House prices 'jump during 2010'
Property professionals
1st March 2010
The average price of a home in England and Wales increased by 2.1 per cent in January compared with the last month of 2009, new figures show.
Data from the Land Registry reveals that the cost of an average house has risen to £165,088, growing by 5.2 per cent year-on-year.
According to the body's House Price Index, values have jumped in seven regions of the country during the past 12 months, with London witnessing an annual price expansion of 10.5 per cent and a monthly leap of 3.9 per cent between December and January.
The same statistics indicate that the number of completed house sales increased in England and Wales by 54 per cent in November 2009 to 55,715 compared with the same month of 2008.
Property professionals seeking insurance for buildings may also be interested to learn that Pricket & Ellis director Nigel Ellis has declared that shortages in the market for properties worth £600,000 and more are driving up prices.
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