House prices have broken the £200,000 barrier so recent government figures show.
There was strong growth between November and December 2006, pushing the average home price to £201,090, so the Department for Communities and Local Government declared today.
During that same period, annual house price growth rose from 8.8% to 9.9%.
House price growth in Northern Ireland was greater than anywhere else in the UK, increasing 39.9% since December 2005, with there being a 15% growth in Scotland .
London properties were the most expensive in England and Wales, going up 11.8% in 2006, with the average London house price increasing to £296,160.
East Midlands saw the average house price going up 6% over 2006 to reach £167,009. The north east is the cheapest place to invest in a low-priced property in the UK, at an average of £146,183.
After that the next least expensive property investment location is Scotland, where the average property price was £147,687 in December.
First time buyers are of course finding it more and more difficult to get onto the property ladder with average house price being £200,000.
Access to housing is likely to deteriorate with buyers having trouble raising sufficient deposits. In the East Midlands, the average house price is £146,183, five times average income.
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House Price Average is GBP200,000
Mon, 12 Feb 2007
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