Average UK house price stands at £195k
30th Jan 2012
The average cost of buying a home in the UK currently stands at £195,196, according to the latest analysis of data by leading analysts.
The Assetz House Price Watch index, which uses figures from LG, LSL Acadametrics, Halifax and Nationwide, shows that December saw the biggest monthly fall in prices last year, with property values down one per cent.
Prices over the year were virtually unchanged, with annual growth recorded at -0.1 per cent for 2011.
Overall, the average cost of buying UK property is now 9.26 per cent less than at the peak of the market in October 2007, when the average price was £215,089.
Stuart Law, chief executive of Assetz, acknowledged that property prices were "relatively flat" in 2011, but noted that this was not the case across the whole of the UK.
"Key locations such as London and other major towns and cities where there is a sound infrastructure and good employment rates, will have seen prices edge upwards over the year as demand continued to outstrip supply," he explained.
Mr Law added that regional and local price variations are likely to become more pronounced this year as budget cuts continue to take hold but he predicted national growth of as much as three per cent, buoyed by strong performing areas.
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