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ONS: House prices rise 2.3%
HAMISH_MCTAVISH
Posts: 28,592 Forumite
The Office for National Statistics has released its house price index for May 2012 which shows that in the last 12 months the average price of a UK house has increased by 2.3 per cent.
This follows the pattern of the last 12 months in continuing the trend of relatively stable house prices in the UK. On a seasonally adjusted basis, house prices were unchanged between April and May.
There are variations between the four countries that make up the UK. England and Wales have seen rises of 2.6 and 3.5 per cent respectively, whilst Scotland has seen a fall in average house prices of one per cent in Scotland and 10.3 per cent in Northern Ireland.
Within England there are also regional variations within the seven regions with five posting rises and two showing falls. Unsurprisingly, London showed the highest increases with prices rising by 7.2 per cent. There were also increases of 3.4 per cent in the south-east and 2.3 per cent in the East Midlands. The largest decreases were in the north-west at 1.6 per cent and 1.2 per cent in the West Midlands.
http://www.myfinances.co.uk/mortgages/2012/07/17/ons-uk-house-price-index-shows-2-3-rise-in-last-12-months
:beer:
This follows the pattern of the last 12 months in continuing the trend of relatively stable house prices in the UK. On a seasonally adjusted basis, house prices were unchanged between April and May.
There are variations between the four countries that make up the UK. England and Wales have seen rises of 2.6 and 3.5 per cent respectively, whilst Scotland has seen a fall in average house prices of one per cent in Scotland and 10.3 per cent in Northern Ireland.
Within England there are also regional variations within the seven regions with five posting rises and two showing falls. Unsurprisingly, London showed the highest increases with prices rising by 7.2 per cent. There were also increases of 3.4 per cent in the south-east and 2.3 per cent in the East Midlands. The largest decreases were in the north-west at 1.6 per cent and 1.2 per cent in the West Midlands.
http://www.myfinances.co.uk/mortgages/2012/07/17/ons-uk-house-price-index-shows-2-3-rise-in-last-12-months
:beer:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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Northern Ireland massively skewing down the national average with a 10% fall, and prices rose in 5 out of 7 English regions.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Northern Ireland massively skewing down the national average with a 10% fall, and prices rose in 5 out of 7 English regions.
Northern Ireland has less than 2 million people, call it 3% of the UK. So a 10% fall in NI translates into about a 0.3% UK fall. That ain't "massive".FACT.0 -
What's the :beer: for Hamish ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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What's the :beer: for Hamish ?
A good solid year on year rise in house prices.
Excellent news for both homeowners and the wider economy.
:beer:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »The Office for National Statistics has released its house price index for May 2012 which shows that in the last 12 months the average price of a UK house has increased by 2.3 per cent.
That's less than CPI :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
How much of that was london property?
7.2% must learn to read properly0 -
HAMISH_MCTAVISH wrote: »But more than wage inflation. :eek:
Is it materially more than wage inflation? Pretty sure wage inflation is running at 2% or thereabouts. Plus if you want to talk about NI skewing the average down, isn't London creating a far more significant upwards skew?0 -
chewmylegoff wrote: »Is it materially more than wage inflation? Pretty sure wage inflation is running at 2% or thereabouts. Plus if you want to talk about NI skewing the average down, isn't London creating a far more significant upwards skew?
Yes exactly. London is far more likely to skew the figures than anywhere else.0 -
http://www.guardian.co.uk/money/2012/jul/17/may-house-prices-london-south-east?newsfeed=true
"May house prices propped up by London"0
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