Key Findings

• UK house prices increased by 9.1% in the year to February 2014, up from 6.8% in the year to January 2014.
• House price annual inflation grew by 9.7% in England, 5.3% in Wales, 2.4% in Scotland and 2.8% in Northern Ireland.
• House price growth is 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 rises in London (17.7%), the South East (8.0%) and the East of England (7.7%).
• Excluding London and the South East, UK house prices increased by 5.8% in the 12 months to February 2014.
• On a seasonally adjusted basis, average house prices increased by 1.9% between January and February 2014.
• In February 2014, prices paid by first-time buyers were 10.5% higher on average than in February 2013. For owner-occupiers (existing owners), prices increased by 8.6% for the same period.