economic conditions. As one of the coldest months of the year when people will be particularly concerned with rising energy prices, and with inflation still hitting families hard, we expect this tightening trajectory to continue.