27
Aug
House prices up 0.4% in July, says report
UK property prices posted an increase of 0.4 per cent last month,
according to new figures from the Land Registry.
The organisation's latest index reveals that the average house
price seen by estate agents in England and Wales was £166,798
in July.
According to regional analysis, London experienced the highest
price inflation over the last 12 months with an increase of 12.1
per cent, while the south-west posted the greatest monthly rise at
2.2 per cent.
The Land Registry also said the number of properties sold for more
than £1 million increased by 67 per cent between May 2009 and
the corresponding month this year.
Recent figures from the Council of Mortgage Lenders showed that
mortgage lending increased by five per cent between June and
July.
Stuart Law, chief executive of Assetz, suggested people looking to
purchase a house for sale in the UK should be encouraged by what he
described as a "continued [and] moderate firming up in the
market".
