In the last 12 months property prices have risen by 2.7% - similar to levels in mid 2008

In total the average house price in the UK has risen and were up by 2.7% in the last 12 months to the end of March 2013, according to the most recent data published by the Office of National Statistics.

Up from the 1.9% rise recorded in the 12 months to February 2013 and prices are stable across most of the country. The average UK mix-adjusted house price in March 2013 was £235,000.

Price levels are now at a resembling level to that of the middle of 2008 but stayed below the peak of January 2008.

Yet the statistics also revealed that there are large regional differences with prices increasing the most in London and still falling Northern Ireland and Scotland.

The national year on year rise showed a rise of 3% in England and 1.2% in Wales, yet this was offset by declines of 1.7% in Scotland and 2% in Northern Ireland and Scotland.

Annual house price rises in England were driven by a 7.6% increase in London and there was a 3.3% rise in the South East and 2.8% increase in the East of England. Average house prices declined by 1.3% in Yorkshire and the Humber and remained unchanged in the North West.

Excluding London and the South East, house prices in the UK rose by 0.6% in the 12 months leading up to March 2013. On a seasonally adjusted basis, UK house prices rose by 0.4% between February and March 2013.

The study also revealed that average mix adjusted house prices in March stood at £244,000 in England, £157,000 in Wales, £130,000 in Northern Ireland and £178,000 in Scotland. London continues to be the English region with the highest average house price at £398,000. The North East had the lowest average house price at £144,000.

London, the South East and the East of England all has prices higher than the UK average price of £235,000. Excluding London and the South East, the average UK mix-adjusted house price was £187,000.

The average price for properties bought by first time buyers rose by 1.3% over the year to March 2013, down from a rise of 1.6% in February 2013. During March 2013 the average price paid for a house by a first time buyer was £175,000.

The average price for properties bought by former owner occupiers (existing owners) rose by 3.2% in the year to March 2013, up from a rise of 2% in February 2013. In March 2013, the average price paid for a house by a former owner occupier was £270,000.

During the 12 months up to March 2013 prices paid for new properties rose by 1% on average, in comparison with a decline of 0.3% in the year to February 2013. The average UK house price for a new property in March 2013 was £230,000.

In the 12 months up to March 2013 prices paid for pre-owned properties rose by 2.8% on average, in comparison with a rise of 2% in the year to February 2013. The average UK house price for pre-owned properties in March 2013 was £235,000.

Regardless of the regional differences the industry considers the figures as being positive. David Newnes, director of LSL Property Services, owners of Your Move and Reeds Rains, said, ‘The UK’s housing market is showing signs of growing stronger, boosted by greater consumer confidence in the market and wider economic recovery in Britain.’

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