UK house prices increase by 2.6%

Key points from Office of National Statistics House Price Index

• In the 12 months to April 2013 UK house prices increased by 2.6%, down from a 2.7% increase in the 12 months to March 2013.
• House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average.
• The year-on-year increase reflected growth of 2.8% in England and 6.2% in Wales, which were offset by declines of 1.2% in Scotland and 0.8% in Northern Ireland.
• Annual house price increases in England were driven by a 6.0% rise in London and a 3.6% increase in the East Midlands.
• Excluding London and the South East, UK house prices increased by 1.4% in the 12 months to April 2013.
• On a seasonally adjusted basis, UK house prices increased by 0.4% between March and April 2013.
• In April 2013, prices paid by first-time buyers were 4.7% higher on average than in April 2012. For owner-occupiers (existing owners) prices increased by 1.9% for the same period.

Average house prices in countries and regions

Average mix-adjusted house prices in April 2013 stood at £247,000 in England, £162,000 in Wales, £127,000 in Northern Ireland and £177,000 in Scotland.

In April 2013, London continues to be the English region with the highest average house price at £414,000. The North East had the lowest average house price at £143,000. London, the South East and the East of England all had prices higher than the UK average price of £238,000.

House Price Index by type of buyer

The average price for properties bought by first-time buyers increased by 4.7% over the year to April 2013, up from an increase of 1.3% in March 2013. During April 2013 the average price paid for a house by a first-time buyer was £179,000.

The average price for properties bought by former owner-occupiers (existing owners) increased by 1.9% in the year to April 2013, down from an increase of 3.2% in March 2013. In April 2013, the average price paid for a house by a former owner-occupier was £273,000.

House Price Index by new and pre-owned dwellings

During the year to April 2013 prices paid for new dwellings increased by 4.4% on average, compared with an increase of 1.0% in the year to March 2013. The average UK house price for new dwellings in April 2013 was £234,000.

During the year to April 2013 prices paid for pre-owned dwellings increased by 2.5% on average, compared with an increase of 2.8% in the year to March 2013. The average UK house price for pre-owned dwellings in April 2013 was £238,000.

Regional all dwellings annual house price rates of change

12 month percentage change for April 2013