UK house prices rise 2.3%
16th Aug 2012
UK house prices rose by 2.3 per cent in the 12 months to June 2012, according to the latest figures from the Office for National Statistics (ONS).
This is unchanged from the 12 months to May this year and shows that house prices continue to remain relatively stable across most of the UK, the report suggests.
The year-on-year increase reflects growth of 2.8 per cent in England, which was offset by declines in Scotland and Northern Ireland of 1.0 and 11.9 per cent, respectively, though house prices remained unchanged in Wales.
According to the statistics, annual house price increases in England were driven by a 6.5 per cent rise in London, and increases in the south-west and south-east of 2.3 and 2.2 per cent, respectively.
The ONS noted that the only decrease in the whole of England was the 1.3 per cent fall recorded in the north-east.
The prices of new homes rose by 5.9 per cent during the 12 months to June 2012, while the price of pre-owned property increased by 2.1 per cent in the same period, the data indicates.
Meanwhile, prices paid by first-time buyers in June this year were 3.1 per cent higher on average than in June 2011, with prices increasing by 2.1 per cent over the same period for owner-occupiers.
Posted by Staff Writer: Robin Stenson
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