Prices up in January

Posted: 13 Feb 2008 10:44:57 GMT

The average property price increased marginally between December and January.

The average property price increased marginally between December and January.

That is according to Acadametrics, the research firm behind the Financial Times House Price Index.

It has revealed that the average house in England and Wales increased in value by 0.1 per cent month-on-month.

Commenting on the figures, Acadametrics chairman Peter Williams conceded that 2008 will be a "challenging" year.

However, certain regions performed better than others, with London still leading the way despite recent drops.

The capital recorded annual inflation of 14.5 per cent, well above the 6.5 per cent figure recorded for the rest of England and Wales.

Within London there were also huge variations, with prices in Kensington and Chelsea increasing by 29.6 per cent year-on-year.

However, Bexley only saw price growth of 7.6 per cent, while Hillingdon did not do much better with an annual increase of 8.5 per cent.

The majority of London's 33 boroughs saw annual growth of between ten and 20 per cent, with six recording growth lower than ten per cent and seven seeing house prices increase by more than 20 per cent.

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