View the article online at http://citywire.co.uk/money/article/a592528
Londoners see house prices soar 5%
House prices in England and Wales fell 0.3% in April, but shot up 5.1% in the capital.
House prices in England and Wales fell 0.3% in April, according to new official figures.
This brings the average property price to £160,417.
|Region||Monthly change||Annual change||Average price|
|England & Wales||-0.30%||-1.00%||£160,417|
|Yorkshire & The Humber||0.60%||-5.60%||£115,783|
Source: Land Registry
London saw both the steepest monthly and annual rise in prices – up 5.1% in both cases, according to the Land Registry figures.
With a fall of 5.6%, Yorkshire & The Humber experienced the greatest annual price fall. Overall, prices are down 1% in England and Wales compared to the same period last year.
The number of properties sold in England and Wales, meanwhile, increased by 9% to 43,331 in February – which are the most up-to-date figures. Sales of properties worth over £1 million, on the other hand, dropped some 3% to 462.
Yesterday figures from Hometrack revealed that house prices rose 0.2% on the strength of the London market. Outside of the capital, only the South East and East Anglia saw modest price rises of 0.1%.
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by Gavin Lumsden on Apr 16, 2014 at 15:17