The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 12 May 2009.
The latest statistics release includes data based on mortgage completions during the month of March 2009.
The key points from the release are:
- UK house prices were 13.6 per cent lower than in March 2008.
- The mix-adjusted average house price in the UK stood at £187,193 in March 2009 (not seasonally adjusted).
- UK house prices fell by 3.8 per cent in the quarter ending March 2009. This compares with a fall of 6.4 per cent for the quarter ending December 2008.
- Annual average house prices fell in England (-13.8 per cent), Wales (-13.0 per cent), Scotland (-9.8 per cent) and Northern Ireland (-16.1 per cent).
- Annual average house prices paid by first time buyers in March 2009 were 16.7 per cent lower than a year ago. By comparison average house prices paid by former owner occupiers were 12.4 per cent lower.
Read the whole article here.
Article by the Department of Communities and Local Government.
Data sourced from the CML/BankSearch Regulated Mortgage Survey.