Average House Prices


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House Prices UK

A check on UK average house prices by region indicates that 2012 was a fairly stable year when comparing property price figures. Researching the annual house prices there hasn’t been much change in the past 12 months. The below house prices from Halifax, shows that in every month in the past year prices have hardly dropped,  the difference between November 2012 and November 2011 is a few pounds!

So what does this say about the housing market in 2012 and and what can we expect in 2013. It appears that 2012 was a year of recovery with localised demand increasing average house prices. It also says that homeowners have come to the reality that they need to price their homes realistically to achieve a sale. Now that owners have mentally got to this realistic state I anticipate more movement in 2013.

Mortgages are still the key for increased activity and I am very encouraged by mortgage companies such as Nationwide that are now offering 5% deposit mortgages. I am sure other mortgage lenders will soon follow. Rents continue on the waty up as demand is outstrips supply. It will be cheaper to buy than rent with our low interest rates and this will help kick start many who felt resigned to staying put in rental property.

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2013 will see more activity , house prices rise in local areas but also remain realistic as the market starts to move again.

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House prices by region 

 

Region* Average price
London £301,168
Outer South East £200,276
North £116,624
West Midlands £146,346
Outer Metropolitan £247,386
South West £186,366
East Midlands £138,977
East Anglia £164,528
Yorks & Humberside £134,633
North West £134,076
Scotland £132,273
Wales £132,385
Northern Ireland £107,719
Average £163,910

*Nationwide

Yearly house price change

 

Month* Annual change Average price
Nov 11 -1.0 160,894
Dec 11 -1.3 159,888
Jan 12 -1.8 160,925
Feb 12 -1.9 160,328
Mar 12 -0.6 163,796
Apr 12 -0.5 160,073
May 12 -0.1 160,781
Jun 12 -0.5 162,104
Jul 12 -0.6 160,961
Aug 12 -0.9 160,142
Sep 12 -1.2 159,467
Oct 12 -1.7 159,313
Nov 12 -1.3 160,879

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