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

12:44
American journalist James Foley while covering the civil war in Aleppo, Syria (AP Photo/freejamesfoley.org, Nicole Tung, File)

The SAS is closing in on the man known as ‘John’, suspected of being from London, who brutally executed US journalist James Foley.

Read more
Ishak Ayiris is set to study at Eton College.  Photograph by Lucy Ray

A schoolboy who secured top marks in his GCSEs is set to follow in the footsteps of David Cameron and Boris Johnson after winning a scholarship to Eton worth £76,000.

Read more
18:49
The student was caught trying to board a flight at Stansted Airport with eight flares in his luggage (Photo by Claudio Villa/Getty Images)

A student from north London was caught trying to board a plane at Stansted Airport with eight explosive flares and a terrorist manual.

Read more

Quirky London

Quizzes

James Bond is Britain’s most famous secret agent, and the capital is its most famous city, so it makes sense that 007 would live and work here when he isn’t gallivanting around the world.

Read more
Can you find the animals hiding in London station names? (Photo by Peter Macdiarmid/Getty Images)

You may not realise it but there are animals hiding in stations across London? Play our quiz and see if you can you find them:

Read more
Can you guess the Tube station just from the outside? (Photo by Oli Scarff/Getty Images)

How well do you know your Tube stations? Can you guess these Underground stops from the pictures taken outside them?

Read more