ONS House Price Statistics October 2012

Oct 16, 2012

The Office for National Statistics  has published its latest house price index today.

It’s August figures show a rise of just 0.1% over July. Annually, it says, values are up 1.8%.

However this as ever masks a regional variation with England on the up to the extent of 2.1%, largely assisted by a London tail wind; 1.4% in Wales, 0.5% in Scotland but a significant decline in Northern Ireland prices of 12.8% since August 2011.

Interestingly, first time buyers are paying  2.9% more for their home than a year ago whilst the remainder of the market has only had to stump up 1.4% more.

For the record, this index is likely to be contradicted by the next measure as indeed this one flies in the face of Rightmove’s asking price index this week showing a hike of 3.5%. Note the asking price bit in italics.

‘Asking’ and ‘getting’ being two very, very different things currently.

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