House prices increased again in January and have risen by more than 5% in the last 12 months, figures from the Land Registry have revealed.
The positive January change of 2.1% in the average price of a home in England and Wales is the eight month in succession that the index has registered an increase. Since January 2009, the average value of property has recorded a rise of 5.2%. “While not all regions are recovering at the same rate, it is clear that overall prices are increasing,” said the Land Registry.
Somebody purchasing a home in the UK can now expect to pay a figure of £165,088 on average. On an annual basis, the region that registered the most significant improvement was London, at 10.5%.
Source – eMoneyfacts
Justin Moy