The release has identified regional variations in the housing market with prices in Scotland increasing by 3.6% against falls in England (0.3%), Wales (0.8%) and Northern Ireland (10.3%). Prices in the quarter ending July fell by 0.5%, with the average house price now standing at an unseasonally adjusted £217,171.
Annual average house prices paid by first time buyers in July 2008 were 1.6 per cent lower than a year ago, but by comparison average house prices paid by former owner occupiers were 0.1 per cent higher.
