30 Dec

Property prices rise during 2010

Property prices rise during 2010

House prices fell during November 2010 but are up over the course of the year, according to the release of the latest House Price Index from the Land Registry.

The figures show that from October 2010 to November there was a drop in the average price of a house of 0.6 per cent, although year-on-year the cost of a home has risen by 2.2 per cent.

London's property prices have shot up in particular during the last 12 months, with a rise of more than six per cent, but in November the cost of a house in Wales fell by over three per cent.

The most recent figures available from the Land Registry also show that fewer deals seem to be being completed, with 55,068 house sales going through in September 2010, down from 58,430 in the corresponding month from the previous year.

Earlier this month, the Council for Mortgage Lenders told estate agents that the housing market is expected to remain stable in 2011.ADNFCR-1222-ID-800316922-ADNFCR

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