Industry News

UK house price keeps on accelerating, ONS reports

UK house prices keep on growing with a 9.6% boost at the end of March, the Office of National Statistics (ONS) reports. The general flatness of consumer prices seems not to affect the housing market where the annual rate of increase accelerated again from 7.4% of February 2015. 

According to the ONS, the prices rise is partly due to the boost of house price inflation in Scotland (+14.6%). Significantly annual property price increases in the East of England (11.4%), London (11.2%) and the South East of England (11.2%). 

The ONS figures show that the cost of the average UK home in March was £273,000, ranging from £498,000 in London to £145,000 in Northern Ireland. Buyers incurred 61,300 home loans in the first three months of 2015.