London house prices up 5%, official figures show

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House prices continued to rise in the 12 months to November 2012, figures from the Office of National Statistics show. Annual house price increases in England were driven by a 5% rise in London and a 3% increase in the South East. Excluding London and the South East, UK house prices increased by 0.8% in the 12 months to November 2012. Also, in November 2012, prices paid by first-time buyers were 2.7% higher on average than in November 2011. The average house price in November 2012 stood at £241,000 in England, £157,000 in Wales and £178,000 in Scotland. January 18, 2013
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