Monday, June 25, 2012
The latest ONS House Price Index (April) has been
published and shows that:
- In the 12 months to April 2012, house prices in the UK
increased by 1.4%;
- The year-on-year increase reflected growth of 1.7% in England,
which was offset by declines in Wales, Scotland and Northern
Ireland of 1.1%, 0.3% and 8.1% respectively;
- Annual house price increases in England were driven by a 4.9%
rise in London, as well as increases across the south;
- The largest decreases in England were recorded in both the
North West and in Yorkshire and Humber;
- Prices of new dwellings rose by 5.1% over the year, while the
price of pre-owned dwellings increased by 1.1%;
- Prices paid by first-time buyers were 1.5% higher.
It also showed that, in March 2012, 43% of houses were bought by
first-time buyers due to the Stamp Duty Land Tax exemption. This
fell to 32% in April - back in line with the longer term
average.