HOUSE PRICES SHOW 2.7 PERCENT INCREASE ACROSS NORTH WEST

Figures released today by the Office of National Statistics show that in the 12 months to May 2013 UK house prices increased by 2.9%, up from a 2.6% increase in the 12 months to April 2013.  and compared to just 1.9% excluding London and the South East.

While annual house price increases in England were driven by a 6.6% rise in London they were also bouyed by a 2.7% increase in both the North West and the West Midlands, compared to just 1.9% in the UK excluding London and the South East.

The latest RICS Residential Market Survey  also showed that the UK’s housing market continued to show signs of recovery during June, with rising house prices and increased demand, says the report published on 9 July 2013.

           21% more chartered surveyors reported prices rose rather than
           fell in June, making this the strongest month for house prices since
           January 2010. The outlook for future prices is also strong with 23%            more respondents reporting that prices will rise rather than fall
           over the coming three months.

           House price growth remains stable across most of the UK,
           although prices in London are increasing faster than the UK
           average. The year-on-year increase reflected growth of 3.1% in

           England, 0.8% in Scotland, 0.6% in Wales and 1.9% in N.I.
On a seasonally adjusted basis, UK house prices increased by 0.3% between April and May 2013.
In May 2013, prices paid by first-time buyers were 4.1% higher on average than in May 2012. For owner-occupiers (existing owners) prices increased by 2.5% for the same period.