In the 12 months to April 2012 there was relatively little growth in house prices in the UK, with the index increasing by just 1.4% over the period, the latest data published today (Tuesday 19 June) by the Office of National Statistics shows.
year on year increase reflected growth of 1.7% in England, which was offset by declines in Wales, Scotland and Northern Ireland of 1.1%, 0.3% and 8.1% respectively.Annual house price increases in England were driven by a 4.9% rise in London, and increases in the South East and South West of 2.1% 1.6% respectively. The largest decreases in England of 1.3% were recorded in both the North West and in Yorkshire and Humber.On a seasonally adjusted basis, UK house prices increased by 1.1% between March and April 2012. The data also shows that the prices of new dwellings rose by 5.1% during the 12 months to April 2012, while the price of pre-owned dwellings increased by 1.1% in the same period.In April 2012, prices paid by first time buyers were 1.5% higher on average than in April 2011. For owner occupiers (existing owners) prices increased by 1.4% for the same period.The stamp duty holiday for first time buyers, announced in the Budget 2010, which exempted those buying their first home from stamp duty up to