The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 13 July 2010.
The latest statistics release includes data based on mortgage completions during the month of May 2010.
The key points from the release are:
- UK house prices were 11.0 per cent higher than in May 2009 and 0.7 per cent higher than in April 2010 (seasonally adjusted).
- The mix-adjusted average house price in the UK stood at £209,505 in May 2010 (not seasonally adjusted).
- UK house prices rose by 1.7 per cent in the quarter ending May 2010. This compares with a rise of 2.9 per cent for the quarter ending February 2010 (seasonally adjusted).
- Annual average house prices rose in England (11.7 per cent), Scotland (3.7 per cent) and Wales (10.9 per cent) but fell in Northern Ireland (-1.1 per cent).
- Annual average house prices paid by first time buyers in May 2010 were 11.6 per cent higher than a year ago. Average house prices paid by former owner occupiers were 10.8 per cent higher.
- Annual average house prices paid for new properties in May 2010 were 6.5 per cent higher than a year ago. Average house prices paid for pre-owned dwellings were 11.3 per cent higher.
Read the whole article here.
Article by the Communities and Local Government.
Data sourced from the CML/BankSearch Regulated Mortgage Survey.