UK house prices continue to grow

Posted: 10 Jul 2007 10:40:40 GMT

Homeowners across the UK will be glad to hear that house prices throughout the country have grown in the second quarter of 2007.

Homeowners across the UK will be glad to hear that house prices throughout the country have grown in the second quarter of 2007.

The Nationwide Quarterly House Price Report shows that every single region in the UK saw at least a five per cent rise in the last year.

However, the report also highlights that the rate of growth is slowing and that some regions saw much greater growth than others.

London remains the most expensive place to buy a property, meaning that many homeowners in the capital may be sitting pretty with the average property worth around £292,409.

Northern Ireland also has a high average price, with properties selling for around £225,447.

The province saw the largest growth per quarter, with a 7.8 per cent rise, while the yearly increase was a massive 54 per cent.

"The speed of house price growth in Northern Ireland remains astonishing and well above that of other UK regions," commented Fionnuala Earley from Nationwide.

"Prices increased by at least five per cent in every region of the UK over the past 12 months, with five out of 13 regions recording double-digit growth."

© Houseladder Ltd