UK Property Update: Average house price rises £1,500 in September

The average UK house price in September stood at £198,552 - up from £197,009 in August 2006, latest data from the Department for Communities and Local Government (DCLG) reveals.

UK annual house price inflation in September 2006 was 8.0%, up from 7.4% in August 2006. Annual house price inflation in London was 9.0%
in September 2006, up from 7.6% in August 2006.

The UK annual house price inflation rate for the 3 months to September 2006 was 7.1%, and 7.8% in London.

DCLG said the rise in UK prices between August and September can be attributed to rises in average prices for all dwellings; for terraced houses and flats (both 1.3%) bungalows (0.9%), detached houses (0.4%) and semi detached houses (0.2%).

In the home countries in September, England, Scotland and Wales saw
increases in inflation, while inflation fell in Northern Ireland. The inflation rate in England rose from 6.6% in August to 7.2% in
September; the inflation rate in Scotland rose from 12.7% to
12.9%; in Wales the rate rose from 7.0% to 10.3%.

In Northern Ireland the rate fell from 26.6% to 23.6%, for UK & Irish Mortgage rates click to or in the UK FREEPHONE 0800 092 0800, 0044 870 050 6016 elsewhere.