House prices rise annually

Posted: 29 Apr 2008 11:45:23 GMT

House prices in England and Wales increased by 3.6 per cent year-on-year in March, according to the latest figures.

House prices in England and Wales increased by 3.6 per cent year-on-year in March, according to the latest figures.

The Land Registry has published its house price index, showing that the average property price was £184,789 in the month.

The north-east of England was the biggest winner in terms of monthly price growth, with the average property increasing in value by 2.4 per cent.

It also recorded annual growth of 3.3 per cent but remained the cheapest region, with an average house price of £133,567, making it the cheapest region in which to buy.

London saw the largest annual price increase, with growth recorded at 10.5 per cent.

Month-on-month inflation was recorded as 0.6 per cent, with a typical property in the capital worth £357,675, meaning London remained by far the most expensive place to buy a house.

Flats and maisonettes were the property types which saw the greatest annual price increase, rising in value by an average of 4.1 per cent.

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