Department for Communities & Local Government (DCLG) - Statistical Release
The mix-adjusted average house price in the UK in March 2006 stood at £186,519, up from £182,925 in February 2006 (not seasonally adjusted). UK annual house price inflation in March 2006 was 3.3 per cent, down from 3.4 per cent in February 2006. Annual house price inflation in London was 4.0 per cent in March 2006, up from 1.5 per cent in February 2006. The UK annual house price inflation rate for the 3 months to March 2006 was 3.6 per cent, and 3.5 per cent in London.
HOUSE PRICE INFLATION: REGIONAL
The UK house price inflation rate fell from 3.4 per cent in February 2006 to 3.3 per cent in March 2006. Prices rose by 2.0 per cent between February and March, compared to a rise of 2.1 per cent seen over the same period last year. The rise in UK prices between February and March can be attributed to rises in average prices for all property types, in particular for flats (7.7 per cent, after a fall of 4.8 per cent last month), terraced houses (1.7 per cent) and semi-detached houses (1.0 per cent). All the home countries saw a fall in inflation in March. The inflation rate in England fell from 2.6 per cent in February to 2.5 per cent in March, the inflation rate in Wales fell from 6.1 per cent to 5.3 per cent, in Scotland the rate fell from 11.3 per cent to 10.8 per cent and in Northern Ireland the rate rose from 15.9 per cent to 14.1 per cent.
HOUSE PRICES: REGIONAL
Mix-adjusted average house prices in March were £195,001 in England, £148,718 in Wales, £132,271 in Scotland and £141,502 in Northern Ireland. The English region with the highest average house price in March remains London at £274,113. The lowest average price was in the North East at £135,125. Only the East, London, South East and the South West had average prices above the UK average.
HOUSE PRICE INFLATION: TYPE OF BUYER
The UK house price inflation rate for first time buyers rose from 4.2 per cent in February to 4.6 per cent in March. This was due to a rise of 2.8 per cent in prices between February and March in the properties bought by first time buyers compared with and a smaller rise of 2.5 per cent over the same period last year. The inflation rate for former owner occupiers fell from 3.2 per cent in February to 2.8 per cent in March. This was due to a rise of 1.7 per cent in prices between February and March in the properties bought by former owner occupiers, compared with a larger rise of 2.0 per cent over the same period last year. The average price paid by first time buyers across the whole of the UK was £145,214 in March, while the average price paid by former owner occupiers was £204,137.
