2 Aug

Land Registry publishes housing figures

Land Registry publishes housing figures

Housing figures have been published by the Land Registry for the month of June, showing an improved monthly change rate for the first time in well over a year.

The monthly increase indicates a modest improvement, at 0.1 per cent, which is causing prices to flatten rather than decrease.

Data from the city of London showed an annual house price change of -12.5 per cent, indicating a positive easing in depreciation which is yet to be seen in many other parts of England and Wales.

London's monthly price increase of 2.0 per cent - more than any other region - is the impetus for price falls having slowed in the region, while the average property value in the city is currently at £301,859.

The London borough with the highest monthly increase was Hackney, which experienced a rise of 2.7 per cent.

Predictions made by Ed Mead, director at London estate agents Douglas & Gordon, correlate with the findings.

Mr Mead said earlier this month that levels of activity in the London property market were likely to increase.

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