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Sunday 17th of January 2010
December 30, 2009    

Official: house prices rise for six consecutive months

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by Gill Montia
”Official:

Land Registry data for November show the average house price in England and Wales rising for the sixth consecutive month, to £161,554.

The value of a typical home increased 0.9%, taking the annual decline to just 0.3%, or £8,800 above its April nadir.

Wales experienced the greatest monthly rise with a positive movement of 2.9%.

However, London continued to lead the way out of the downturn, with prices rising by 2% in November and homeowners in the Capital seeing an annual rise of 3.5%.

According to the Land Registry, three other regions have now experienced price increases over the past 12 months: the East (1.7%), South East (2%) and South West (1.4%).

In November, the region with the most significant annual price fall was Yorkshire & The Humber with a movement of minus 4.7%, followed by the West Midlands (minus 3.5%).

Meanwhile, property transactions have remained relatively low, averaging 55,520 per month in the months June to September, compared with 50,187 in the same period of 2008.

While Land Registry figures lag behind those of other commentators on the UK housing market, they are based on completed transactions and therefore widely regarded as the most accurate.

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