Average house price hits £250,000
The average price of a property in the UK hit £250,000 for the first-time at the end of 2013, according to figures from the Office for National Statistics (ONS).
UK house prices increased by 5.5% in December 2013 compared with a year earlier, up from 5.4% in November 2013. Excluding London and the South East, UK house prices increased by 3.1% in the 12 months to December 2013.
Data from the ONS also shows that during December prices paid by first-time buyers were 7.4% higher on average than in December 2012. For owner-occupiers (existing owners), prices increased by 4.7% for the same period.
February 21, 2014
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