DCLG: Average house price hits £205,000

14 March 2007
House prices rose by 2.1 per cent between December and January while house price inflation rose from 9.9 to 10.9 per cent, according to the latest statistics from the Department of Communities and Local Government (DCLG).

The average house price in January was £205,286, almost £4,000 more expensive than one month previously.

Price rises were unevenly distributed across house types, the figures show.

While detached houses soared in value by 4.9 per cent, terraced houses, named as Britain's most popular properties in a recent index from Halifax, became two per cent more expensive and semi-detached house prices rose by just 0.1 per cent.

Unsurprisingly, the highest inflation rate region was London, with 13.2 per cent inflation over the course of the month, followed less conventionally by high inflation in the north-west, Yorkshire and Humber regions.

First-time buyers stood to lose most by buying later, the figures revealed, as house price inflation rates rose from 9.4 per cent to 10.6 per cent in January.

Meanwhile, London mayor Ken Livingstone has confirmed his commitment to building more affordable housing for first-time buyers, denting prohibitive prices to allow them to get a first step on the property ladder.

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