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Wednesday, October 16, 2013

Latest house price data from ONS

It's official, house prices are higher than ever before.

The latest data from the Office of National Statistics reports the average price of a residential property in the UK is now £247,000. This is the highest figure the index has ever recorded.
  • In the 12 months to August 2013 UK house prices increased by 3.8%, up from a 3.3% increase in the 12 months to July 2013.
  • House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average.
  • The year-on-year increase reflected growth of 4.1% in England, 1.1% in Northern Ireland and 1.0% in Wales, offset by a fall of 0.7% in Scotland.
  • In August 2013, the UK HPI surpassed its previous peak in January 2008 (185.5) by 0.3%.
  • Annual house price increases in England were driven by London (8.7%), the East Midlands (3.8%) and the West Midlands (3.5%).
  • Excluding London and the South East, UK house prices increased by 2.1% in the 12 months to August 2013.
  • On a seasonally adjusted basis, UK house prices increased by 0.5% between July and August 2013.
  • In August 2013, prices paid by first-time buyers were 4.9% higher on average than in August 2012. For owner-occupiers (existing owners), prices increased by 3.3% for the same period.




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