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House prices grow annually

House prices grow annually

Category: Mortgages

Updated: 14/08/2012
First Published: 14/08/2012

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House prices rose by 2.3% between June 2011 and 2012, as the UK housing market remained reasonably stable.

House prices grew year-on-year in England by 2.8%, although this was offset by falls of 1.0% and 11.9% in Scotland and Northern Ireland respectively.

London experienced the largest increase in annual house prices with a rise of 6.5%, whilst the South West also saw growth of 2.3%.

The annual figures, released by the Office for National Statistics paint a different picture to those of the Royal Institution of Chartered Surveyors, which anticipates a downturn in house prices over the next few months, with nearly a quarter of surveyors reporting lower prices last month.

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