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Land Registry: Average house price £169,569 - official

Wednesday, 1 November 2006 12:00 AM

The average house price in England and Wales reached £169,569 in September, figures from the Land Registry show.

In its new official monthly regional house price index, the Land Registry reveals that house prices went up 1.3 per cent in September, the first time monthly price growth was over one per cent for two years.

In the 12 months leading up to September, house prices have risen 6.3 per cent, the highest growth rate since June 2005, and a sign that across England and Wales, the market is going strong.

However, closer analysis of the regional breakdown shows London leading inflation in September, and some regions remaining static or dropping over the same period.

Whereas London's two per cent increase was one of the highest, and the south-east and Yorkshire and the Humber also had strong rises of over one per cent, house prices in the north-east dropped two per cent in September.

At county and unitary authority level, the Land Registry survey shows three Welsh counties have the fastest monthly growth, Denbighshire, Powys and Newport rising over three per cent in October.

At the other end of the scale, house prices in Darlington dropped the most, falling 2.5 per cent during September, and prices in Essex, Leicester, Blackpool, York, Northumberland, Devon, Staffordshire, Warrington and Thurrock all had no monthly price movement.

The survey also shows widespread differences across London's boroughs, with Newham registering the highest monthly rise, up 3.5 per cent in September, and prices in Barking and Dagenham experiencing the smallest increase, at 0.9 per cent.

There was also downward movement in Greater London, with Havering, Sutton, Enfield, Brent and Croydon dropping between 0.1 per cent and 0.5 per cent.

For the full report see www.landregistry.gov.uk

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