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House prices dipped 0.8% in September, says CLG
16/11/10
The cost of the average residential property fell by 0.8 per cent in September compared with August, according to the latest figures.Statistics from the Department for Communities and Local Government show the typical home had a price tag of £211,815 during the month.
Compared with September 2009, property values had risen by 6.5 per cent in England, 1.4 per cent in Scotland and 8.8 per cent in Wales.
However, they declined by 7.6 per cent in Northern Ireland.
London remained the most expensive place in the country to buy a house, with an average price of £340,006. The cheapest region was the north-east, where a property typically cost £138,851.
There was some good news for house hunters in September's figures, as the average amount paid by first-time buyers declined by 0.9 per cent compared with August to stand at £155,738.
Meanwhile, owner-occupiers moving to a new home typically shelled out £246,386, down 0.6 per cent on August.
According to the Council of Mortgage Lenders, there were 50,000 loans advanced for residential property purchase during September worth a combined £7.4 billion.
