The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 15 April 2009.

The latest statistics release includes data based on mortgage completions during the month of February 2009.

The key points from the release are:

  • UK house prices were 12.3 per cent lower than in February 2008.
  • The mix-adjusted average house price in the UK stood at £189,813 in February 2009 (not seasonally adjusted).
  • UK house prices fell by 4.8 per cent in the quarter ending February 2009. This compares with a fall of 4.3 per cent for the quarter ending November 2008.
  • Annual average house prices fell in England (-12.4 per cent), Wales (-12.5 per cent), Scotland (-8.6 per cent) and Northern Ireland (-19.4 per cent).
  • Annual average house prices paid by first time buyers in February 2009 were 15.1 per cent lower than a year ago. By comparison average house prices paid by former owner occupiers were 11.2 per cent lower.

Read the whole article here.
Article by the Council of Mortgage Lenders.
Data partially sourced from the CML/BankSearch’s Regulated Mortgage Survey.