26 Feb

House prices 'up 5.2 per cent'

House prices 'up 5.2 per cent'

House prices in England and Wales have risen by an annual average of 5.2 per cent, it has been found.

According to new figures from the Land Registry, the typical value of a residence stood at £165,088 in January.

This was up 2.1 per cent on December's figure and was the second month in a row in which the number was positive.

London was identified as the place which experienced the most significant price gains, with the region registering a rise of 10.5 per cent.

In contrast, the north-east saw a monthly price fall of 1.3 per cent.

Recently, Communities and Local Government revealed that estate agents operating in London had more properties on their books in 2008-09 than they did in the year before.

The department noted a rise in the supply of housing in the capital of three per cent over the 12-month period, a figure which may be welcomed by those seeking to buy a house.
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