House Price Index - Q2 2012

NAEA release the House Price Index for Q2 2012

The house price index for the second quarter of 2012 has been released by the National Association of Estate Agents (NAEA) with an update on how house prices are performing both on a national scale and a regional one.

Starting with the average house prices around the UK, the house price index places England with an average of £186,671, Scotland with an average of £136,182, Wales with an average price of £131,840 and Northern Ireland with an average of £110,422.

The UK average house price according to the house price index is £164,955 with an annual percentage change of -1.1% and a quarterly change of -1%. The least expensive area was Northern Ireland and the most expensive was of course London which reports an average house price of £302,399.

Average house prices in the South of England are now £96,000 more expensive on average than house prices in the North which a record gap between the two. The average house price in the North is 114,882, quite a way behind the national average of 186,671.

Liverpool was the city which showed the highest increase in property prices in this quarter's house price index with an increase of 10% over the last twelve months and Carlisle showed the biggest drop in house prices with figures revealing they dropped 13% in the same twelve month period.

Although Northern Ireland shows the lowest house prices, it shows the highest figures for the amount of young adults living with their parents and London showed the lowest numbers. The house price index report also states that there were almost three million young adults, those aged twenty to thirty four, still living at home in 2011.