House price rises grind to halt

Friday, 26 October 2007 12:00

House prices rose by just 0.4 per cent in September, according official figures.

Land Registry figures for England and Wales reveal the average home is now worth £183,896 - an annual rise of 8.7 per cent.

Greatest rises were recorded in Yorkshire & Humber (two per cent), London (1.3 per cent) and the north-east (1.1 per cent).

However, property price falls were recorded in the West Midlands, the south-west, south-east and the east midlands - all between 0.7 per cent and 0.2 per cent.

Yorkshire's outpacing of London comes despite findings from the Halifax the north/south property price gap is growing.">

However, the annual growth figures from the Land Registry show London prices led the nation, rising 16.5 per cent.

Elsewhere the highest rates of yearly growth were recorded in the south-east (9.7 per cent), the east (nine per cent), Yorkshire & Humber (8.5 per cent) and the north-west (8.3 per cent).

Lowest annual growth was recorded in the West Midlands (4.1 per cent) and the East Midlands (5.1 per cent).

Highest annual price rises were recorded for flats and maisonettes - up 9.6 per cent to an average of £173,824, while terraced houses increased in price by 9.3 per cent to £131,857.

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