27 Jun

House prices remain static

House prices remain static

House prices in England and Wales remained static between April and May, according to new data from the Land Registry.

After eight consecutive months of falls, the average house price remained at £183,266, suggesting that the market may have bottomed out.

The organisation found regional variations, with Wales and the west Midlands reversing recent trends by recording monthly increases in property values of 0.6 per cent and 0.5 per cent respectively.

Meanwhile, the north-east region experienced the biggest fall in house prices, with values dropping by 2.4 per cent.

It also noted a difference between flats and houses, with the former seeing an annual price rise of 2.1 per cent, compared to 1.8 per cent for the latter.

One town that has bucked house price trends completely is Barrow-in-Furness, Cumbria, which has witnessed at 11 per cent increase over the last 12 months.

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