Official: annual house price rise in double digits

| June 16, 2010 | 0 Comments

House prices were 10.1% higher in April than a year earlier, having gained 0.4% during March.

New figures from the Department for Communities and Local Government put the average cost of a UK home at £207,516, taking into account a 0.9% rise over the three months to the end of April.

However, the quarterly increase was well below the 4.8% recorded in the previous three-month period.

On an annual basis, the typical value of a home rose 10.9% in England, 1.1% in Scotland and 11.3% in Wales but Northern Ireland remained in negative territory at minus 8.9%.

London remained the English region with the highest average house price in April, at £332,677, and the North East the lowest at £139,595.

For the typical first-time buyer, annual growth in prices stood at 12.2%, compared to 12.6% in March, and the average price paid by those getting a foot on the property ladder in April was £153,803.

Former owner occupiers forked out £240,629, on average.

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