The Land Registry, which measures house prices by assessing houses sold in England and Wales, revealed that house prices rose by 1.7 per cent in July. It says the average house price in the two countries is now £155,885.
According to its survey, this was the biggest recorded leap in prices since July 2004.
This comes after Nationwide revealed in its house price index yesterday that house prices also rose by 1.6 per cent. It says all areas of England and Wales experienced house price increases in July.
Although the Land Registry recorded a rise in house prices, it says year-on-year figures are still down 11.7 per cent.
It says sales volumes averaged 35,848 per month from February to May
2009. In comparison to this, during the same months in 2008, the figure stood at 61,743.