House prices in England and Wales
House prices in England and Wales rose by 0.5% in August to reach an average of £184,682, according to the latest figures from the Land Registry.
The Land Registry figures, which are based on completed sales registered during the month (not including new-build homes), showed annual price rises in all regions of England and Wales.
House prices in London
The August data for London shows a monthly increase of 1.7 per cent. Over the past year, the average cost of a home in London has risen by £30,000 to £493,026, and in the rest of the south-east prices have gone up by £18,000 to an average of £254,658.
London and the south-east housing market recorded the largest leaps, with prices up by 6.6% and 7.6% respectively.
Key London borough observations
- The borough with the highest annual price rise is Newham, with a movement of 15.5 per cent.
- Barking and Dagenham experienced the highest monthly price increase, with a movement of 2.2 per cent.
- Camden saw the largest annual fall of 1.7 per cent.
- Kensington and Chelsea experienced the greatest monthly fall with a movement of -1.1 per cent.
The number of properties sold in London for over £1 million in June 2015 decreased by 22 per cent to 674 from 864 in June 2014.
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