London sees largest house price increase

12:51 12 February 2013

The figures were released by the Office for National Statistics. Picture: PA Wire

The figures were released by the Office for National Statistics. Picture: PA Wire

PA Wire/Press Association Images

London recorded the largest increase in house prices in the country at the end of last year.

The 6.4 per cent rise put the average cost of a house at £398,000 in December, above the national average and far in excess of the values seen in Scotland and Northern Ireland.

The 3.4 per cent national average house price appears to have been driven by the capital and the south east, which saw the next largest price rise - at 3.7 per cent.

Northern Ireland and the north east of England were the only regions to record house price falls, the Office for National Statistics figures showed.

It comes after Savills estate agents published analysis which showed how the value of London’s housing stock increased by 6.8 per cent to £1.12trillion in 2012.

It meant the cost of houses in 10 London boroughs amounted to more than that in Scotland, Wales and Northern Ireland.

Related articles

Latest Stories

Police have issued CCTV pictures of the suspect in the attack, which left a bus driver with a 3cm puncture wound to his eye (Picture: Metropolitan Police)

A bus driver was stabbed in the eye with a Stanley knife after a passenger ran in front of his vehicle in south London.

Read more
Ruislip was hit with torrential rain overnight leaving the town centre badly flooded this morning (Picture: Twitter/@souvikdash)

The Monday morning commute is not exactly most people’s idea of a good time but it was made a lot worse for those in west London this morning after flash flooding.

Read more
This Vauxhall Corsa flipped over and landed on its roof this morning in Lambeth. Shocked Twitter users captured the scene [Photo courtesy of @k111777]

A car has flipped over dramatically on Brixton Road, Lambeth.

Read more

Quirky London

Quizzes

How much do you really know about QPR legends like Les Ferdinand? Picture: Neal Simpson/EMPICS Sport

Test your knowledge of QPR’s greatest players with our fantastic legends quiz.

Read more
Quiz-1

Do you know your Lock Stock from your Long Good Friday, Sliding Doors from Shakespeare in Love?

Read more
How much about this great city do you really know? Take our true Londoner quiz and find out (Photo by Matt Cardy/Getty Images)

Do you know your apples from your pears? Take our Cockney quiz and see how much of a Londoner you really are.

Read more