Yahoo Finance The average UK house prices before the coronavirus pandemic
The average property in the UK was valued at £231,185 ($274,579) in January, before the coronavirus pandemic swept the globe.
There is always a lag with housing data meaning that UK House Price Index for January 2020 is the latest set of data available. It shows the UK house prices before the coronavirus pandemic hit the UK.
On average, house prices fell by 1.1% since December 2019, according to the data.
London saw the highest house prices in the UK, with an average of £476,588.
Outside the capital, the South East was the most expensive area, with average prices of £320,700.
The most affordable region was the North East where a typical property would set house-hunters back by £126,592.
Read more: Rightmove warns UK property market facing sharp slowdown
The West Midlands saw the biggest monthly increase in house prices with the average cost of a property going up 0.4% since December 2019 to £200,628.
Yorkshire and the Humber experienced the biggest annual price rise, up by 3.1% from the year before to £165,383.
The lowest annual price growth was in the East of England where prices fell by 0.6% to an average of £286,999.
The estimated number of house sales in January was 102,810 — 5.2% higher than a year before.
The impact of the coronavirus on the property market is not yet clear but estate agents are warning it is already hitting viewings and Rightmove has said that more sales are falling through and the market is facing a sharp slowdown in activity.
“The speed of the slowdown in the UK housing market has been significant,” Rightmove said in a statement earlier this month.
