House prices up 0.9% in January

Posted: 01 Mar 2007 10:58:06 GMT

House prices across the UK grew 0.9 per cent in January, the government's latest official Land Registry figures have shown

House prices across the UK grew 0.9 per cent in January, the government's latest official Land Registry figures have shown.

The rise takes the annualised rate of house price growth to 7.7 per cent for the 12 months to January 2007 with the average home now worth £174,827, it said.

Detached homes were the biggest gainers over the period, up an average 8.4 per cent to £266,770 during the 12 months from January 2006.

"This month is the first time since May 2005 that house prices have experienced annual price growth of greater than seven per cent in two consecutive months," the Land Registry explained.

"As with last month, the London property market continues to outperform the rest of the country.

"London can be seen along side Yorkshire and the Humber and the south-east as the most consistent drivers behind recent national house price growth."

Annual house price growth in the capital now stands at 9.9 per cent the figures showed.

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