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Northern Irish house prices crash 10 per cent

New ONS figures show decreasing house prices in Wales, Scotland and Northern Ireland over the past year.

In the 12 months to July this year, Northern Irish house prices declined by 10.9 per cent, while in Scotland and Wales they decreased by 1.1 per cent and 0.2 per cent respectively.

England, meanwhile, saw a house price increase of 2.4 per cent, driven by a 5.7 per cent rise in London and increases of around 2 per cent in the East and Yorkshire and the Humber.

In the North-west of England prices declined by 1.3 per cent, while in the North-east they shrank by a modest 0.5 per cent.

Across the UK, the figures balanced out to growth of 2 per cent over the year, a slight decrease from the 2.3 per cent posted in the 12 months to June. They reflected an unchanged figure between June and July of this year.

The increase was marginally greater for owner-occupiers, who bought houses at a 2.0 per cent higher rate, than for first-time buyers, for whom prices increased by 1.8 per cent over the year.

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