Call us today on 0141 552 9193
GLP News

News, Comment & Opinions on the latest legal stories

Glasgow Law Practice White

Practice made perfect

House Price Index for August

The Office for National Statistics (ONS) has published its House Price Index (HPI) for the month of August 2013.

The Index shows that UK average house prices increased by 3.8% over the year to August 2013, up from an increase of 3.3% in the year to July 2013. This increase follows the moderate house price increases the UK has experienced since April 2012.

The Index also shows that:

  • House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average.
  • The year-on-year increase reflected growth of 4.1% in England, 1.1% in Northern Ireland and 1.0% in Wales, offset by a fall of 0.7% in Scotland.
  • In August 2013, the UK HPI surpassed its previous peak in January 2008 (185.5) by 0.3%.
  • Annual house price increases in England were driven by London (8.7%), the East Midlands (3.8%) and the West Midlands (3.5%).
  • Excluding London and the South East, UK house prices increased by 2.1% in the 12 months to August 2013.
  • On a seasonally adjusted basis, UK house prices increased by 0.5% between July and August 2013.
  • In August 2013, prices paid by first-time buyers were 4.9% higher on average than in August 2012. For owner-occupiers (existing owners), prices increased by 3.3% for the same period.

Contact our Lawyers

Our solicitors are based in Glasgow and can help you, whatever legal advice you need, including advice on buying or selling your home. Complete our online enquiry form here or come in to see us at one of our offices.