Monday, April 23, 2012
Office for National Statistics February House Price Index
The Office for National Statistics has published its first house
price index, following the transfer of responsibility from the
Department for Communities and Local Government.
Key points include:
- In February 2012 UK house prices increased by 0.3% over the
year. The average UK mix-adjusted house price was
£224,473
- Seasonally adjusted UK house prices increased by 0.2% over the
month
- In the 12 months to February 2012, average house prices
increased in both England and Scotland by 0.4% and 1.1%
respectively. These increases were offset by decreases in Wales,
where average prices decreased by 0.5%, and Northern Ireland, where
average prices fell by 9.7%
- The annual increase in average house prices in England was
driven by increases in both London and the South East, where prices
increased over the year by 1.7% and 1.2% respectively
- In February 2012, prices paid by first time buyers were 1.3 per
cent higher on average than in February 2011. For owner occupiers
(existing owners) the prices remained unchanged.
- Prices of new dwellings rose by 7.7 per cent during the 12
months to February 2012, while the price of pre-owned dwellings
decreased by 0.2% in the same period
Get all the tables for this publication in the
data section of this publication.