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Written by rosalind renshaw

Growth in the South-East and London drove house prices up by 3.3% in 2012, according to the Office of National Statistics.

The ONS says that house prices in the UK finished last year at an average of £233,000 after starting 2012 at £229,000.

Average ‘mix-adjusted’ house prices in December 2012 stood at £242,000 in England, £158,000 in Wales, £130,000 in Northern Ireland and £179,000 in Scotland.

Within those figures there were huge regional variations, and excluding London and the South-East, the average UK mix-adjusted house price was £187,000.

While London house prices rose by 3.4% last year, and homes in the South-East by 3.7%, prices in Northern Ireland declined by 5.7%.

According to the ONS, secondhand houses cost more than new homes. The average UK house price for a new home in December 2012 was £226,000, lower than the average of £234,000 for a pre-owned home.  

The ONS statistics are calculated using mortgage transaction data and present a curious contrast to the Land Registry prices. For December, the Land Registry quoted the average price of a pre-owned home in England and Wales at £162,080, an annual rise of 1.7%.

The Land Registry describes its house price index as “the most accurate independent house price index available”.

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