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House Prices RIse By Over 12% to 7 Year High

UK house prices have risen by 12.1% in the year to the end of September according to the Office for National Statistics.

7.6% Rise in Scotland

Prices rose at the faster rate in London with properties rocketing over 16% in value. Despite some statistics suggesting that property prices fell, the ONS data showed that prices across the UK rose, with an increase of 7.6% in Scotland.

7 Year High

Despite claims that house prices have fallen, or levelled out in the UK, the ONS report indicated a month to month rise of at least 0.5% across the UK. There was bad news for first time buyers however with the report finding that first time buyers had a harder time getting on the ladder in 2014 with prices averaging to be 13.3% higher than in September 2013.

The supposed rise from the ONS data indicated that prices in the UK reached a 7 year high.

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