House Prices UK
House Prices UK
House prices in Scotland. House prices in England and London.
House Prices in the UK.
House prices in the UK rose about 1.8 per cent year-on-year to £174,000 (The average price paid by a first time buyer). The value of a typical 3-bed semi is £234 000 now. The Office of National Statistics announced the growth rate was slower than 2.3% in May and June.
The house prices in England were 2.4% higher and the average price was 242 000.
The house prices in Scotland were 1.1% lower down to £183 000.
House prices in Wales went down to £159 000 – which is less 0.2 per cent.
Northern Ireland observed a 10.9% drop down to £130 000 (year-to-year).
“It appears prices have broadly stabilized” – said Ben Thompson of the Legal & General Mortgage Club.
Boss of estate agent Marsh & Parsons stated: “It’s early days but house prices are showing tentative signs of strengthening”.
South-East England (and London)
The biggest rise in prices have been registered in the South-east of England: in London house prices rose on average to 397 000, which is 5.7 per cent.
The higher, 7% rate of stamp duty was imposed on sales worth more than £2 million in the Budget, but there is still a strong demand for trophy homes in most exclusive districts of London. Foreign buyers have flooded into London, drawn by the relative weakness of the pound. City is considered as a ‘safe heaven’ in the time of political and financial instability of the world. The summer time usually is quiet, so current situation looks pretty good. The most expensive sale recorded by the Land Registry in July 2012 was a house on Lansdowne Road in Notting Hill, went for £22 million.
North East England
There was drop in the North East – 0.5%. In the northern part of England you can buy a house for only £145 000.
Consumer Price Index inflation dropped 0.1% down to 2.5 (a move down in compare with the last year).
Due to rising food and oil prices the overall changes may be short-termed.
The ONS revealed: Retail Price index inflation fell down to 2.9% in August 2012 from 3.2% in July (including housing costs).
Coming soon Zoopla estate appraisal.
Tags: house prices, Land Registry, land, House prices in England, House prices in Scotland and Wales, estate appraisal
20 Sept 2012