The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 15 December 2009.
The latest statistics release includes data based on mortgage completions during the month of October 2009.
The key points from the release are:
- UK house prices were 2.2 per cent lower than in October 2008 but 0.5 per cent higher than in September 2009 (seasonally adjusted).
- The mix-adjusted average house price in the UK stood at £198,450 in October 2009 (not seasonally adjusted).
- UK house prices rose by 2.3 per cent in the quarter ending October 2009. This compares with a smaller rise of 2.0 per cent for the quarter ending July 2009 (seasonally adjusted).
- Annual average house prices rose in Scotland (0.7 per cent) but fell in England (-2.1 per cent), Wales (-4.5 per cent) and Northern Ireland (-14.8 per cent).
- Annual average house prices paid by first time buyers in October 2009 were 0.1 per cent lower than a year ago. By comparison average house prices paid by former owner occupiers were 3.0 per cent lower.
- Annual average house prices paid for new properties in October 2009 were 0.7 per cent lower than a year ago. By comparison average house prices paid on pre-owned dwellings were 2.2 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.