UK average house prices increased by 1.9% over the year to February 2013, the Office for National Statistics has reported.
It says the “average UK mix-adjusted house price” stood at £233,000 in February. Annual house price rises were driven by a 5.9% rise in London prices.
Excluding London and the South-East, UK house prices rose by just 0.6% in the year to February and stood at £186,000.
The ONS puts the average London house price at £395,000 and in the North-East at £143,000. Average house prices are £125,000 in Northern Ireland, £177,000 in Scotland and £160,000 in Wales.
The ONS says that UK first-time buyers paid an average of £173,000 for their property in February. The average price paid by a home mover was £269,000.
The average price of a new home in February was £230,000, less than the average of £234,000 for a pre-owned home.
As usual, the ONS statistics are completely at odds with those of the Land Registry, which excludes the price of new homes.
The Land Registry reports that the average price paid by all types of buyers for a property in England and Wales during February was £162,606 – lower than the ONS quotes for first-time buyers alone.
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Comments
"If a would be ftb'er invested the money they had saved in something that grew faster than 1.9% last year, will they have made the right or wrong decision."
Depends on the would-be FTBer's stance on the matter, doesn't it?
If they consider accruing interest to be more important than home ownership then they will think they made the right decision. If, in order to accrue a few extra quid, they 'lost' the home of their dreams - then they will no doubt be (inwardly, at least...) rueing their course of action.
You are somehow linking this article to invetsment performance but the article gives no indication of this
It is just a set of figuers with no analysis
If a would be ftb'er invested the money they had saved in something that grew faster than 1.9% last year, will they have made the right or wrong decision.
To buy fool, too many fooled by the idiots telling them to wait as a crash was coming. You cant be that thick can you, or upset you are one of the idiots?
Waited too long for what?
it will for those who have waited too long!
It'll definitely all end in tears...