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| London drives house price increase, says ONS | |
| (35 minutes later) | |
| Annual house price inflation was 10.2% in June, compared with 10.4% in May, according to the Office for National Statistics (ONS). | Annual house price inflation was 10.2% in June, compared with 10.4% in May, according to the Office for National Statistics (ONS). |
| The rise was again driven mainly by London, where house prices increased by 19.3% over the year, a slight drop from the previous month's figure. | The rise was again driven mainly by London, where house prices increased by 19.3% over the year, a slight drop from the previous month's figure. |
| Excluding London and the South East, prices rose by 6.3% across the UK. | Excluding London and the South East, prices rose by 6.3% across the UK. |
| Prices were up in every region, including Northern Ireland, where they rose by 4.9%. | Prices were up in every region, including Northern Ireland, where they rose by 4.9%. |
| "House prices are increasing strongly across most parts of the UK, with prices in London again showing the highest growth," said the ONS. | "House prices are increasing strongly across most parts of the UK, with prices in London again showing the highest growth," said the ONS. |
| The average house price in London is now almost half a million pounds, at £499,000, compared with the national average of £265,000. | The average house price in London is now almost half a million pounds, at £499,000, compared with the national average of £265,000. |
| In the UK as a whole, prices paid by first-time buyers in June 2014 were 12% higher on average than in June 2013. | In the UK as a whole, prices paid by first-time buyers in June 2014 were 12% higher on average than in June 2013. |
| Housing charity Shelter said that many people risk being priced out of the market. | Housing charity Shelter said that many people risk being priced out of the market. |
| "No matter how hard people work or save, millions are being priced out of a home of their own, caught in the 'rent trap' and constantly moving from one expensive property to the next," said Campbell Robb, Shelter's chief executive. | "No matter how hard people work or save, millions are being priced out of a home of their own, caught in the 'rent trap' and constantly moving from one expensive property to the next," said Campbell Robb, Shelter's chief executive. |
| "The only solution is for politicians to roll up their sleeves and build the affordable homes we so desperately need." | "The only solution is for politicians to roll up their sleeves and build the affordable homes we so desperately need." |
| However, online estate agents Housesimple.co.uk said that prices in many parts of the country had not recovered to pre-recession levels. | However, online estate agents Housesimple.co.uk said that prices in many parts of the country had not recovered to pre-recession levels. |
| "Local housing markets remain extremely fragile," said Housesimple.co.uk managing director Alex Gosling. | "Local housing markets remain extremely fragile," said Housesimple.co.uk managing director Alex Gosling. |