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Wurzel Of Highbridge

Ons House Prices Index For August Released Today

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August released today

http://www.ons.gov.uk/ons/rel/hpi/house-price-index/august-2014/stb-august-2014.html

  • UK house prices increased by 11.7% in the year to August 2014, unchanged from the year to July 2014.
  • House price annual inflation was 12.2% in England, 4.7% in Wales, 6.7% in Scotland and 9.6% in Northern Ireland.
  • House prices are increasing strongly across the UK, with prices in London again showing the highest growth.
  • Annual house price increases in England were driven by an annual increase in London of 19.6% and to a lesser extent increases in the South East (12.3%) and the East (11.6%).
  • Excluding London and the South East, UK house prices increased by 7.8% in the 12 months to August 2014.
  • On a seasonally adjusted basis, average house prices increased by 0.6% between July and August 2014.
  • In August 2014, prices paid by first-time buyers were 12.9% higher on average than in August 2013. For owner-occupiers (existing owners), prices increased by 11.2% for the same period.

Since October 2005 the ONS HPI (formerly the DCLG HPI) has been based on a sample of mortgage completions data from the Regulated Mortgage Survey (RMS) as collected by the Council of Mortgage Lenders (CML).

fig2indexvalukalldwellaug14pub_tcm77-379

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If the data was adjusted for (official) inflation, shouldn't it look closer to this?

homepage.png

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If the data was adjusted for (official) inflation, shouldn't it look closer to this?

homepage.png

Shouldn';t prices be adjusted for wage inflation rather like the goods inflation this chart is based on? Discuss...

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