House prices grow again
June 12, 2007 by admin
Filed under News, News-Mortgages
House prices have continued to grow in the UK, according to new figures from Communities and Local Government (CLG).
The CLG’s house price index highlighted a 1.2 per cent increase in property prices between March and April of this year.
It means that the average buyer can expect to have to take out a mortgage of £209,454, signalling an 11.3 per cent increase within a year.
There were, of course, variations within the countries of the UK, with the average house price in England hitting £216,707.
Property in Northern Ireland is the most expensive, with the average price being £228,208, while Scotland is the cheapest at £115,516.
“The rise in UK prices between March and April can be attributed to increases in average prices for bungalows (1.9 per cent), terraced houses (1.7 per cent), semi-detached dwellings (1.4 per cent), detached properties (0.8 per cent) and flats (0.7 per cent),” a CLG statement said.
Northern Ireland saw the biggest year-on-year house price growth, with properties increasing in value by 54.1 per cent in the last 12 months.
The most expensive place to buy a house remains London, where the average price is £320,191.
