30 Nov

Figures show house price rise in October

Figures show house price rise in October

Figures released by the Land Registry at the end of November have shown that house prices for the previous month rose by 0.6 per cent across England and Wales.

This is the fifth consecutive month that the organisation has reported an increase in property values.

Commenting on the data, Oliver Gilmartin, senior economist at the Royal Institution of Chartered Surveyors (RICS), said that while positive, it did not necessarily signal a return to prosperity across the board.

"There remains a wide variation in the strength of the pricing recovery between the regions," Mr Gilmartin explained.

He pointed out that house prices in London grew by more than £4,000 during October, but, by contrast, prices in Wales dropped by almost £2,000 in the same timeframe.

The Land Registry also noted that, in August this year, the number of completed house sales rose by 11 per cent compared with the same time in 2008.

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