London and the South East driving UK property prices up | Europe | News
London and the South East are keeping average UK property prices up but they are falling a lot in Northern Ireland and also in Wales, the latest figures based on mortgage data show.
In the 12 months to February 2012, UK house prices increased by 0.3% to an average of £224,473, the data from the ONS House Price Index shows.
But this hides a very different regional picture. In the 12 months to February 2012, average house prices increased in both England and Scotland by 0.4% and 1.1 per cent respectively. These increases were offset by decreases in Wales, where average prices decreased by 0.5% and Northern Ireland, where average prices fell by 9.7%.
The annual increase in average house prices in England was driven by increases in both London and the South East, where prices increased over the year by 1.7% and 1.2% respectively.
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