Property value rises 7 per cent

The average property value in England and Wales has seen an annual price rise of almost seven per cent to £172, 035, compared with the peak of £181,518 in November 2007, according to new figures.

London saw the largest yearly increase in average property value with a movement of 18.5 per cent, while the North East saw the lowest annual price growth of 0.9 per cent.

The Land Registry’s May House Price Index showed that from April to May average house prices rose by 0.4 per cent, showing the rise in prices continues to steady.

Figures also show that during March 2014 the number of completed house sales in England & Wales increased by 16 per cent to 63,587 compared with 54,708 in March 2013.

Today's Conveyancer