| Published |
11 November 2008 |
Summary
The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 11 November 2008.
The latest statistics release includes data based on mortgage completions during the month of September 2008.
The key points from the release are:
- UK house prices were 5.1 per cent lower than in September 2007
- The mix-adjusted average house price in the UK stood at £208,583 in September 2008 (not seasonally adjusted)
- UK house prices fell by 3.0 per cent in the quarter ending September 2008. This compares with a fall of 1.0 per cent for the quarter ending June 2008
- Annual average house prices fell in England (-5.1 per cent), Wales (-5.2 per cent), Scotland (-0.8 per cent) and Northern Ireland (-15.8 per cent)
- Annual average house prices paid by first time buyers in September 2008 were 7.8 per cent lower than a year ago. By comparison average house prices paid by former owner occupiers were 4.0 per cent lower
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