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House prices up 3.3% in July

House prices up 3.3% in July

Category: Mortgages

Updated: 18/09/2013
First Published: 18/09/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The price of the average home in the UK rose by 3.3% to £245,000 in the 12 months to July, according to the latest official statistics.

This was up from 3.1% in the 12 months to June, and month-on-month revealed an increase of 0.3%.

The Office for National Statistics' House Price Index also showed that the price of the average first-time buyer home is now 4% higher when compared to July 2012, while those for owner-occupiers rose 3%.

By country the results were mixed, with England and Northern Ireland recording house price growth of 3.7% and 1.8% respectively, while prices fell in Scotland and Wales, by 2% and 0.7% respectively.

London continued to drive the UK's growth, with prices in the capital up 9.7%.

Excluding London and the South East, UK house prices rose by 0.8%.

What next?

Read more about fears of a house price bubble - Govt urged to limit house price boom

First time on the property ladder? compare the best available first time buyer mortgages

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