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Central London boroughs see biggest price rises

Tuesday, 3 January 2012 9:15 AM

House prices fell 1.9 per cent in the year to November 2011, according to the Land Registry.

The agency, which claims to produce the most accurate barometer of the housing market, said prices rose 0.3 per cent over the month over the month but the annual rate has been in negative territory since December 2010.

As in other house price indices, the only region to buck the trend was London, with house prices up 0.8 per cent in November and 1.4 per cent over the last 12 months. In contrast, the biggest falls over the year were seen in the North East (-5.4 per cent) and North West (-4.8 per cent).

Three local authority districts saw double digit price falls over the year, with Hartlepool (-19.8 per cent) beating Oldham (-13.9 per cent) and Hull (-10.7 per cent).

The only local authority districts to see house prices rise by more than retail price inflation were all in London. Westminster saw 7.1 per cent growth, followed by Hammersmith & Fulham (6.5 per cent), Kensington (5.8 per cent) and Islington (5.6 per cent).

Land Registry figures also show that there were 61,031 home sales in England and Wales in September 2011, a rise of six per cent on September 2011.

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