London tops the table of house price growth in Q2

  • 10 of the 13 UK regions saw annual price rises in the second quarter of 2013
  • London continues to lead annual price growth, as prices climb to record high
  • Northern Ireland worst performing region in Q2
UK Fact File
Average UK House Price £167,294
Annual percentage change 1.4%
Quarterly change* 0.4%
Most expensive region London
Least expensive region N Ireland
Strongest annual price change London
Weakest annual price change N Ireland

* Seasonally adjusted
(Note that quarterly % changes are revised when seasonal adjustment factors are re-estimated)

Please note that these figures are for the three months to June, therefore will show a different UK average price and annual percentage change to our monthly house price report.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said:

“The price of a typical house rose by 0.4% in Q2 2013, after allowing for seasonal effects. Prices were up 1.4% compared with the same quarter the previous year.

“London was again the top performing region, with prices up 5.2% compared with Q2 2012. London has seen the greatest recovery in prices of any region, and prices are now 5% above their 2007 peak at £318,214.

“Wales saw a softening in annual price growth from 2.5% (in Q1) to 1.2%. Scotland continued to see price falls, with prices down 1.2% year-on-year. Northern Ireland usurped Scotland as the worst performing region, with prices down 2.1% compared with Q2 2012.

“Amongst the English regions, the South of England and the Midlands continued to outperform the North of England. Outside of London, East Anglia was the strongest performing region, with annual price growth of 3.6%, whilst Yorkshire & Humberside was the weakest English region, with prices down 0.8% over the year.”

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