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House prices up slightly in June

House prices up slightly in June

Category: Mortgages

Updated: 16/08/2011
First Published: 16/08/2011

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House prices increased slightly in June, although values in the UK have fallen over the last 12 months.

Figures from the Department for Communities and Local Government (DCLG) show that prices increased by 0.6% in June compared with May.

However, over the 12 months to June, prices in the UK fell by 2%, taking the average price to £204,981.

There were large scale differences between countries in the UK .

The heaviest falls over the last 12 months were seen in Northern Ireland , where the average house price fell by 8.1%, while in Wales and Scotland the average house price fell by 5.6% and 2.3% respectively.

England was the country with the smallest annual decline, with the average price down by 1.8% in the year to June.

And, unsurprisingly, the capital bucked the UK wide trend, as prices in London rose by 1.5% over the 12 months.

London also saw a 1.6% month-on-month rise in June, as seven of the nine English regions saw monthly upturns, with only the Humber and the North West falling.

Buyers looking to invest in bricks and mortar in the capital can expect to part with a princely £340,664 to do so.

In the UK as a whole, the average price for properties bought by first time buyers decreased by 2.2% to £151,563 over the year to June.

Properties purchased by former owner occupiers also decreased over the year, by 2% to £237,912.

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