London house prices rise by 7.3%

The value of the average home in Britain has risen by £3,373 over the last 12 months, according to new figures from property website Zoopla.co.uk.

The average home value across the country is now £226,369, slightly down on three months ago.

The increase in property values over the past year was evident in all but three regions of Britain, the North West, (down 2.5%), Wales (down 1.4%) and Yorkshire and The Humber (down 0.55%).

Property prices in London and the south east continued to rise at a far faster pace than the rest of Britain over the past year. The average property value in the capital rose by £30,259 (7.3%) while the South East saw a 3.4% increase in average values.

“It’s been a relatively flat but stable year for house prices,” said Lawrence Hall of Zoopla.co.uk, “with most parts of the country seeing modest growth. London, however, continues to pull away from the rest of the market and has experienced strong growth again over the past year.”

See full story and detailed figures at theindependent.co.uk

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One thought on “London house prices rise by 7.3%

  1. Just goes to show that the UK right now is a buyers market, and theres almost like a stand off right now in how long do investors in property leave it before they fully commit and miss the boat, i.e. house prices creep up to far to foresee any investment as being profitable in the future.

    BUY BUY BUY is what I say right now! 🙂

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