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Frequency of release: Monthly
Geographical coverage: UK
Geographical breakdown: Region
In the 12 months to January 2013 UK house prices increased by 2.2%, down from a 3.3% increase in the 12 months to December 2012.
House price growth remains relatively stable across most of the UK, although prices in London are increasing and prices in Northern Ireland are falling.
The year-on-year increase reflected growth of 2.4% in England and 0.9% in Wales, which were offset by declines of 0.2% in Scotland and 5.4% in Northern Ireland.
Annual house price increases in England were driven by a 5.5% rise in London and a 3.0% increase in the East.
Excluding London and the South East, UK house prices increased by 1.2% in the 12 months to January 2013.
On a seasonally adjusted basis, UK house prices fell by 0.7% between December 2012 and January 2013.
In January 2013, prices paid by first-time buyers were 2.0% higher on average than in January 2012. For owner-occupiers (existing owners) prices increased by 2.2% for the same period.
The ONS House Price Index (HPI), previously published by the Department for Communities and Local Government (DCLG) is a monthly release that publishes figures for mix-adjusted average house prices and house price indices for the UK and its component countries and regions. The index is calculated using mortgage financed transactions that are collected via the Regulated Mortgage Survey by the Council of Mortgage Lenders. These cover the majority of mortgage lenders in the UK.
The HPI statistical bulletin provides comprehensive information on the change in house prices on a monthly and annual basis. It also includes analysis by country, region, type of buyer (first-time buyers and former owner-occupiers) and type of dwelling (new dwelling or pre-owned dwelling). Historical series for all accompanying tables are also available in the data section of this release.
The transfer of the HPI from DCLG to ONS took place in April 2012. All associated HPI tables that were previously published by DCLG (tables A1–A7 and live tables 502–508, 511–517, 521, 523, 534–540, 557, 571, 572 & 590–594) are now available in the HPI reference tables which can be accessed via the data section of this release. Note that ONS have renumbered these tables as part of the transfer. A full look-up table is included in each HPI reference table that will allow users to locate the new ONS table number. The content of these tables has not changed.
All historical HPI data previously published by DCLG will remain on the DCLG website for at least the next 12 months.
Revisions this month
There have been small revisions to the seasonally adjusted series for the last 12 months, which are expected from the monthly seasonal adjustment process.
Revisions expected next month
New mix-adjustment index weights for 2013 will be implemented in the next release as scheduled. This update of the weights will revise the January 2013 mix-adjusted prices. For further details on the annual update of weights, please see the 're-weighting' section in the statistical bulletin.
Other useful information:
From the April 2012 statistical bulletin onwards, average mix-adjusted house prices are published rounded to the nearest £1,000.
ONS HPI monthly and quarterly tables (numbers 1 to 19). (3.22 Mb Excel sheet) This reference table provides full historical series for the monthly tables accompanying the House Price Index statistical bulletin. This reference table also contains all the quarterly live tables transferred to ONS from DCLG. Please note that during the transfer, ONS has renumbered the live tables - full details of the new numbers and their corresponding DCLG numbers can be found in the 'contents' page of the reference table. This month, tables 1 to 9 have been updated with the latest monthly data for January 2013. The seasonally adjusted figures for the last 12 months in Table 7 have also been revised this month as scheduled. This reference table also contains all the quarterly live tables transferred to ONS from DCLG. There have been no updates to any quarterly tables this month.
ONS HPI annual tables (numbers 20 to 39). (1.15 Mb Excel sheet) This reference table contains all the annual live tables transferred to ONS from DCLG. This month, tables 22, 23, 24, 25, 26, 27, 28, 31, 32, 33 & 34 have been updated with the latest annual data for 2012. The remaining tables will be updated in July 2013.