House prices increased in August

Posted: 30 Sep 2010 09:47:55 GMT

House prices swelled in August by 0.3 per cent, taking the average value of a dwelling in England and Wales to £167,423, new figures have revealed.

According to the Land Registry Flagship House Price Index, the findings show an overall annual rise of 6.7 per cent.

The North East saw the smallest yearly increase with just 1.2 per cent, while London saw the largest at 11.4 per cent.

During June 2010, the number of completed house sales grew by nine per cent going from 54,710 in 2009 to 59,390 in June of this year.

And the number of properties worth more than £1 million sold between June 2009 and 2010 jumped 81 per cent from 331 to 599.

Commenting on the latest data, general secretary of the Trades Union Congress Brendan Barber said although house sales for affluent Brits are recovering, first-time buyers are still struggling get onto the property market.
 

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