Prices of homes on South West coast rising fastest

North Devon, including Barnstaple, has seen a dramatic rise in property prices

House prices rose fastest in the South West of England last year, official figures show, as a council leader declared a housing crisis in Devon.

UK prices jumped by 10% in the year to November, the Office for National Statistics (ONS) said, despite people facing cost of living pressures.

Demand was particularly high outside of London. South West England saw prices rise by 12.9%.

In December, a housing taskforce was agreed in Devon amid residents' unease.

There was "little housing available for Devon people", Councillor John Hart, Conservative leader of Devon County Council, said at the time.

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The average UK house price in November was £271,000. That's £25,000 higher than a year earlier, the ONS said.

In Scotland, the average house price hit a record level of £183,000 in November, where property values increased by 11.4% over the year.

In England, average house prices increased by 9.8% over the year to hit £288,000. In Wales, they climbed by 12.1% to £200,000 and in Northern Ireland they were up 10.7% to £159,000.

The slowest regional growth was a 5.1% annual increase in London.

Detached homes were becoming comparatively more expensive than other types of property, according to data from the Land Registry. In England, the average price of a detached homes was up 13.8% in a year, and in Wales it recorded an average 15.3% increase. In comparison, prices of flats had grown more slowly - up 5.1% in England and 6.9% in Wales.

Emma Cox, sales director at Shawbrook Bank, said: "The harsh reality is that this extended period of ground-breaking house prices will provide challenges for the market as we move further into 2022.

"With inflation reaching 5% this year and the cost of living rising, it's imperative that buyers don't overstretch themselves in pursuit of their dream home."