UK House Prices Continue To Increase

A new survey has said house prices in the UK are now 5.8% higher than this time last year.

The latest study by Nationwide said prices increased by 1% in October to bring the average price of a home to £173,678.

As the Nationwide's figures are calculated on the number of mortgages it agrees to provide its customers, the statistics vary from the ones issues by the Land Registry earlier this week.

The Land Registry reported that house prices in both England and Wales were rising at a more sedate pace, with prices rising just 3.4% in the year to September. Its figures are based on actual sales, including cash buyers, as well as comparing the sale price of a property with its previous sale price, which means it can accurately track changes.

Discussing the study, Nationwide chief economist Robert Gardner said the market was following a "resilient upward trend".

It is thought recent government schemes such as Help to Buy and Funding for Lending has helped.


Related UK National News Stories
Click here for the latest headlines.

29 February 2008
January House Prices Show Slight Increase
House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
30 May 2003
Nationwide predicts housing market fall
Nationwide predicts a marked fall in the housing market as first time buyers are stymied due to housing affordability and the squeeze on disposable incomes. Commenting on the figures, Nationwide's Group Economist Alex Bannister, said: "Annual house price inflation declined to 21.3% in May from 22.2% last month.
29 September 2011
House Prices Stand Still
House prices in England and Wales have come to a halt according to the latest data from the Land Registry's House Price Index. The results showed the average house prices dropped by 0.3% in August to £162,347, 2.6% lower than last year.
07 September 2005
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
12 December 2005
House price inflation drops
Annual house price inflation dropped again in October, according to the latest figures from the Office of the Deputy Prime Minister. House price inflation was 2.2% in October, a fall from September’s figure of 3.3%. The ODPM reported that the average house price in the UK was £186,103 in October, compared with £186,755 in September.