PropertyInvesting.net: property investment ideas, advice, insights, trends
Propertyinvesting.net: Property Investment ideas, advice, insights, trends

PropertyInvesting.net: Property Investment News

 Property News

UK house prices rebound as lenders cut mortgage rates and more Bank of England cuts expected
05-11-2025
UK house prices rise for the first time since January
05-11-2025
When will the housing market crash? Economists don't foresee it in 2025
05-08-2025
UK - What’s happening with UK house prices? Latest property market moves explained
05-08-2025
UK house prices remain stable but one region sees values jump by 8% - how does your area rank?
05-08-2025
House Price Inflation Steadies Following Stamp Duty Change – Nationwide
05-06-2025
UK house prices fall but market ‘likely to pick up’ during summer
05-06-2025
How much impact do transport improvements have on house prices?
05-06-2025
Is the UK about to see a house price crash?
04-29-2025
House price growth falls - and is forecast to slide further as market 'loses momentum'
04-29-2025

more news articles...

House prices rising across the UK, says ONS


01-15-2014

House prices rising across the UK, says ONSKeys An increase in first-time buyers has led to more activity in the housing market

Keys

Annual house price growth rose faster than the cost of living in November, even if London is removed from the calculations, official figures show.

Property prices "increased strongly" across parts of the UK, the Office for National Statistics (ONS) said.

House prices were up by 5.4% in the UK in November, compared with a year earlier, and up 11.6% in London.

But, excluding London and the south east of England, prices were up by 3.1%, compared with 2.1% inflation.

The Consumer Prices Index measure of inflation charts the rising general cost of living.

Regional rises
 
House price growth has largely be driven by London over the last year, although other areas have started to show accelerating price growth.


National and regional changes
England: up 5.6%
Wales: up 5.4%
Northern Ireland: up 3.3%
Scotland: up 2.5%
London: up 11.6%
South East: up 4.5%
West Midlands: up 4.4%
North East: up 4.2%
East: up 4.1%
Yorkshire and the Humber: up 3.2%
South West: up 3.1%
East Midlands: up 2%
North West: up 0.6%


Source: ONS annual change, Nov 2013

The ONS recorded year-on-year increases of 5.6% in England, 5.4% in Wales, 2.5% in Scotland and 3.3% in Northern Ireland.

Regionally, there were rises of 4.5% in the south east of England, 4.4% in the West Midlands, and 4.2% in the north east of England. Every region showed annual house price growth.

"The regions are becoming more buoyant. In the south east we are seeing the flow of those buyers, particularly UK-based buyers, being ousted from the London property market and having to look further out, thus providing a halo effect on prices," said Adrian Anderson, director of mortgage broker Anderson Harris.

The annual rise in house prices in November was very similar to a 5.5% annual increase recorded in October, the ONS said.

Although the annual comparison did not show any acceleration, prices were higher than the previous month.

They rose by 0.5% in November compared with October, with the average home valued at £248,000.

The ONS house price index is based on mortgage completions, and is more comprehensive than figures from the Halifax and Nationwide which are based on their own mortgage data.

www.bbc.co.uk

back to top

Site Map | Privacy Policy | Terms & Conditions | Contact Us | ©2018 PropertyInvesting.net