Property boom rolls onward

Posted: 30 Jan 2007 11:46:58 GMT

House price rises continued to barrel along during December following 7.8 per cent growth in the previous 12 months, Land Registry figures have shown.

House price rises continued to barrel along during December following 7.8 per cent growth in the previous 12 months, Land Registry figures have shown.

The annual figure is the highest since 2004, with growth in England and Wales running at 0.7 per cent in December, bringing the average house price to £173,717.

The capital continued to lead growth with prices 10.4 per cent higher at the end of the year than at the beginning and growth of two per cent during December.

The average London property is now worth £314,550, 81 per cent higher than the average across England and Wales.

The north-east showed the lowest growth over 2006, with price rises of just 4.5 per cent, compounded by a fall of 1.6 per cent during December to £124,265.

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