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Thursday, 17th July 2014

UK: House Price Index, May 2014

Source: Office for National Statistics (UK)

Key Findings:

UK house prices increased by 10.5% in the year to May 2014, up from 9.9% in the year to April 2014.

House price annual inflation was 11.0% in England, 6.5% in Wales, 3.6% in Scotland and -0.7% in Northern Ireland.

House prices are increasing strongly across most parts of the UK, with prices in London again showing the highest growth.

Annual house price increases in England were driven by a record annual increase in London of 20.1% and to a lesser extent increases in the South East (9.6%) and the East (8.6%).

Excluding London and the South East, UK house prices increased by 6.4% in the 12 months to May 2014.

On a seasonally adjusted basis, average house prices increased by 0.8% between April and May 2014.

In May 2014, prices paid by first-time buyers were 11.3% higher on average than in May 2013. For owner-occupiers (existing owners), prices increased by 10.1% for the same period.

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Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

Adrian can be reached at adrian.janes@freepint.com

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