London house prices remain high
In news that may interest those wondering whether they should buy or rent when looking for a house in London, new figures have shown that house prices have remained unchanged in the past 12 months.
Data from the Department for Communities and Local Government has shown that the capital has not seen its homes getting any cheaper, despite an overall drop of 0.3 per cent across the country.
This left the average London price at £343,182, compared with the English average of £224,207 and the UK average of £217,171.
Many contemplating their options may decide that this difference and the overall difficulty of affording a London property may mean that renting is a better way to proceed.
The Financial Times House Price Index, published last week, shows an even more unfavourable pattern for would-be housebuyers in London.
It indicated that the average annual house price inflation rate for the capital in the last three months was 1.8 per cent, compared with a national fall of 2.2 per cent.
Published 16th September, 2008
© 2008 Estates IT Limited
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In news that may interest those wondering whether they should buy or rent when looking for a house in London, new figures have shown that house prices have remained unchanged in the past 12 months.