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House prices fell 0.3% in July: DCLG

by admin
15 September 2010
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UK house prices were 8.4% higher than in July 2009 but 0.3% lower than in June 2010, according to the Communities & Local Government House Price Index.

The mix-adjusted average house price in the UK stood at £212,878 in July (not seasonally adjusted).

UK house prices rose by 0.8% in the quarter to July 2010 compared to an increase of 1.1% in the April quarter (seasonally adjusted).

Average house prices rose in all UK countries except Northern Ireland in the year to July 2010. There was annual house price growth In England (9.0%), in Scotland (3.7%) and in Wales (10.1%) whilst prices fell in Northern Ireland by 17.1%.

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Average mix-adjusted house prices in July were £220,240 in England, £170,782 in Scotland, £147,770 in Northern Ireland and £157,166 in Wales.
London remains the English region with the highest average house price (£347,855). The North East was the lowest at £140,075.

In England, the East of England, London, South East and South West all had average prices above the UK average in July.

Average prices paid by first time buyers increased by 7.5% over the year to July whilst prices paid by former owner occupiers increased by 8.7%.

Average prices paid for new properties were 9.5% higher than a year ago and prices paid for pre-owned dwellings were 8.3% higher.

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