StockMarketWire.com - The latest UK house price index statistics produced by the Department for Communities and Local Government were released today.
The latest statistics release includes data based on mortgage completions during the month of August 2011.
The key points from the release are:
In August UK house prices decreased by 1.3 per cent over the year and increased by 0.6 per cent over the month (seasonally adjusted). The average mix-adjusted UK house price was £208,476 (not seasonally adjusted).
Average house prices remain unchanged over the quarter to August, compared to a quarterly decrease of 0.2 per cent over from the quarter to May (seasonally adjusted).
Average prices decreased during the year in all UK countries; England (-1.2 per cent), Wales (-0.3 per cent), Scotland (-1.5 per cent) and Northern Ireland (-4.3 per cent).
Prices paid by first time buyers were 1.8 per cent lower on average than a year earlier and prices paid by former owner occupiers also decreased by 1.1 per cent.
Prices for new properties were 9.2 per cent higher on average than a year earlier whilst prices for pre-owned dwellings decreased by 2 per cent.
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