House prices in England and Wales were 6.7% higher in April from a year earlier

House prices in England and Wales were 6.7% higher in April from a year earlier, according to figures from the Land Registry.

Its monthly house price index also found that prices rose by 1.5% between March and April, with the average property price now at £172,069.

The biggest annual rise in prices was once again recorded in London, with property values up 17% over the year.

The smallest annual rise – of 2.9% – was seen in the North East.

There have been worries that the housing market in some areas – especially London – is overheating.

Earlier in the week, the Nationwide building society warned that the London housing market could face a “natural correction”.

The mutual’s chief executive, Graham Beale said there was already a “slowing down in the market place”, and that buyers had started to baulk at ever higher house prices.

Last week, the Office for National Statistics said UK house prices rose by 8% in the year to the end of March.

Unlike other measures of the housing market, the Land Registry figures are based on actual sale prices. They also include cash buyers, who can account for up to a third of deals.

Categories: Uncategorised

House prices in England and Wales were 6.7% higher in April from a year earlier

House prices in England and Wales were 6.7% higher in April from a year earlier, according to figures from the Land Registry.

Its monthly house price index also found that prices rose by 1.5% between March and April, with the average property price now at £172,069.

The biggest annual rise in prices was once again recorded in London, with property values up 17% over the year.

The smallest annual rise – of 2.9% – was seen in the North East.

There have been worries that the housing market in some areas – especially London – is overheating.

Earlier in the week, the Nationwide building society warned that the London housing market could face a “natural correction”.

The mutual’s chief executive, Graham Beale said there was already a “slowing down in the market place”, and that buyers had started to baulk at ever higher house prices.

Last week, the Office for National Statistics said UK house prices rose by 8% in the year to the end of March.

Unlike other measures of the housing market, the Land Registry figures are based on actual sale prices. They also include cash buyers, who can account for up to a third of deals.

Categories: Uncategorised
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