The Office for National Statistics January 2014 House price Index reports that house prices, and hence the housing market, have started the year strong.

ONS Sept 13 HPIThe Office for National Statistics January 2014 House price Index reports that house prices, and hence the housing market, have started the year strong.

Key Figures

  • Average UK house prices have increased by 5.5% over the month since December 2013
  • Price increased by 6.8% in January compared to a year earlier in January 2013
  • The UK average house price now stands at £254,000 (mix-adjusted)
  • First time buyers paid 7.6% more on average than in January 2013 whereas Owner-occupiers paid 6.5% more

 

Regional picture

Regionally prices have reflected the bouyant market, with London showing the highest growth:

    1. England prices grew by 7.1%
    2. Wales prices grew by 6.9%
    3. Scotland grew by 1.4%
    4. Northern Ireland grew by 2.7%