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.
