Average UK house price passes £200,000
Government figures show that the price of a house in the UK has now surpassed £200,000. The official figures are higher than those recently released by mortgage lenders such as the Halifax and Nationwide. The differences – the Halifax showed average house prices at £188,623 and Nationwide said the average price of a house is at £173,325 – were put to variations in sampling techniques, but all show that housing prices are up in the UK.
According to the new data from the Department for Communities & Local Government, the average price for a house in the UK is now £201,090. The DCLG says that this is the first time UK prices have breached the £200,000 level, but Land Registry data said that average prices last summer stood at £211,453.
Prices are still highest in London, with an average of £296,160, while the lowest prices are in the North East, at an average of £146,183. In Northern Ireland, prices are 39.9 percent higher than they were last year at this time, while growth was least in the East Midlands, at 6.1 percent growth in the past year. The rate of house price growth declined in three regions in December, with growth down from 10.2 percent to 9.1 percent in Wales, a drop from 8.4 percent to 7.4 percent in the North West, and a decline from 7.8 percent to 7.7 percent in the South West.