Land Registry: House price growth calms in November
Tuesday, 2 January 2007 12:00 AM
House prices "continued to rise steadily" going up 0.6 per cent in November, official government figures reveal.
Data from the Land Registry out today finds the average property in England and Wales cost £172,006 in November, going up 6.8 per cent in the 12 months since November 2005.
"After robust growth in September and October, the November monthly growth rate reflects a calmer market," the Land Registry states.
"However, the growth rate remains firmly positive. The November monthly growth rate of 0.6 per cent is approximately twice the size of the average monthly growth in 2005."
The new figures also show prices in London dropped 0.6 per cent in November, making it one of just two regions where prices dropped along with Yorkshire and the Humber, where prices fell 1.5 per cent.
"After six months of outperforming the rest of the country, house price growth in London has shown a slight weakening," said the Land Registry report.
"Nevertheless, London prices have increased more than England and Wales over the last 12 months. London's annual growth this month is 7.8 per cent compared with the 6.8 per cent increase of England and Wales as a whole."
The region with the largest price growth in November was the West Midlands, up two per cent, taking its annual property price to £149,096, up 5.7 per cent since November 2005.
Out of England and Wales' counties, Neath Port Talbot had the highest annual price change, going up 13.1 per cent in 12 months.
Other areas experiencing annual house price growth over ten per cent were Blackburn with Darwen, Brighton and Hove, and Middlesbrough and Torfaen.
The City of Nottingham and Ceredigion in mid-Wales were the only two areas of England and Wales where the average price of a home had dropped, going down 1.3 per cent and 0.3 per cent respectively since November 2005.
The full report can be found at www.landreg.gov.uk
-
Tags:
- uk property news
