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flag UK house prices rose 0.3% in January 2026, reaching £270,873, with year-on-year growth at 1.0%, while million-pound homes fell by nearly 29,400 due to higher costs and tax pressures.

flag UK house prices rose 0.3% in January 2026, reaching £270,873, a rebound from a December decline, driven by stronger demand in areas with housing shortages and stable mortgage approvals. flag The year-on-year increase reached 1.0%, up from 0.6% in December. flag Meanwhile, the number of homes valued at £1 million or more fell by about 29,400 to 673,143, or one in 45 homes, due to higher mortgage costs, shifting preferences, and tax pressures, particularly in London and the South East, where 40% of high-value homes since 2019 have dropped below the threshold.

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