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July 2010 House Prices up 0.4%

July house prices were up 0.4% on June, according to the latest Land Registry House Price Index.

It doesn’t sound much, but up, is up !

The average house price in England and Wales is now £166,798.

The data also shows that there has been an annual price increase of 6.7%.

Nine areas in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 12.1%. The region with the greatest annual price fall is the North East with a movement of -1.4%. The South West experienced the greatest monthly rise with a movement of 2.2%. Wales experienced the most significant monthly price fall with a movement of -1.1%.

The most up-to-date figures available show that during May 2010, the number of completed house sales in England and Wales rose by 8% to 49,412 from 45,814 in May 2009.

The number of properties sold in England and Wales for over £1 million increased by 67% between May 2009 and May 2010, from 255 to 426.

The small increase in property prices is small but the signs are there for property to now increase and we look forward to some growth here in Bournemouth.

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Posted: 27th August 2010

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