16 Mar

London property prices 'rose in January'

London property prices 'rose in January'

The capital was among the places in the UK that recorded house price rises in January.

According to statistics produced by Communities and Local Government, properties for sale in London were valued at an average of £332,476 during the first month of this year.

This was up from the £316,695 recorded in December 2009 and from £299,013 a year earlier.

Over the UK as a whole, prices of residences climbed by 6.2 per cent year-on-year in January 2010, with the mix-adjusted typical value standing at £207,159.

Meanwhile, Scotland registered the most significant rise of all the countries, at 7.1 per cent - followed by England with 6.6 per cent and Wales at 1.3 per cent.

Communities and Local Government - which sets policy on a range of issues, including housing, urban regeneration, planning and fire and rescue - also noted that the average prices of pre-owned dwellings rose by 6.8 per cent year-on-year in January.

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