UK house prices rise 6.1% in year
By |Published On: 17th November 2015|

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UK house prices rise 6.1% in year

By |Published On: 17th November 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Property prices increased by 6.1% in the twelve months to September 2015, according to the latest data released by the Office for National Statistics.

This represented a rise from the 5.5% recorded in August and 5.2% in July, bringing the average house price in the UK to £286,000.


However, this is still much slower than one year ago, when prices were rising by in excess of 12%. What’s more, the results differ from those revealed in a recent survey from the Halifax and the Nationwide respectively, with these surveys indicating prices rose by just 8.6% and 3.8% respectively.[1]

The Office for National Statistics figures indicate that prices rose mostly in Northern Ireland (10.2%) and the East of England (8.4%).

By region, house prices were found to have risen by the following amounts over the course of the year:

Regional House Prices
Region Annual % change Average house price
UK 6.1% £286,000
England 6.4% £299,000
Wales 1.1% £175,000
Scotland 1.1% £199,000
Northern Ireland 10.2% £162,000
North East England 1.8% £158,000
North West 4.2% £184,000
Yorks and Humber 4.6% £186,000
East Midlands 3.6% £196,000
West Midlands 4.5% £207,000
East 8.4% £309,000
London 7.2% £531,000
South East 7.4% £359,000
South West 6% £263,000


UK house prices rise 6.1% in year

UK house prices rise 6.1% in year

Uncertain future

John Hawksworth, chief economist of PricewaterhouseCoopers, noted that house price inflation is now running at twice the pace of average earnings. He said, ‘the ongoing rise in house prices reinforces our projections that, by 2025, only around a quarter of 20-39 year olds in England may be owner occupiers, compared to around three quarters of over-55 year olds.’[1]

In addition, former chairman of RICS, Jeremy Leaf, believes that the housing market is in the process of re-energising itself. Leaf commented that, ‘with the average property price in London now £531,000, unless you earn way above the national average salary, you have precious little hope of being in a position to buy.’[1]

‘Generation Rent is being left out in the cold: they have aspirations to buy but are being pushed further away from their goal,’ he added.[1]



About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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