House Price Index, January 2011

Statistics on Average House Prices and Annual House Price Inflation include data for the United Kingdom and its Government Office Regions for the period January 2011. The latest release updates the statistics previously released on 15th February 2011.

The House Price Index (HPI) is calculated by the Department for Communities and Local Government, as a monthly series of changes in house prices since February 2002 across the different regions of the UK (including Wales).  The data are experimental and are not currently seasonally adjusted - month-on-month comparisons should therefore be treated with caution.

The key points from the latest release are:

• Over the year to January 2011, the HPI in Wales decreased by 1.8 per cent, compared with an annual increase to December 2010 of 4.3 per cent.
• Across the UK as a whole, the HPI increased by 0.5 per cent over the year to January 2011, compared with an annual increase to December 2010 of 3.8 per cent.
• Comparing January 2011 with December 2010 (not seasonally adjusted), annual house prices decreased in Wales, but increased slightly across the UK as a whole.
• The average house price* in Wales in January 2011 was £145,744, the third lowest figure amongst the regions of the UK (higher only than the North East, and Yorkshire and Humberside).
• The average house price* in the UK in January 2011 was £208,552, whilst the UK figure, excluding London and the South East, was £172,468.

Notes:
*Mix-adjusted house prices which take account of the different mix of properties sold in the period in question and are thus unaffected by varying sales of particular property types in one period when compared to another.

Further information

Communities and Local Government website: House Price Index, January 2011

Contact

Tel: 029 2082 3295
E-mail: stats.housing@wales.gsi.gov.uk

Next update

April 2011 (provisional - to be confirmed on the 'Due Out Soon' page)