House prices increased by 8 per cent in the last year

Wed, 15 Jun 2016

Official figures show that house prices in London have risen by 14.5 per cent, as prices increased across the whole of the UK.

According to the UK House Price Index, the average UK property price now stands at £209,054, after prices rose 8.2 per cent in the year to April.

For the South West, Wales and the North East, prices fell 2.8 per cent, 1.9 per cent and 0.9 per cent, between April and March.

In Scotland prices rose to £138,445, after a 3.3 per cent increase, with Welsh homes now costing an average of £139,385, after a 1.7 per cent rise. For the North East, the average price sits at £121,719, with London properties now costing an average of £470,025.

The average price of a house in the North West reached £145,149 in April, rising 2.3 per cent from March. This region had the highest price increase in that time period, with London's average price rising by 0.6 per cent.

There was a slight difference in price change depending on property type. The price of a detached home rose 7.3 per cent, to £332,968 on average, while for semi-detached homes, the price rose 9.7 per cent to £209,075 on average.

For terraced homes, the price increased 10 per cent, to £183,666 on average, while flats and maisonettes saw a 9.3 per cent climb to £210,281 on average.

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