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December 20, 2012

House prices up 1.5% year-on-year

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by Gill Montia

House prices up 1.5% year-on-year

New data from the Office for National Statistics (ONS) show UK house prices increasing 1.5% in the 12 months to October, with he annual rate of gain down from a 1.7% in September.

The year-on-year rise reflects growth of 1.8% in England and 2.8% in Wales, offset by house price falls of 2.2% in Scotland and 11.7% in Northern Ireland.

Also of note, house price rises in England were driven by a 3.4% increase in London and a jump of 3.1% in Yorkshire and The Humber.

Excluding London and the South East, UK house prices increased by 0.8% in the 12 months to October, according to the ONS.


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