29/02/2008

January House Prices Show Slight Increase

House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry.

The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.1%, with the average house price for January standing at £357,976. The largest monthly growth was seen in the North West with an increase of 2%, taking the average house price there to £139,362.

The volume of transactions was down on the same period last year, with an average of 100,648 per month in the months August to November 2007, compared with 117,173 per month from August to November 2006.

(VB)


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