Average Welsh property valued at £119,990

Posted: 29 Jun 2009 10:27:20 GMT

The average house prices in all parts of England and Wales for May have been calculated by the Land Registry.

Following the research, it was stated that property in Wales increased in value more than any other region.

With a reported 1.2 per cent boost in property prices during May, the average cost of a Welsh home stood at £119,990.

However, the Land Registry indicated that the average property in England and Wales dropped in value by 0.2 per cent at the same time.

This finding is contrary to other similar house price indexes published earlier this month and it contradicts recent positive comments from groups such as the National Association of Estate Agents.

The professional body for estate agents in the UK stated earlier this month that the success of the property market could help lead the country out of recession, while both Nationwide Building Society and Halifax reported property price inflation in May.


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