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House Price Index, November 2012

The latest House Price Index produced by the Office for National Statistics (ONS) was released on 15 January 2013, according to the arrangements approved by the UK Statistics Authority.

Statistics on Average House Prices and Annual House Price Inflation include data for the United Kingdom and its government regions for the period November 2012. The latest release updates the statistics previously released on 18 December 2012.

The ONS House Price Index (HPI), previously published by the Department for Communities and Local Government (DCLG), is calculated using mortgage financed transactions that are collected via the Regulated Mortgage Survey by the Council of Mortgage Lenders (CML) and covering the majority of mortgage lenders in the UK. It provides comprehensive information on the change in house prices on a monthly and annual basis across the different regions of the UK (including Wales). The data are not seasonally adjusted, unless otherwise stated, so month-on-month comparisons should be treated with caution.

The key points from the latest release are:

  • over the year to November 2012, the HPI in Wales increased by 0.8 per cent compared with October 2012 which had shown a 2.8 per cent increase over the 12 months
  • across the UK as a whole, the HPI increased by 2.1 per cent over the year to November 2012 compared with an annual increase to October of 1.5 per cent
  • comparing November 2012 with October 2012 (not seasonally adjusted), average house prices decreased in Wales but increased across the UK as a whole
  • the average house price* in Wales in November was £156,687, the third lowest figure amongst the regions of the UK (higher only than Northern Ireland and the North East)
  • the average house price* in the UK in November 2012 was £231,773, whilst the UK figure, excluding London and the South East, was £186,493

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

Office for National Statistics website: House Price Index, November 2012 (external link)

Contact

Tel: 029 2082 3757
E-mail: stats.housing@wales.gsi.gov.uk

Next update

13 February 2013