House prices 'close to 2006 levels'

Posted: 29 Jul 2010 09:44:21 GMT

House prices in England and Wales have risen and are now at similar levels to that seen in the summer of 2006.

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According to the Land Registry, there has been an annual increase of 8.4 per cent in the year to the end of June 2010? Check this.


The average price of a dwelling now stands at £166,072 - a 0.1 per cent rise between May and June.


Property in London saw the biggest swell of 12.2 per cent, with the north-east experiencing the smallest price rise - an abode there now costs around £107,776.


And in the north-west, buyers will need £119,254 to purchase a home.


The number of completed sales in England and Wales grew by 26 per cent to 49,323 in April 2010, compared to 39,280 in April 2009.

Commenting on the figures, Simon Rubinsohn from the Royal Institute of Chartered Surveyors said first-time buyers are still struggling to purchase a domicile.


And he noted the lack of mortgage approvals shows no signs of improving as of yet.



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