Mortgage News
Land Registry: House prices rise 0.3% in August
Annual property price growth has held steady for the second consecutive month across England and Wales at 6.7%, according to the Land Registry.
House prices rose 0.3% in August compared to July, taking the average house price to £167,423 from £166,798 in July.
Land Registry figures showed that all regions in England and Wales have experienced increases in their average property values over the last 12 months.
London has recorded the highest annual price change at 11.4%, while the region with the lowest annual growth was the North East at 1.6%.
The West Midlands was the region that had the greatest monthly rise in August, up 1.2%, while Yorkshire & The Humber experienced the most significant monthly price fall, of -1.4%.
The Land Registry’s most recent figures showed that during June 2010, the number of house sales completed in England and Wales rose by 9% to 59,390 compared to 54,710 in June 2009.
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The number of properties sold in England and Wales for over £1m increased by 81% between June 2009 and June 2010, from 331 to 599.