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House prices dropping.

THE patchy state of the housing market has been in evidence again as official figures showed a fall in house prices in Yorkshire and the Humber.

Nationally, prices rose in England in the year to August, but this was largely driven by increases in London and the South East.

Prices also rose in Scotland and Wales but showed their sharpest fall in Northern Ireland in more than a year.

Across the UK, prices increased by 1.8% year-on-year in August to average PS234,000, with annual rises of 2.1% in England to typically reach PS242,000, 0.5% in Scotland to average PS184,000 and 1.4% in Wales to reach PS161,000, the Office for National Statistics (ONS) said.

Such is the relative strength of London and the South East in holding the market up, house prices would have remained unchanged across the UK if these regions were not included in the figures, the ONS report showed.

The annual price increase in England was driven by a 6.3% rise in London and 2.4% in the South East.
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Publication:Huddersfield Daily Examiner (Huddersfield, England)
Geographic Code:4EUUK
Date:Oct 18, 2012
Words:181
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