30 Mar

London 'leads the way' in house price growth

London 'leads the way' in house price growth

More people may be looking for property for sale in London, as the capital has been highlighted as having led price growth in the first quarter of the year.

According to figures from Nationwide, seasonally-adjusted values were up 2.5 per cent over the three-month period - while annual growth was 15.7 per cent.

For the country as a whole, the cost of the typical property stands at £162,887 - up 1.6 per cent from the final quarter of 2009 and 8.8 per cent compared to a year ago.

Chief economist Martin Gahbauer noted that Greater London "maintained its position as the best-performing region", adding that the east Midlands was also strong.

"The first quarter of 2010 saw continued house price growth across most UK regions and all regions saw an improvement in their annual rate of change," he added.

Last week, the Land Registry revealed that London house prices were up 11.9 per cent in February, compared to the same month in 2009.

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