ONS figures show house prices up 7%

Industry News,Moving Homes,New Homes

ONS figures show house prices up 7%

by on Thursday 17 December, 2015 in Industry News,Moving Homes,New Homes


According to the latest figures in the House Price Index from the Office for National Statistics (ONS), UK house prices increased by 7% in the year to October 2015, up even further on the 6.1% reported last month.

There are significant regional variations across the UK with house price inflation as follows:

  • England 7.4%
  • Wales 1.0%
  • Scotland 0.9%
  • Northern Ireland 10.3%

Annual house price increases in England were driven by increases in the East (10.4%) and the South East (9.5%).

Excluding London and the South East, UK house prices increased by 5.6% in the 12 months to October 2015.

In October 2015, prices paid by first-time buyers were 5.9% higher on average than in October 2014. For owner-occupiers (existing owners), prices increased by 7.4% for the same period.

The significant differences in house prices across the UK also remain with average mix-adjusted house prices in October 2015 reaching £300,000 in England compared to £174,000 in Wales, £196,000 in Scotland and £158,000 in Northern Ireland.

> Go to the ONS site for more detailed analysis

 

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