MoneySavingExpert.com homepage
Cutting your costs, fighting your corner
Founder, Martin Lewis · Editor-in-Chief, Marcus Herbert
Search bar closed.
MSE News

House prices up at fastest rate in three years

houses_row
Press Association
Press Association
Editor
28 June 2013

House prices have recorded their fastest increase in almost three years, Nationwide has reported.

The annual increase of 1.9% registered in June pushed average UK prices to £168,941, up from last year's £165,738 average. This marks the largest year-on-year uplift since September 2010.

On a month-on-month basis, house prices rose by 0.3% in June, compared with a 0.4% rise recorded in May.

The building society says Government efforts to kickstart the market, as well as a lack of available homes to choose from, are pushing house prices up.

However, there are big regional divides. Average prices in London have hit an all-time high of £318,214, 5% above their previous peak in 2007. But across the UK as a whole, prices are 9% lower.

Prices in England are currently 5% lower than those seen in 2007, while they are 13% and 12% lower in Wales and Scotland respectively.

In Northern Ireland, prices are 53% down on their 2007 levels.

MSE Forum

House prices up

Forum image
Tools and calculators

Clever ways to calculate your finances

Find your odds of getting top cards
Find your odds for getting a cheap loan
Compare broadband, phone & TV deals
Compares thousands of mortgages
Eight calcs to help you work out the cost
We ensure you’re on the cheapest tariff