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House Prices Continue to Rise

Tuesday, January 13, 2015

The ONS' November House Price Index has shown that UK house prices increased by 10.0% in the year to November 2014, down from 10.4% in the year to October 2014.

On a monthly basis, average house prices increased by 0.2% between October and November 2014.

The figures confirmed that house prices "continued to increase strongly" across the majority of the UK, with prices in London again showing the highest growth at 15.3%.

Excluding London and the South East, UK house prices increased by 7.1% in the 12 months to November 2014.

In November, prices paid by first-time buyers were 11.0% higher on average than in November 2013. For existing owners, prices increased by 9.5% for the same period.

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