UK Housing Recovery Broadens with Increased House Prices
| Date Published |
1/14/2014 |
| Author |
Marja Hoek-Smit |
| Theme |
|
| Country |
United Kingdom |
UK Housing Recovery Broadens with Increased
House Prices
January 14, 2014
In its most
recent bulletin on the House Price Index for November 2013, the UK Office for
National Statistics reports strong house price growth across most of the UK as
a result of the broadening housing recovery. Key findings include:
- In the 12 months to November 2013 UK house prices
increased by 5.4%, down from a 5.5% increase in the 12 months to October 2013.
- The year-on-year increase reflected growth of
5.6% in England, 5.4% in Wales, 2.5% in Scotland and 3.3% in Northern Ireland.
- House price growth is beginning to increase strongly
across parts of the UK, with prices in London increasing at more than double
the UK average.
- Annual house price increases in England were
driven by rises in London (11.6%), the South East (4.5%) and the West Midlands
(4.4%).
- Excluding London and the South East, UK house
prices increased by 3.1% in the 12 months to November 2013.
- On a seasonally adjusted basis, average house
prices increased by 0.5% between October and November 2013.
- In November 2013, prices paid by first-time
buyers were 6.4% higher on average than in November 2012. For owner-occupiers
(existing owners), prices increased by 5.1% for the same period.
Link to the
House Price Index Bulletin
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