'Average property price is £158,377'

Posted: 29 Oct 2009 11:20:59 GMT

Property prices in England and Wales went up in September, according to the latest data from the Land Registry.

The organisation claims that there was a 0.9 per cent rise in the value of bricks and mortar between August and September, meaning the typical home in England and Wales now costs £158,377.

Both Nationwide Building Society and Halifax have reported property price inflation over the last few months, but place the average UK house price at a higher level than the Land Registry.

These latest statistic are, however, based on transactions that have completed.

London experienced the largest monthly price rise with a house price increase of 1.3 per cent, the research shows. Indeed, the average home value in the English capital now stands at £314,954.

When compared to September 2008's figures, the Land Registry's data indicates that all regions have seen property price deflation. England's north-east recorded the greatest annual price fall with a movement of -8.2 per cent.


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