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House price inflation up in April, says DCLG

Annual house price inflation rose in April to 11.3% from 10.9% in March, statistics from the Department for Communities and Local Government reveal.

Annual house price inflation in London was 14% in April, up from 13.9 % in March.

Between March and April there was a rise of 1.2% in the prices index of properties bought compared with a smaller rise of 0.8% over the same period last year resulting in an increase in the inflation rate.

The DCLG says the rise in UK prices between March and April can be attributed to increases in average prices for bungalows (1.9%), terraced houses (1.7%), semi-detached dwellings (1.4%), detached properties (0.8%) and flats (0.7%).

Wales saw a decrease in inflation in April 2007, from 9.7% in March to 9% in April.

England, Scotland and Northern Ireland all saw house price inflation increases.

In England annual house price inflation rose from 9.8% in March to 10% in April, in Scotland there was a rise in the rate from 14.8% in March to 17.8% in April and in Northern Ireland annual house price inflation in April was 54.1% compared with 50.1% in March.

House price inflation rose in five of the English regions, remained level in two regions and fell in two regions.

The highest inflation rate was in London (14%) followed by South East (10.6%), South West (10.0%) Inflation rates were lower in the East (8.6%), Yorkshire and the Humber (8.2 per cent) and the East Midlands (8.1%). The lowest inflation rates were in the North East and North West (both 7.9%) and the West Midlands (7.1%).

Mix-adjusted average house prices in April were 216,707 in England, 162,170 in Wales, 155,516 in Scotland and 228,208 in Northern Ireland.

The English region with the highest average house price in March remains London at 320,191. The lowest average price was in the North East at 145,875.

Of the English regions, only the East, London, South East and the South West had average prices above the UK average.

The UK house price inflation rate for first-time buyers rose from 10.8% in March to 11.2% in April.

There was a rise of 1.3% in the prices index between March and April in the properties bought by first-time buyers compared with a smaller rise of 1% over the same period last year.

The inflation rate for former owner occupiers rose from 10.9% in March to 11.3% in April.

There was a rise of 1.2% in the prices index between March and April in the properties bought by former owner occupiers, compared with a smaller rise of 0.8% over the same period last year.

The average price paid by first-time buyers across the whole of the UK was 159,977 in April, while the average price paid by former owner occupiers was 233,726.


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