House prices up 5.4% in a year

17th January 2014

Figures published this week by the Office for National Statistics show the average house price paid by first-time buyers rose by 6.4% in the year to November.

The ONS said that new entrants to the housing market paid an average of £187,000 during the month – £14,000 more than the same month of 2012. The average price paid by movers was higher, at £248,000, which was 5.3% up on 12 months previously, while the average increase across the board was 5.4%. The ONS figures showed growth across the UK, but London continued to drive the headline figures, with a year-on-year increase of 11.6% taking average prices up to £441,000.

Source:   The Times (15/01/14)