January house prices 'saw rises'
January saw property prices across England and Wales experience positive growth for the second month in a row, according to the latest data.
The Land Registry reports that the average house price increased by 2.1 per cent between December and January, demonstrating an annual price change of 5.2 per cent.
This takes the average property price in the UK to £165,088.
Meanwhile, the figures also revealed the region with the highest annual price change was London - with 10.5 per cent growth.
The average cost of a home in the capital now stands at around double the UK average - at £336,212.
Such an estimate may convince Britons to choose flats to rent in Hammersmith or elsewhere in the city, the cost of which is likely to be far cheaper than buying in the same region.
This may particularly be the case after the Bank of England revealed that the number of loan approvals for house purchases fell by 17 per cent between December and January.
Written by Martyn Glynn
Published 2nd March, 2010
© 2010 Estates IT Limited
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