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.

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