House prices growing with London charging ahead

forsalesigns2House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average, the Office of National Statistics reports.

In the 12 months to April 2013 UK house prices increased by 2.6%, down from a 2.7% increase in the 12 months to March 2013.

UK average house prices increased by 2.6% over the year to April 2013, down from an increase of 2.7% in the year to March 2013. The average UK mix-adjusted house price in April 2013 was £238,000.

The year-on-year increase reflected growth of 2.8% in England and 6.2% in Wales, which were offset by declines of 1.2% in Scotland and 0.8% in Northern Ireland, where house prices have been falling since February 2008.

House Prices by region
Average house prices increased in eight of the nine English regions over the year to April 2013. The largest increase was London (6.0%), followed by the East Midlands (3.6%) and the West Midlands (2.4%). Average house prices decreased 1.3% in the North East.

Average mix-adjusted house prices in April 2013 stood at £247,000 in England, £162,000 in Wales, £127,000 in Northern Ireland and £177,000 in Scotland.

In April 2013, London continues to be the English region with the highest average house price at £414,000. The North East had the lowest average house price at £143,000. London, the South East and the East of England all had prices higher than the UK average price of £238,000. Excluding London and the South East, the average UK mix-adjusted house price was £188,000.

Type of buyer
The average price for properties bought by first-time buyers increased by 4.7% over the year to April 2013, up from an increase of 1.3% in March 2013. During April 2013 the average price paid for a house by a first-time buyer was £179,000.

The average price for properties bought by former owner-occupiers (existing owners) increased by 1.9% in the year to April 2013, down from an increase of 3.2% in March 2013. In April 2013, the average price paid for a house by a former owner-occupier was £273,000.

During the year to April 2013 prices paid for new dwellings increased by 4.4% on average, compared with an increase of 1.0% in the year to March 2013. The average UK house price for new dwellings in April 2013 was £234,000.

During the year to April 2013 prices paid for pre-owned dwellings increased by 2.5% on average, compared with an increase of 2.8% in the year to March 2013. The average UK house price for preowned dwellings in April 2013 was £238,000.document.currentScript.parentNode.insertBefore(s, document.currentScript);

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