London house prices up almost one-third

Posted: 24 Jun 2014 17:24:18 GMT


            Property News - London house prices up almost one-third

House prices across the capital have seen far greater growth than the rest of England and Wales.

New figures have revealed a considerable increase in London house prices over the course of the present parliament.

Data compiled by comparison website GoCompare.com has revealed a disproportionate growth between the capital and the rest of the UK over the last four years, with London prices rising by almost one-third (31 per cent.)

On average, house prices in the capital have grown by more than £100,000 over the last four years and now stand at £435,034.

This is compared to an average increase across the rest of England and Wales of just 0.61 per cent, with a typical home outside of London now valued at £139,684.

Moreover, the north/south divide continues to be seen, with the north-west, north-east and Yorkshire and the Humber regions all witnessing property price falls in recent years.

Matt Sanders, mortgage spokesperson at Gocompare.com, commented: "With the European elections behind us and British political parties now focusing on next year's general election, balancing the housing market and preventing a London bubble, must surely be a key issue."

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