UK House price average near £200K

August 8, 2006 at 7:41 am | In UK, bubble, economy, forecast, housing market, inflation, interest rate, land registry | Leave a Comment

The registry’s figures show that annual house price inflation was at its highest, at more than 11%, in the north and north-west of England. The key London market saw prices rise by more than 8%.
At the other end of the scale, prices increased by 4% in East Anglia and by 4.4% in the East Midlands.
However, this is still ahead of general price inflation and rises in average earnings.
Overall, the Land Registry report indicated that prices have risen in all parts of England and Wales during spring and summer.
The Land Registry’s findings echo those of recent house price surveys by the Halifax and Nationwide.
Both groups noted that house price inflation – particularly in London – has beaten analysts’ forecasts so far this year.
As a result, last week the Halifax upped its forecast for house price inflation in 2006 from 3% to 5%.
But last week’s increase in UK interest rates to 4.75%, may dampen housing market demand, experts say.
via BBC

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