| 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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