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Assetz® Property News Service
UK property market outlook mixed, index shows
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Sharp differences between regional price changes in the UK property market have been highlighted by the Office for National Statistics (ONS).
Overall property prices went up 1.4% but there was a dramatic contrast between the biggest average increase of nearly 5% in London and the biggest decline in Northern Ireland of 8.1% in the last financial year.
The new data from the ONS's house price index, compiled monthly, showed slight gains in the South East and South West but decreases of 1.3% in Yorkshire and Humber, and the North West - the biggest declines in England.
The north-south divide in England was accompanied by decreases in both Scotland and Wales, down 0.3% and 1.1% respectively.
The average price of a home in England was £237,000 in April, compared to £178,000 in Scotland, £151,000 in Wales and £129,000 in Northern Ireland.
The cheapest houses in England sell in the North East for £145,000 while a house in the capital costs £388,000 on average.
After a drop the previous month, seasonally adjusted UK property prices rose 1.1% between March and April.
New dwellings increased 5.1% for the year, while pre-owned homes were up 1.1%.
Copyright Press Association 2012
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