The most recent ONS UK House Price Index shows that house prices rose by 10.9% over the year to February, up from 10.2% last month. This makes the average UK house worth £277,000, £27,000 higher than a year ago. The report notes, however, that these figures are likely to be revised as the backlog of transactions due to Covid become available for inclusion in calculations.

The Zoopla House Price Index for the same period calculates house price inflation to be nearly 2% lower at 8.1%. This is a 0.3% fall from the January figure, but an increase of 4.2% compared with the same month last year. According to Zoopla, the average UK house is now worth £245,200, with wide regional variations ranging from £135,200 in Glasgow to 
£315,200 in Bristol. 

Data on house price sales takes a while to feed through so it's only around now that we can see the full picture for how house sales in Pinner in 2021. There were 1,540 sales in the year, which was 14.3% higher than in 2020. It's important to take into account that the market was essentially closed for some of spring 2020 because of lockdown. 

Looking ahead, Zoopla believe that strong buyer demand will continue to fuel market activity in the near-term. However, they expect that the rising cost of living, along with global uncertainty brought about by the conflict in Ukraine, will have a cooling effect on prices during the remainder of 2022. Transactions levels are expected to have returned to pre-pandemic levels by the end of the year.