Average UK house prices continue to lack any real movement, latest govt figures show
25-05-2012
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This took the average house price to £225,293. But it was a different picture in Northern Ireland which has experienced strong falls in house prices since 2008.
On a monthly basis, the March 2012 House Price Index shows that prices decreased by 0.6%.
In the 12 months to March 2012, average house prices decreased by 0.3% in both England and Scotland and 10.7% in Northern Ireland. These decreases were offset by an increase of 0.4% in Wales.
The annual decrease in England was driven by decreases in London, which fell by 0.2%, the South East which fell by 1.4% and the North East which fell by 0.9%. This was the first year on year decrease in London since October 2009.
The largest annual increase in regional average house prices was 2.2% in the South West of England. Average house prices in the Midlands were unchanged.
Average mix adjusted house prices in March 2012 stood at £233,203 in England, £153,957 in Wales and £179,222 in Scotland.
London continues to be the English region with the highest average house price at £368,049. The North East had the lowest average house price at £141,130. Excluding London and the South East, the average UK mix adjusted house price was £184,377.
In March 2012, prices paid by first time buyers were 2.8% higher on average than in March 2011. For owner occupiers the prices decreased by 1.6% in the same period.
Prices of new dwellings rose by 6.9% during the 12 months to March 2012, while the price of pre-owned dwellings decreased by 0.9% in the same period.
