Jun 12 2007
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The mix-adjusted average house price in the UK in April 2007 stood at £209,454, up from £206,890 in March 2007 (not seasonally adjusted).
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UK annual house price inflation in April 2007 was 11.3 per cent, up from 10.9 per cent in March 2007. Annual house price inflation in London was 14.0 per cent in April, up from 13.9 per cent in March.
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The UK annual house price inflation rate for the 3 months to April was 11.3 per cent and 14.7 per cent in London.
House price inflation: regional
The UK house price inflation rate rose from 10.9 per cent in March 2007 to 11.3 per cent in April 2007. Between March and April there was a rise of 1.2 per cent in the prices index of properties bought compared with a smaller rise of 0.8 per cent over the same period last year resulting in an increase in the inflation rate.
The rise in UK prices between March and April can be attributed to increases in average prices for bungalows (1.9 per cent), terraced houses (1.7 per cent), semi-detached dwellings (1.4 per cent), detached properties (0.8 per cent) and flats (0.7 per cent).
Wales saw a decrease in inflation in April 2007, from 9.7 per cent in March to 9.0 per cent in April. England, Scotland and Northern Ireland all saw house price inflation increases. In England annual house price inflation rose from 9.8 per cent in March to 10.0 per cent in April; In Scotland there was a rise in the rate from 14.8 per cent in March to 17.8 per cent in April; In Northern Ireland annual house price inflation in April was 54.1 per cent compared with 50.1 per cent in March.
House price inflation rose in five of the English regions, remained level in two regions and fell in two regions.
The highest inflation rate was in London (14.0 percent) followed by South East (10.6 per cent), South West (10.0 per cent) Inflation rates were lower in the East (8.6 per cent), Yorkshire and the Humber (8.2 per cent) and the East Midlands (8.1 per cent). The lowest inflation rates were in the North East and North West (both 7.9 per cent) and the West Midlands (7.1 per cent).
House prices: regional
Mix-adjusted average house prices in April were £216,707 in England, £162,170 in Wales, £155,516 in Scotland and £228,208 in Northern Ireland.
The English region with the highest average house price in March remains London at £320,191. The lowest average price was in the North East at £145,875.
Of the English regions, only the East, London, South East and the South West had average prices above the UK average.
House price inflation: type of buyer
The UK house price inflation rate for first time buyers rose from 10.8 per cent in March to 11.2 per cent in April. There was a rise of 1.3 per cent in the prices index between March and April in the properties bought by first time buyers compared with a smaller rise of 1.0 per cent over the same period last year.
The inflation rate for former owner occupiers rose from 10.9 per cent in March to 11.3 per cent in April. There was a rise of 1.2 per cent in the prices index between March and April in the properties bought by former owner occupiers, compared with a smaller rise of 0.8 per cent over the same period last year.
The average price paid by first time buyers across the whole of the UK was £159,977 in April, while the average price paid by former owner occupiers was £233,726.