Land Registry records annual property price increase

Posted: 29 Jun 2010 10:44:28 GMT

The Land Registry has recorded an annual rise in property prices across England and Wales

According to the organisation, the value of homes around the country was up on average last month by 8.2 per cent on the same time last year.

At the end of the 31-day period, the typical price of a residence stood at £165,314.

This was the seventh month in a row that such an increase was noted.

The region that had the highest yearly alteration in values was London, which recorded increases of 14.2 per cent.

Meanwhile, the north-east was the lowest at 1.8 per cent.

However, while an annual gain was recorded, the figures represented a fall on the previous month of 0.2 per cent.

It is not yet known how the Budget announced earlier this month by new chancellor George Osborne will affect the housing market over coming months but some are concerned it may lead to a double-dip recession.


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