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House prices rise for sixth straight month

The average house price in England and Wales rose for the sixth straight month in April, increasing by 0.2 per cent to £165,596, according to data from the Land Registry.

The monthly house price index also shows an annual price increase of 8.5 per cent since April last year.

Figures show an increase in the average house price across all regions in England and Wales in the past 12 months. London experienced the highest increase, with house prices rising by 14.8 per cent over the year. Yorkshire & Humberside experienced the lowest growth in prices over the year, registering a 0.7 per cent increases in house prices.

The North East registered the biggest monthly increase in house prices with a movement of 3.1 per cent, whereas Yorkshire & Humberside experienced the biggest monthly fall with a drop of 2.2 per cent.

The most up-to-date figures available show that during February 2010, the number of completed house sales in England and Wales rose by 49 per cent to 40,502 from 27,190 in February 2009.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Mortgage Broker N3 1st June 2010 at 1:49 pm

    …with CGT in at 40% to 50% soon, oversupply will rock the housing market once again…..but lower prices are good for everyone (except the lenders)

  2. Yeah I believe you why is it we getting a constant stream of stories in the media and so-called independent sources saying house prices are rising. First of all you have to take into account there is a very small amount of data around as mortgage completions are at all-time lows. You also have to take into consideration regional differential as in my local area house prices have remained static if not fallen Ipswich.

    Isn’t it about time that the financial services authority starts to regulate this is t and stop rit the biggest culprit is t providing biased opinions the BBC. This is nothing short of manipulation on behalf the lenders as it is in their interest to see house prices rising.

    It is clear that we need strong regulation in respect of lending and also media attention to house price.

    The FSA talks about taking more direct action or maybe it’s about time and it started educating the masses that houses are not the safest investment and that they should look Diversifying one’s portfolio.

    The FSA should also be instructing a government run organisation like the BBC to show the other side of the property game where people have lost their entire fortunes.

    Like all industries ours is directly affected by changes in house prices and is about time our industry took a more responsible outlook. I for one would rather see a stable housing market managed over a long period of time than having the boom and bust as it is very hard to run a business with these levels of fluctuation. We are seeing record numbers of mortgage brokers go out of business and I have also known local conveyancing agents struggle over the last 3 years

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