ONS House Price Index Feb 2016
The Office for National Statistics (ONS) released today the house price index February 2016. Monthly output based on mortgage completions data from the Regulated Mortgage Survey.
UK house prices increased by 7.6% in the year to February 2016, down from 7.9% in the year to January 2016. House price annual inflation was 8.2% in England, 2.8% in Wales, -0.8% in Scotland and 2.4% in Northern Ireland.
Annual house price increases in England were driven by an annual increase in the South East (11.4%), the East (10.3%) and London (9.7%). Excluding London and the South East, UK house prices increased by 5.0% in the 12 months to February 2016.
On a seasonally adjusted basis, average house prices increased by 0.4% between January 2016 and February 2016.
In February 2016, prices paid by first-time buyers were 8.0% higher on average than in February 2015. For owner-occupiers (existing owners), prices increased by 7.4% for the same period.
UK average mix-adjusted house price in February 2016 was £284,000.
To read the ONS Statistical Bulletin in full click here