Hennessy Bowie Solicitors News
Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,
ONS Publishes House Price Index for June
The Office for National Statistics (ONS) has recently released its House Price Index for June 2014, which reveals that UK house prices increased by 10.2% in the year to June 2014, down from 10.4% in the year to May 2014.
The figures also show that:
- House price annual inflation was 10.7% in England, 3.5% in Wales, 6.0% in Scotland and 4.9% in Northern Ireland.
- House prices are increasing strongly across most parts of the UK, with prices in London again showing the highest growth.
- Excluding London and the South East, UK house prices increased by 6.3% in the 12 months to June 2014.
- Average mix-adjusted house prices in June 2014 stood at £276,000 in England, £167,000 in Wales, £137,000 in Northern Ireland and £193,000 in Scotland. Excluding London and the South East, the average UK mix-adjusted house price was £201,000.
According to the ONS report, the average price for properties bought by first-time buyers increased by 12.0% over the year to June 2014, up from an increase of 11.3% in May 2014. This is apparently the highest annual increase for first-time buyers since April 2010, when prices increased by 12.4%. In June 2014 the average price paid for a house by a first-time buyer was £204,000.
The average price for properties bought by former owner-occupiers (existing owners) increased by 9.5% in the year to June 2014, down from an increase of 10.0% in May 2014. In June 2014, the average price paid for a house by a former owner-occupier was £304,000.
Contains public sector information licensed under the Open Government Licence v2.0.
Our solicitors can help you buy or sell your home in Scotland. To make an online enquiry please click here or call us on 0141 775 0005.
Please login first in order for you to submit comments
Let us know how we can help - complete our online enquiry