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TODAY'S OTHER NEWS

Annual house price inflation now at 6.2% says government

House prices in the UK increased by 6.2 per cent in the year to January according to government figures.

The Office for National Statistics data shows the average UK house costing £218,000 in January, £13,000 up on the same month last year and £1,000 up on December.

England saw the biggest national rise - up 6.5 per cent in a year to £235,000.

Wales saw house prices increase by 4.2 per cent to £146,000, while in Scotland, the average price increased by four per cent annually to stand at £142,000. 

The average price in Northern Ireland currently stands at £125,000, an increase of 5.7 per cent over the last 12 months.

London is of course the region with the highest average house price at £491,000, followed by the South East and the East of England, at £319,000 and £279,000.

The lowest average price continues to be in the North East at £124,000.

  • Jon  Tarrey

    When will the endless increases stop? When the average prices reach £300,000, or £400,000? Of course, it's in the government's interests to keep prices high, so expect little to change in the coming years.

    The North East has the cheapest average asking price, but little demand because of a lack of job opportunities and a high number of people in relative property. It's all very well properties being cheap, but the demand simply isn't there. More jobs need to be created in deindustrialised towns and cities to make them more appealing places for people to live, drawing some of the jobs and investment away from the likes of London, Manchester, Birmingham and Liverpool. Otherwise the situation will get no better.

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