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.