Today, 24 March 2015, the Office for National Statistics released the House Price Index for Janua...
Today, 24 March 2015, the Office for National Statistics released the House Price Index for January 2015.
The headline figures concerning house prices in the UK were:
- Annual increase of 8.4% to Jan 2015.
- Compares to annual increase of 9.8% to Dec 2014.
- England saw an annual increase of 8.5% to Jan 15.
- Seasonally adjusted decrease of 0.2% from Dec 14 to Jan 15.
A break-down of prices paid by type of purchaser shows that First Time Buyers (FTBs) paid 9.7% more in Jan 15 than one year earlier whereas the increase for existing owners in the same period was 7.8%.
So how has Newbury done compared to the UK and England markets as a whole?
Price paid data from the Land Registry (downloaded as at 1000hrs on 24 Mar 15) gives us the following:
- Jan 14 saw 74 properties sold, for an average £298,078
- Jan 15 saw 28 properties sold, for an average £324,875
- Annual increase of 26,797 = 8.9%
We can therefore state that house prices in Newbury are outperforming the UK and England overall.