ONS house price figures for September 14

Although the property market is cooling much like the weather, the ONS latest figures show that a mild September helped make 2014 a bumper year.

The ONS's main observations for the annual price change stretching from Sept 2013 to Sept 2014.

• 12.1% increase in UK prices. 
• Annual property inflation of 12.5% in England, 5.8% in Wales, 7.6% in Scotland and 10.9% in Northern Ireland. 
• London still with the highest growth, at 18.8%
• UK house prices excluding London and the SE increased by 9.1%. 
• In September 2014, average prices paid by first-time buyers were 13.3% higher than in September 2013. 
• For owner-occupiers (existing owners), prices increased by 11.5%.

Get the full ONS House Price Index for September 2014