ONS: House prices up 2.6pc

Sam Cordon

June 18, 2013

House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average.

The year-on-year increase reflected growth of 2.8% in England and 6.2% in Wales, which were offset by declines of 1.2% in Scotland and 0.8% in Northern Ireland.

Annual house price increases in England were driven by a 6.0% rise in London and a 3.6% increase in the East Midlands.

Andy Knee, chief executive of LMS, said: “Despite the fact that house prices across the UK are remaining reasonably stable, the 6% rise witnessed in the capital has seriously affected the overall average.

“Therefore, the 2.6% year-on-year increase announced this morning does not accurately represent what is happening in the market as a whole.”

Excluding London and the South East, UK house prices increased by 1.4% in the 12 months to April 2013.

On a seasonally adjusted basis UK house prices increased by 0.4% between March and April 2013.

In April 2013, prices paid by first-time buyers were 4.7% higher on average than in April 2012. For owner-occupiers prices increased by 1.9% for the same period.

Sign up to our daily email