May House Price Index data released by ONS

  • In the 12 months to May 2013 UK house prices increased by 2.9%, up from a 2.6% increase in the 12 months to April 2013.
  • House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average.
  • The year-on-year increase reflected growth of 3.1% in England, 0.8% in Scotland, 0.6% in Wales and 1.9% in Northern Ireland.
  • May 2013 is the first month that Northern Ireland house prices have grown year-on-year since February 2008.
  • Annual house price increases in England were driven by a 6.6% rise in London and a 2.7% increase in both the North West and the West Midlands.
  • Excluding London and the South East, UK house prices increased by 1.9% in the 12 months to May 2013.
  • On a seasonally adjusted basis, UK house prices increased by 0.3% between April and May 2013.
  • In May 2013, prices paid by first-time buyers were 4.1% higher on average than in May 2012. For owner-occupiers (existing owners) prices increased by 2.5% for the same period.