-The mix-adjusted average house price in the UK in October 2005 stood at £186,103, down slightly from £186,755 in September 2005 (not seasonally adjusted).
-UK annual house price inflation in October 2005 was 2.2 per cent, down from 3.3 per cent in September 2005. Annual house price inflation in London was -0.2 per cent in October 2005, down from 1.9 per cent in September 2005.
- The UK annual house price inflation rate for the 3 months to October 2005 was 2.8 per cent and 0.8 per cent in London.
The UK house price inflation rate fell from 3.3 per cent in September 2005 to 2.2 per cent in October 2005. Prices fell by 0.3 per cent between September and October, compared to a rise of 0.7 per cent seen over the same period last year.
The fall in UK prices between September and October can be attributed to falls in average prices for most dwelling types. In particular, prices for detached houses fell by 0.6 per cent, terraces, by 0.5 per cent. Prices for flats rose by 0.1 per cent.
In the home countries, England, Scotland and Northern Ireland saw falls in annual inflation in October, while inflation in Wales rose. The inflation rate in England fell from 2.5 per cent in September to 1.3 per cent in October; in Scotland the inflation rate fell from 10.2 per cent to 9.1 per cent; and in Northern Ireland fell from 16.7 to 11.1. Over the same period, in Wales the rate rose from 7.3 per cent to 9.8 per cent.
House price inflation fell in six of the English regions but rose in the other three. The highest inflation rates remain in the north in North East (8.7 per cent), Yorkshire and the Humber (7.2 per cent) and North West (6.4 per cent). Inflation rates were much lower in the East Midlands (1.4 per cent) and West Midlands (0.9 per cent). House prices in the South West were unchanged over the previous year and inflation rates in the East, South East, and London were -1.0, -0.4 and -0.2 per cent respectively. The inflation rate for London fell below zero because prices fell between September and October by 1.2 per cent compared with a rise of 0.8 per cent in the same period last year.
Regional house prices
Mix-adjusted average house prices in October were £194,824 in England, £152,078 in Wales, £128,029 in Scotland and £134,167 in Northern Ireland.
The English region with the highest average house price in October remains London at £266,540. The lowest average price was in the North East at £136,389.
Only the East, London, South East and the South West had average prices above the UK average.
House price inflation-type of buyer
The UK house price inflation rate for first time buyers remained at 5.0 per cent between September and October. This was due to similar small changes in prices between September and October in the properties bought by first time buyers, both this year and last year.
The inflation rate for former owner occupiers fell from 2.7 per cent in September to 1.2 per cent in October. This was due to a small fall of 0.4 per cent in prices between September and October in the properties bought by former owner occupiers, compared with a rise of 1.1 per cent over the same period last year.
The average price paid by first time buyers across the whole of the UK was £152,331 in October, while the average price paid by former owner occupiers was £201,374
