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Wednesday, December 17, 2014

ONS House Price Index for October 2014

The key points from the latest ONS data on UK house prices show that -

  • UK house prices increased by 10.4% in the year to October 2014, down from 12.1% in the year to September 2014.
  • House price annual inflation was 10.8% in England, 5.7% in Wales, 4.9% in Scotland and 4.9% in Northern Ireland. 
  • House prices continue to increase strongly across the UK, with prices in London again showing the highest growth.
  • Annual house price increases in England were driven by an annual increase in London of 17.2% and to a lesser extent increases in the South East (11.9%) and the East (9.6%).
  • Excluding London and the South East, UK house prices increased by 6.7% in the 12 months to October 2014.
  • On a seasonally adjusted basis, average house prices increased by 0.1% between September and October 2014.
  • In October 2014, prices paid by first-time buyers were 12.0% higher on average than in October 2013. For owner-occupiers (existing owners), prices increased by 9.7% for the same period.

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