Industry surveys showing double-digit growth in house prices have been confirmed by a Land Registry report out today.
The report showed a rise of 10.83% for house prices in England and Wales during the second quarter of 2001 from the same period last year.According to the Land Registry, the average price of a house increased over the period from £105,924 to £117,398.
Prices rose during the period across the whole of England and Wales. The East Midlands held the lead with an increase of 15.6%, while Wales was at the bottom of the table with a 6.48%.
London was also chasing up the rear with prices rising just 6.65%. The average property price in the capital rose to £205,831 in the second quarter, from £193,004 in the same period last year.
The volume of sales increased by 14.62% to 266,536, while 516 homes over £1m were sold, compared with just 293 last year.
EGi News 08/08/01
