The latest
house price data from the Land Registry shows that house prices in England and
Wales have increased by 4.6 percent in the year to May 2015. According to the
Land Registry the price of an average house in May was £179,696.
On a monthly
basis however house prices remained flat across England and Wales, but in
London they rose by 0.7 Percent over the month and by 9.1 percent in the year
to May.
House prices
in Wales did not fare so well with prices decreasing by 1.7 percent in May and
going down in the year to May by 0.6 percent. Although the South West of
England as well as Yorkshire and the Humber both saw a monthly fall of 0.6
percent, year on year prices went up in those regions by 3.6 percent and 1.1
percent respectively.
Looking at
the prices of different property types over the year, detached houses saw the
biggest increase of 5.2 percent, followed by semi-detached houses increasing by
4.7 percent, then terraced at 4.5 percent and flats/maisonettes going up by 4
percent.
On a more
local basis Reading had the greatest annual price increase in May of 13.3
percent with Middlesborough seeing the largest fall at -7.2 percent.
Stockton-on-Tees had the largest monthly increase in May of 5.8 percent and
Halton with -2.8 percent saw the largest fall.
The house
price graph below shows the latest available data of Nationwide, Halifax and
the Land Registry HPI prices from before the credit crunch up to May 2015 and
Rightmove asking prices to June 2015.
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