Wednesday 28 December 2011

House prices rise in eight of 11 UK regions - FTAdviser.com

House prices rise in eight of 11 UK regions - FTAdviser.com

Property prices in the West Midlands rose by more than 15 per cent to £186,633 over the 12 months to November 2011, making it the region with the most significant increase overall, data from SmartNewHomes’ house price index has shown.

The average asking price of a new home in November in England, Wales and Scotland was £224,298, up 0.8 per cent from the figure in October.

This is the second consecutive monthly increase recorded on the index, with prices now up 1.3 per cent over the past three months. The data show, however, that annual growth has fallen back from a peak of five per cent in October to a more “sustainable” 1.7 per cent.

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