This compares to increase of 0.6% over the quarter to October and means that the average mix-adjusted UK house price was £206,523. Average mix-adjusted house prices in January stood at £214,852 in England, £143,441 in Wales, £158,868 in Scotland and £133,156 in Northern Ireland.
Average prices decreased during the year in Wales by 0.5%, in Scotland by 1.7% and in Northern Ireland by 7.6%. There was an increase of 0.4% in average house prices in England.
Average house prices decreased in five of the nine English regions over the year to January 2012. The largest decrease of 3.5% was in the North West while the smallest decrease was in the North East and South West, both 0.5%. London registered an annual house price increase of 3.1%.
Over the month to January average house prices increased in five regions including 0.7% in London and 2.2% in the South East. Average monthly house prices fell in four regions including down 1.9% in the East Midlands and down 1.5% in the North East.
London remains the English region with the highest average house price at £349,178 whilst the North East has the lowest average price at £129,501. In England, southern regions including London and the South East all had average prices above the UK average in January.
The index also shows that prices paid by first time buyers were 0.8% higher on average than a year earlier whilst there was no change in the prices paid by former owner occupiers.
The average price paid for new properties increased by 8.8% to £213,390 over the year to January, compared to an annual increase of 9.5% in December. During January 2012 prices paid for new properties increased by 2.3% on average, compared to a monthly increase of 3% in January last year. Month on month price changes in new build properties tend to be more volatile, reflecting low transaction levels.
