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DCLG: Detached houses lead prices drop

Monday, 11 December 2006 12:00 AM

Detached house prices dropped 2.1 per cent from September to October, leading the drop in house prices across the country, according to government figures for October.

House prices were down 0.3 per cent from September to October, with terraced houses also down over the same period with a fall of 0.1 per cent, the Department for Communities and Local Government (DCLG) house price index shows.

The average house price across the country was £197,987 in October, down from September's figure of £198,552.

However, house prices fell by less than they did over the same period last year - seeing annual house price inflation rising from eight to 8.6 per cent.

There were rises for semi-detached properties of 0.9 per cent from September to October, with bungalows and flats also up, rising 0.7 per cent and 0.3 per cent respectively.

The report finds there was no drop in house prices for first-time buyers, with people getting onto the property ladder paying 0.3 per cent more in October compared with the previous month.

The average first-time buyer home cost £153,083.

In contrast, owner occupiers paid 0.5 per cent less for their new homes over the same period, with an average price of £217,141 paid by former owner-occupiers in October.

Compared with the same time last year England, Scotland and Northern Ireland's house prices were up from September to October, reaching 7.9 per cent, 12.9 per cent and 31.6 per cent respectively.

Over the same period Welsh properties experienced a drop of 3.3 percentage points, going from 10.3 per cent to seven per cent compared with the same months last year.

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