The Office for National Statistics May House price Index shows strong yearly price increases. 10.5% increase for UK House Prices over the year from June 2013 to May 2014 and 9.9% increase in the year to April 2014

ONSLogoThe Office for National Statistics May House price Index shows strong yearly price increases.

Key facts:

  • 10.5% increase for UK House Prices over the year from June 2013 to May 2014 and 9.9% increase in the year to April 2014
  • By country in the UK this is split by
    • England : 11% increase
    • Wales : 6.5%
    • Scotland : 3.6%
    • Norther Ireland : -0.7%

  • London continues to show the highest growth up to May 2014, but all parts of the UK are also reflecting this with strong increases
  • Average UK House Price now stands at £262,000

Although the countries in the UK have seen some positive increase over the past months, and a slightly fall for Northern Ireland this month, it is only England that has seen prices break the pre-financial crisis peaks seen in January 2008.

Regionally within England London is the only place above the national average increase of 10.5%. The next best increase is the South East at 9.6% and the East at 8.6% – both undoubtably seeing knock ons from the large London increases.

The North Wets is the area with the smallest yearly increase with only a 3.9% rise, only just behind the North East with 4.8% increase.