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DCLG: January sees strong house price rises

Monday, 12 March 2007 12:00 AM

House prices rose strongly in January, the government revealed today.

Figures from the Department for Communities and Local Government (DCLG) show the average home in the UK was up from £201,090 to £205,286 from December 2006 to January 2007.

This sees annual house price inflation up a percentage point over the same period, reaching 10.9 per cent in January.

Detached properties experienced the biggest rises over the month, rising by 4.9 per cent, followed by terraces (up two per cent), bungalows (up 1.5 per cent) and flats (up 0.3 per cent).

The average price of semi-detached homes stayed virtually static over the same period, increasing less than 0.1 per cent.

The house price survey also reveals the average price paid by first-time buyers was £158,097, compared with £225,415 for those already on the property ladder.

"The UK house price inflation rate for first time buyers rose from 9.4 per cent in December to 10.6 per cent in January," the DCLG stated.

"There was a rise of 1.9 per cent in the prices index between December and January in the properties bought by first time buyers compared with a rise of 0.8 per cent over the same period last year."

England had the highest average UK house price at £212,845 in January, followed by Northern Ireland (£198,476), Wales (£162,610) and Scotland (£150,509).

London continues to be the most expensive region to buy a home in the UK, at £305,248. The north-east had the lowest average house price in England at £145,091.

The only regions with above-average house prices were East Anglia, London, the south-east and the south-west.

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