News: House Prices Up 0.2% MoM and 8.5% YoY

Thu, 03 Jun 10

House prices rose by just 0.2% between March and April, according to latest figures from the Land Registry for England and Wales.

Its house price index also shows that the annual increase in prices between April 2009 and April this year was 8.5%. The average price of a home in April stood at £165,596.

All regions in England and Wales saw annual price increases in the 12 months to April this year. The region with the highest annual price change was London, which saw an increase in prices of 14.8%. Yorkshire & The Humber saw the lowest price increase, rising just 0.7% over the same period.

The latest monthly figures were particularly bleak for homeowners in Yorkshire & The Humber, where prices fell 2.2% between March and April. 

House sales are increasing, the Land Registry added. Its most up to date figures show that during February this year there were 40,502 sales, an increase of 49% on February 2009s total of 27,190.

Latest asking prices figures indicate that house prices could slip back in the coming months. In the month leading up to Home.co.uks May report the mix-adjusted average asking price for homes on the market in England and Wales fell by 0.2%.

By Joe Lepper 

See also: Asking Price Index, House Prices and Trends by Town and Postcode, Mortgages, Life Insurance and Mortgage Protection Guide

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