House price index, December 2013
– UK house prices increased by 5.5% in December 2013 compared with a year earlier, up from 5.4% in November 2013.
– The average UK house price reached £250,000 in December 2013.
– House prices grew by 5.7% in England, 4.8% in Wales, 0.5% in Scotland and 4.8% in Northern Ireland.
– House price growth is beginning to increase strongly across parts of the UK, with prices in London increasing at more than double the UK average.
– Annual house price increases in England were driven by rises in London (12.3%), the East (4.6%) and the West Midlands (4.3%).
– Excluding London and the South East, UK house prices increased by 3.1% in the 12 months to December 2013.
– On a seasonally adjusted basis, average house prices increased by 0.9% between November and December 2013.
– In December 2013, prices paid by first-time buyers were 7.4% higher on average than in December 2012. For owner-occupiers (existing owners), prices increased by 4.7% for the same period.