This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/business/news/uk-house-price-growth-annual-october-ons-housing-market-home-a8105051.html
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| UK house price growth slows in October | UK house price growth slows in October |
| (35 minutes later) | |
| Annual house price growth slowed in October, according to official figures. | Annual house price growth slowed in October, according to official figures. |
| Data from the Office for National Statistics released on Tuesday shows that average house prices in the UK rose by 4.5 per cent in the year to October - down from 4.8 per cent in the year to September. | Data from the Office for National Statistics released on Tuesday shows that average house prices in the UK rose by 4.5 per cent in the year to October - down from 4.8 per cent in the year to September. |
| The average UK house price was £224,000 in October, £10,000 higher than a year earlier. | The average UK house price was £224,000 in October, £10,000 higher than a year earlier. |
| On a monthly basis, prices fell by 0.5 per cent. | |
| Prices in England went up by 4.7 per cent over the year, compared to 4.5 per cent in Wales, 2.8 per cent in Scotland and 6 per cent Northern Ireland. | |
| The East Midlands enjoyed the strongest rate of growth with prices going by 7.0 per cent over the year to £185,000. | |
| This was followed by the South West at 6.7 per cent and the East of England at 6.1 per cent. The lowest annual growth was in London, where prices increased by 2.1 per cent over the year, followed by the North East at 2.4 per cent. | |
| “The limited supply of housing in the UK is continuing to push up house prices, particularly outside London. While this is good news for current homeowners, it’s less so for first-time buyers struggling to save for a deposit,” said Ishaan Malhi, chief executive of online mortgage broker Trussle. | |
| “House prices are now estimated to be over seven times the average annual salary, which is a huge sum of money for those looking to get onto the property ladder,” he added. |