The average property price stood at £253,000 in the UK during February, up 9.1% from the year before, the Office for National Statistics has claimed.
The figure is far higher than the Land Registry figure for the same month of £170,000 in England and Wales.
The ONS figure is apparently worked out from mortgage lending information, yet is also much higher than both Halifax and Nationwide, which are currently quoting £179,249 and £180,264.
The ONS data shows that UK house prices are driven by the markets in London and the south-east. Even so, its figure once both those regions are taken out is £196,000 – an annual rise of 5.8%.
According to the ONS, house prices in February stood at £264,000 in England, £167,000 in Wales, £130,000 in Northern Ireland and £183,000 in Scotland.
In London the average house price was £458,000, while the north-east had the lowest average house price at £146,000.
London’s house price inflation was 17.7%, according to the ONS.
*Property site Home says asking prices are now rising faster than at any time during the last boom, with London asking prices up nearly 19% on a year ago.
The site says that supply of properties for sale is down 12% year on year, and down 48% since March 2008. Time on market has fallen 34 days from last April to 96 days.
It puts average asking prices across the UK at £256,976.
Comments (14)
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Ho-hum… eight days without further comment – Mr RR is on his usual form of throwing a lit firework into the room then running away because he doesn't like the sound when it backfires on him!
Pity really.
What you see is nothing like what I'm seeing but what's new about that Mr Troll?
You obviously mostly like 'monstering' anyone with game-changing ideas!
The type of language and your thinking has no part in modern free-debating society.
You should realise it's normal for people like you not to support changes of most kinds whilst they are being contemplated, especially if they don't know a lot about it.
The age old estate agency systems which we have had in place and relied upon for a good number of years, are simply not working anymore.
But, little troll, you don't have to take this from me alone, ask Russell Quirk for his opinion, if you happen to have heard of him that is.
"You should realise it's normal for people like you…"
And just WHAT do you know about "people like me", Mr RR?
I would suggest the answer is about as much as you "know" about the housing market. Diddly squat, to be precise.
"…especially if they don't know a lot about it."
And that would be ME, would it? Simply because I don't subscribe to YOUR thinking; because I don't bow to your self-believed superior understanding, then I understand nothing about the subject matter.
Well, Mr RR – I am pretty relaxed about my apparent lack of understanding. I am perfectly at one with my ignorance,
And, for that I am grateful.
Interesting that you bring Mr Quirk into your argument., As far as I can determine, the only commonality that you share is your passion for slagging off Estate Agents when you both profess to have been one yourself.
Sad, really. Very, very sad.
PeeBee: Mr 'empty' of ideas, anonymous commentator, is now beginning to poison this source of inspiration.
OI, pal – I was here "poisoning this source of inspiration" on 'day 1' – where were YOU then?
Not wanting to answer any of my questions? They are VERY relevant.
But, of course – you NEVER answer ANYONE'S questions… do you?
You'll huff, and you'll puff – and then you'll scuttle away YET AGAIN until you have a new woeful blogpost to promulgate in the most efficient way you know – riding on the back of someone else.
See – Mr RR, it's like I say. Some things NEVER change.
I HAVE read your woeful bog, Mr RR. MANY times.
Who the chuff else do you think actually reads it?
…and mores to the point –
1. WHAT are you trying to draw my attention to that is ANY different from the MDT you have ******* out for the last several years?
2. WHY do you think that it would make a slightest difference to my stance over your MDT?
3. WHY are you calling it "the latest thinking for the future of estate agency"? Do you change your mind often in that respect? If so:
3a. WHEN is the next change due?
3b. WHY should I be so interested in the LATEST thinking?
3c. WHAT IF the PREVIOUS thinking was better?
3d. WHAT IF I want to wait for the FORTHCOMING thinking? It might be better.
Okay – scratch 3d. That was a ridiculous statement. NONE of your "thinkings" have ever been either 'thought out' OR workable in the slightest – so why would the next… or the one after that… be any different from all those that precede.
Before you 'jump' to your usual laissez-faire conclusions PeeBee (the anonymous), you'd better read my blog because it sets out the latest thinking for the future of estate agency, as we currently know it.
Ahhh… so glad you cut and pasted your poisonous, petty MDT here as well as over on the other "news" site.
(You may wish to note, RR, that I no longer post there – so if you want a quiet life you know where your idiotic rantlets will receive none of my attention and you can feel good having gotten them off your sunken chest.)
BUT… seeing as you have posted, it would be rude not to comment.
C
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of the highest, most distasteful order. YOU know it. I know it. We ALL know it.
Blame who the chuff you want. In that respect, you are guest of honour at a party for one.
Just don't choke on the sausage roll – there will be no-one there to pat your back.
I blame the agents, for badly misreading housing market dynamics and then gaining easy support by advising the all too hopeful vendors.