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Residential property prices in the UK increased by 0.6% in October but were down 0.4% year on year, according to the latest UK house price index statistics produced by the Department for Communities and Local Government.

On a quarterly basis average house prices increased by 0.6% to the end of October, compared to a decrease of 0.6% over the quarter to July.

During the year average prices decreased throughout the UK countries In England prices were down 0.2%, in Wales they were down 0.5%, in Scotland they were down 1.5% and Northern Ireland saw the steepest fall of 12.1%.

Prices paid by first time buyers were 0.4% higher on average than a year earlier whilst prices paid by fo...

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