30
Nov
Figures show house price rise in October
Figures released by the Land Registry at the end of November have
shown that house prices for the previous month rose by 0.6 per cent
across England and Wales.
This is the fifth consecutive month that the organisation has
reported an increase in property values.
Commenting on the data, Oliver Gilmartin, senior economist at the
Royal Institution of Chartered Surveyors (RICS), said that while
positive, it did not necessarily signal a return to prosperity
across the board.
"There remains a wide variation in the strength of the pricing
recovery between the regions," Mr Gilmartin explained.
He pointed out that house prices in London grew by more than
£4,000 during October, but, by contrast, prices in Wales
dropped by almost £2,000 in the same timeframe.
The Land Registry also noted that, in August this year, the number
of completed house sales rose by 11 per cent compared with the same
time in 2008.
