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UK House Prices Situation at 10 8 2007: House prices broadly stable in most areas
UK House Prices Forecast: Stable or slight falls in most areas of England & Wales
Land Registry Figures For June Released
The Land Registry has recently published its latest house price report, covering June 2007. Although the Land Registry's House Price Index (HPI) is published a month behind most other HPIs, it is generally considered a more objective and accurate measure of actual property sale prices in England and Wales. This is because it records all sale prices - not just mortgaged sales or asking prices.
The Land Registry figures for June show that five out of ten regions of the UK experienced falls in average house prices in June:
•
Wales: -1.1%
• East Midlands: -0.6%
• South-West: -0.5%
• South-East: -0.3%
• Yorkshire & Humberside: -0.1%
The remaining five regions experienced a rise in their average house price:
•
East Anglia: +0.2%
• North East: +0.8%
• North West: +0.9%
• West Midlands: +1.2%
• London: +1.5%
These figures highlighted the growing disparity in house price inflation across the UK, with the annual rate of increase for London now sitting at 15.8% - compared to just 5.5% in the East Midlands.
July House Price Indices Published
In addition to the Land Registry figures for June, three organisations updated their HPIs with figures for July this week.
Rightmove recorded an average growth in asking prices of 0.3% across England and Wales for July. Halifax recorded a slightly higher average level of growth, at 0.7%, while Hometrack's index only recorded an average increase of 0.1%.
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House Prices Forecasts and Predictions to 3/8/07
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