Land Registry: House prices up one per cent

House prices in England and Wales rose by one per cent during February, the latest figures from the Land Registry show.

This brought the annual rate of house price growth up to 8.5 per cent, meaning the average house price across England and Wales is now £177,099.

Buy-to-let landlords in the north-east of England will have witnessed even higher price rises, with the value of a typical property in the area rising by 2.2 per cent during the month, the highest regional growth.

However, this is still the region with the lowest typical house price, with a property costing around £127,690.

When it came to annual house price growth, London was in the lead, seeing rises of 11.3 per cent in the 12 months to February, although prices rose by 0.2 per cent during the month.

While Nationwide data released yesterday showed property price inflation of 0.4 per cent over March and 9.3 per cent across the year to March, Nationwide's chief economist Fionnuala Earley predicted that the housing market would remain "fairly firm" due to supply constraints.

Landlord Mortgages comments ‘The Land Registry House Price Index seems to be a true reflection of market sentiments. London certainly seems to be leading the way with a revival.’

LettingAgent.com comments ‘London rents are climbing, we are taking on properties in London for more rent than a year ago. Increased rents and increased house prices is clearly good news for landlords.’

Buy To Let Property
Buy To Let Tips

© See Terms and Conditions