London drives English house price growth, figures show
London is bucking the trend of static house price growth being seen across the majority of the UK, new official figures have revealed.
According to the latest House Price Index released by the Office for National Statistics, the cost of residential properties in the capital climbed by 4.9 per cent in the 12-month period ending in April this year.
This represents a significantly higher figure than the 1.4 per cent expansion recorded for Britain as a whole, which was contributed to by growth of 1.7 per cent in England and falls of 1.1 per cent and 0.3 per cent in Wales and Scotland.
Meanwhile, prices slumped by 8.1 per cent in Northern Ireland as the effects of the global economic downturn continued to impact the country's housing market.
However, rises of 2.1 per cent and 1.6 per cent in the South East and South West - as well as London's 4.9 per cent hike - helped England's overall figure into positive territory.
Posted by Andy Britten
Published 20th June, 2012
© 2012 Estates IT Limited
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