Call For More Affordable Homes as House Prices Rise By Nearly 10%

UK house prices have increased by nearly 10% over the past 12 months, official figures showed today - prompting an urgent call for the government to build more affordable homes. The Office for National Statistics reports annual house price inflation of 9.6% for during the year to March 2015. Annual house price growth in England has been driven by substantial increases in the East (11.4%), London (11.2%) and the South East (11.2%). But even excluding London and the South East, UK house prices still increased by 8.1% in the 12 months to March 2015. In March 2015, prices paid by first-time buyers were 7.8% higher on average than in March 2014. Read more on 24dash.