The UK average house price rose by 10.1 per cent in the year to April 2010, compared with a rise of 9.7 per cent in the year to March. In the month to April 2010 there was a rise of 0.4 per cent in house prices compared with a fall of 0.4 per cent over the same period last year, resulting in an increase in annual house price growth.
House Price Index: Country
Annual house prices rose in all UK countries except Northern Ireland in the year to April 2010. Annual house price growth was 10.9 per cent in England, 2.2 per cent in Scotland and 11.3 per cent in Wales. In Northern Ireland prices fell by 8.9 per cent on average in the year to April.
House Price Index: Region
Average mix-adjusted house prices rose during April in all English regions with the exception of Yorkshire and the Humber, which fell by 0.5 per cent (not seasonally adjusted). The largest increase was in the East Midlands (2.7 per cent) and the smallest in the South East (0.2 per cent).
All regions have seen an increase in house prices over the year to April. The largest being in London (16.8 per cent) and the smallest in Yorkshire and the Humber (4.0 per cent). There was annual growth in the East of England (11.9 per cent), South West (11.5 per cent), South East (10.1 per cent), East Midlands (9.2 per cent), West Midlands (9.1 per cent), North East (7.8 per cent) and North West (6.7 per cent).
House Prices: Countries and Regions
Average mix-adjusted house prices in April 2010 were £214,863 in England, £162,392 in Scotland, £151,079 in Wales and £163,201 in Northern Ireland. London remains the English region with the highest average house price (£332,677). The North East was the lowest at £139,595.
In England, the East of England, London, South East and South West all had average prices above the UK average in April.
House Price Index: Type of Buyer
Annual growth in UK house prices for first time buyers was 12.2 per cent in April compared to 12.6 per cent in March. There was an increase of 1.4 per cent in the month to April compared to an increase of 1.7 per cent in the same period last year.
Annual growth for former owner occupiers was 9.3 per cent in April compared to 8.6 per cent in March. Between March and April 2010 the price of properties bought by former owner occupiers grew by 0.5 per cent, compared to a fall of 0.6 per cent in the same period last year leading to a small decrease in the annual growth.
The average house price paid by first time buyers in the UK in April was £153,803 compared to £240,629 paid by former owner occupiers.
House Price Index: New and pre-owned dwellings
Annual growth in UK house prices for new properties was 7.6 per cent in April compared to 1.3 per cent in March. There was an increase of 5.6 per cent in the price paid for new properties in the month to April compared to a fall of 0.6 per cent in the same period last year. This is the largest month on month increase for new properties since December 2008. The annual house price growth rate for pre-owned dwellings was 10.3 per cent in April, the same as in March.
The average price paid for a new property in the UK in April was £195,675 and the average price paid for a pre-owned property was £208,451.
