LETTING & ESTATE AGENT

Annual house price inflation still growing, says official statistician

Annual house price inflation still growing, says official statistician

Annual UK house price inflation has continued to grow, the Office for National Statistics has reported.

The ONS – whose figures were used in Monday’s BBC Panorama programme looking at whether there is a house price bubble – says that in September, house prices in England stood at £255,000; in Wales £163,000; in Northern Ireland £127,000; and in Scotland £181,000.

All told, in the 12 months to September, UK house prices increased by 3.8%, up from a 3.7% increase in the 12 months to August.

The year-on-year increase reflected growth of 4.2% in England and 1.4% in Wales, offset by falls of 1.1% in Scotland and 1.5% in Northern Ireland. House prices in London went up 9.4%.

Excluding London and the south-east, UK house prices increased by 1.4% in the 12 months to September to stand at £192,000.

On average, new homes increased more at 5.9% than secondhand ones at 3.7%. A new home cost an average of £228,000 in September, less than a used home at £246,000.