ONS reports house price increase

Posted: 14 Apr 2015 13:06:03 GMT

            Property News - ONS reports house price increase

House prices across the UK increased in February.

The latest figures published by the Office for National Statistics (ONS) have shown a continued increase in UK house prices over the last 12 months.

According to the organisation's findings, the year to February witnessed a 7.2 per cent annual rise in typical property values across the whole of the UK, although this figure did fall from the 8.4 per cent increase reported in the year to January.

In England, house price inflation stood at 7.4 per cent, while growth in other parts of the UK varied: a 1.1 per cent rise in Wales, 6.4 per cent growth in Scotland and a 14.2 per cent upturn in Northern Ireland.

Excluding London and the south-east, property values in England rose by 5.9 per cent in the 12 months to February, while in the aforementioned areas growth was shown to be far stronger than in the rest of the country (up 10.7 per cent and 9.4 per cent respectively).

Overall, the UK housing market remains in a positive state of growth, with a 0.6 per cent increase in typical home values from January to February this year.

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