House Prices Edge Upwards

‘According to the latest figures from the Land Registry, house prices in England and Wales rose by 1% in July, the highest single monthly jump since January 2012.

The data, based on completed sales of properties changing hands at least once since 1995, lags the other house price indices and puts the average price of a property at £164,098, an increase of 0.8% on July 2012.

The Land Registry figures showed prices were higher than in June in all but two areas – Wales and the north-west, where they dropped by 0.5% and 0.1% respectively. The East Midlands recorded a 2.1% jump in prices over the month, more than offsetting the 0.9% fall recorded in June, while in the north-east there was a 2% rise.

In London prices were up by 2.1% month-on-month and by 6.3% over the year, to an average of £385,799.’

Sources: The Guardian, Daily Mail, Daily Mirror

Myfanwy Neville

Partner: Property and Construction, Sustainability and ESG

T +44 (0)20 8922 9376
E Myfanwy.Neville@bkl.co.uk

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