fbpx

DCLG House Price Index

Kay McLellan

June 12, 2006

The mix-adjusted average house price in the UK in April 2006 stood at £188,290, up from £186,519 in March 2006 (not seasonally adjusted).

UK annual house price inflation in April 2006 was 5.1 per cent, up from 3.3 per cent in March 2006. Annual house price inflation in London was 7.1 per cent in April 2006, up from 4.0 per cent in March 2006.

The UK annual house price inflation rate for the 3 months to April 2006 was 3.9 per cent, and 4.2 per cent in London.

House Price Inflation: Regional

The UK house price inflation rate rose from 3.3 per cent in March 2006 to 5.1 per cent in April 2006. Prices rose by 0.9 per cent between March and April, compared to a fall of 0.8 per cent seen over the same period last year.

The rise in UK prices between March and April can be attributed to rises in average prices for all property types, in particular for terraced houses (2.0 per cent, and semi-detached houses (1.1 per cent).

In the home countries, Scotland saw a fall in inflation in April, while inflation rose in England, Wales and Northern Ireland in April.

The inflation rate in England rose from 2.5 per cent in March to 4.7 per cent in April, the inflation rate in Wales rose from 5.3 per cent to 6.6 per cent, in Northern Ireland the rate rose from 14.1 per cent to 15.8 per cent. In Scotland the rate fell from 10.8 per cent to 7.6 per cent.

House price inflation rose in all of the English regions. The highest inflation rate remains in Yorkshire and the Humber (8.9 per cent), followed by North East (7.3 per cent), London (7.1 per cent) and North West (6.5 per cent). Inflation rates were lower in other parts of England; in South West (3.7 per cent), East (3.2 per cent), East Midlands and South East (both 2.8 per cent) and West Midlands (2.0 per cent).

House Prices: Regional

Mix-adjusted average house prices in April were £196,943 in England, £151,226 in Wales, £132,201 in Scotland and £142,475 in Northern Ireland.

The English region with the highest average house price in April remains London at £278,257. The lowest average price was in the North East at £136,253.

Only the East, London, South East and the South West had average prices above the UK average.

House Price Inflation: Type of buyer

The UK house price inflation rate for first time buyers rose from 4.6 per cent in March to 4.9 per cent in April. This was due to a rise of 0.7 per cent in prices between March and April in the properties bought by first time buyers compared with a smaller rise of 0.4 per cent over the same period last year.

The inflation rate for former owner occupiers rose from 2.8 per cent in March to 5.2 per cent in April. This was due to a rise of 1.0 per cent in prices between March and April in the properties bought by former owner occupiers, compared with a fall of 1.3 per cent over the same period last year.

The average price paid by first time buyers across the whole of the UK was £146,248 in April, while the average price paid by former owner occupiers was £206,222.


Sign up to our daily email