According to the OBR house price index released in Dec 23, how much will the average UK house price have changed by in the previous 12 months.
Often the OBR report includes a line like "Average UK house pirces increased by X in the 12 months to.." if so, I will use this number, positive if growth, negative if not, otherwise I will take the best number I can.
The value to compare against will be December '22. The OBR report from then states:
"The average UK house price was £294,000 in December 2022, which is £26,000 higher than 12 months ago but a slight change from [November]'s record high of £296,000."
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/december2022
Feel free to ask questions:
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The latest ONS house price report (which, bear in mind, has a substantial lag, so it is reporting numbers for April) has the average house price at £286,000, so a reduction of 2.7% at that time.
