Average UK house prices up – to £284,000

Average UK house prices up – to £284,000

This is the rise in the price of the average UK house in the year to February 2016.

The increase compared with a 7.9 per cent rise in January’s annual figure, according to the latest Office for National Statistics’ house price index.

House price annual inflation was 8.2 per cent in England, 2.8 per cent in Wales, 2.4 per cent in Northern Ireland and -0.8 per cent in Scotland. The average house price was £284,000 across the UK.

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On a seasonally adjusted basis, average house prices increased by 0.4 per cent between January and February, with prices paid by first-time buyers in February coming in 8 per cent higher on average than in the same month last year.