Author Topic: UK house prices rises remain "subdued" say ONS  (Read 2767 times)

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UK house prices rises remain "subdued" say ONS
« on: January 16, 2013, 10:32:36 am »
The Office for National Statistics (ONS) House Price Index for November 2012 shows house prices remain subdued across most of the UK, with increasing prices in London and falling prices in Northern Ireland.

The recorded annual increase was in England was 2.5% in England, driven by a 5.0% rise in London and a 3.0% increase in the South East.
However Wales had just 0.8% growth and falls were recorded in both Scotland (1.1%) and Northern Ireland (8.5%).

In November 2012, prices paid by first-time buyers averaged 2.7% higher than in November 2011.
For owner-occupiers (existing owners) prices increased by 1.9% for the same period.

In the year to December 2012, there has been a 13% increase in average deposits to £64,325, along with a 9% rise in average mortgages loans to £150,427.
The national average loan to value (LTV) is around the 70% mark, bad news for first time buyers saving for a home.

However. cheaper deals are already appearing in January, with more flexible products to help first-time buyers with deposits of just 5%, and this should help to boost mortgage activity.
There are also some of the best fixed rates on offer since the summer of 2007.

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