House prices remain stable, says ONS survey
According to the latest House Price Index from the Office for National Statistics, UK house prices increased by 2.7% in the 12 months to March 2013 up from a 1.9% increase in the 12 months to February 2013.
House price growth remains stable across most of the UK, although prices in London are increasing and prices in Northern Ireland are falling.
The year-on-year increase reflected growth of 3.0% in England and 1.2% in Wales, which were offset by declines of 1.7% in Scotland and 2.0% in Northern Ireland.
Annual house price increases in England were driven by a 7.6% rise in London and a 3.3% increase in the South East.
Excluding London and the South East, UK house prices increased by 0.6% in the 12 months to March 2013. On a seasonally adjusted basis, UK house prices increased by 0.4% between February and March 2013.
In March 2013, prices paid by first-time buyers were 1.3% higher on average than in March 2012. For owner-occupiers (existing owners) prices increased by 3.2% for the same period.
Get all the tables for this publication in the data section of this publication .
The year-on-year increase reflected growth of 3.0% in England and 1.2% in Wales, which were offset by declines of 1.7% in Scotland and 2.0% in Northern Ireland.
Annual house price increases in England were driven by a 7.6% rise in London and a 3.3% increase in the South East.
Excluding London and the South East, UK house prices increased by 0.6% in the 12 months to March 2013. On a seasonally adjusted basis, UK house prices increased by 0.4% between February and March 2013.
In March 2013, prices paid by first-time buyers were 1.3% higher on average than in March 2012. For owner-occupiers (existing owners) prices increased by 3.2% for the same period.
Get all the tables for this publication in the data section of this publication .
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
This week's biggest stories:
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
Mortgages
FCA and PRA remove 15% LTI cap for mortgage lenders
GDP
August rate cut likely as GDP falls for second consecutive month
