The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 14 July 2009.

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

The key points from the release are:

  • UK house prices were 12.5 per cent lower than in May 2008.
  • The mix-adjusted average house price in the UK stood at £188,991 in May 2009 (not seasonally adjusted).
  • UK house prices fell by 0.4 per cent in the quarter ending May 2009. This compares with a fall of 4.8 per cent for the quarter ending February 2009.
  • Annual average house prices fell in England (-12.8 per cent), Wales (-8.8 per cent), Scotland (-6.9 per cent) and Northern Ireland (-23.2 per cent).
  • Annual average house prices paid by first time buyers in May 2009 were 14.8 per cent lower than a year ago. By comparison average house prices paid by former owner occupiers were 11.6 per cent lower.

Read the whole article here.
Article by the Department of Communities and Local Government.

Data sourced from the CML/BankSearch.