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ONS publishes latest House Price Index

The Office for National Statistics (ONS) has published details of the House Price Index for October 2013.

The figures reveal an increasingly positive picture with regard to UK house prices, with prices apparently rising 5.5% in the 12 months to October 2013. This is an increase over the 3.8% rise that took place in the 12 months to September 2013.

The growth in prices was felt across the UK, with prices rising by 5.7% in England, 2.0% in Wales, 3.3% in Scotland and 4.8% in Northern Ireland.

Other key findings of the statistics include:

  • House price growth is beginning to increase across parts of the UK, with prices in London increasing faster than the UK average.
  • In October 2013, the UK mix-adjusted House Price Index reached 186.3, surpassing the record level witnessed in August 2013 by 0.2%.
  • Annual house price increases in England were driven by rises in London (12.0%), the East of England (4.8%) and the West Midlands (4.7%).
  • Excluding London and the South East, UK house prices increased by 3.1% in the 12 months to October 2013.
  • On a seasonally adjusted basis, average house prices increased by 1.4% between September and October 2013.
  • In October 2013, prices paid by first-time buyers were 5.9% higher on average than in October 2012. For owner-occupiers (existing owners), prices increased by 5.3% for the same period.

Contains public sector information licensed under the Open Government Licence v2.0.

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