House prices continue surge

Posted: 03 May 2007 11:44:29 GMT

House prices are continuing to show little or no sign of a slowdown, according to new figures from the Land Registry.

House prices are continuing to show little or no sign of a slowdown, according to new figures from the Land Registry.

The Registry's House price index for March shows that prices in England and Wales have risen by over eight per cent in the past year, with an increase of one per cent between February and March alone.

At 8.3 per cent, it is the highest increase for nearly two years, with the average house now priced at £178, 423.

The figures also showed significant regional variation, with the highest price rise, 14.7 per cent, coming in Brighton and Hove, which was established last month by Halifax to have the highest property price per square foot in the UK.

London continues to outstrip the country as a whole with an 11.6 per cent rise, while in contrast the midlands and north were comparatively depressed, with the lowest annual rise being in Nottinghamshire at 1.9 per cent.

Prices in the north-east region actually fell by 0.1 per cent in March.


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