Average prices break £200k barrier

Posted: 13 Feb 2007 10:12:32 GMT


            Property News - Average prices break £200k barrier

The average house price in the UK has climbed above £200,000 for the first time, government statistics have revealed

The average house price in the UK has climbed above £200,000 for the first time, government statistics have revealed.

House prices rose 9.9 per cent over the last year to reach £201,090 said the Department for Communities and Local Government (DCLG).

Northern Ireland saw the greatest growth, up 39.9 per cent over the year to £191,505, while Scottish properties rose 15.2 per cent to £147,687.

"There was little Yuletide cheer for would-be buyers with house prices up countrywide, despite two interest rate rises in 2006," said the Royal Institution of Chartered Surveyors.

"However, rate rises since the autumn will start to slow the market in 2007, although accessibility will continue to deteriorate as buyers struggle to raise sufficient deposits."

London remains the country's priciest area, with an average property worth £296,160, more than double the average £146,183 price in the north east.

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