House prices show annual 8.4 per cent rise

House values increased by 0.1 per cent in June, according to the latest data.

Land Registry's monthly house price index revealed an overall 8.4 per cent rise on this time last year.

June is the eighth month in a row where the annual figure has risen.

The average cost of a home in England and Wales is now GBP 166,072.

Regions with growth above the national average include Wales, with 2.9 per cent and the East Midlands with 1.2 per cent.

Growth in London slowed down, with the average house value rising by 0.5 per cent.

However, the capital remains the best overall performer on house values, with growth up 12.2 per cent over the past 12 months.

Prices in the north-east showed a minimal increase of 0.7 per cent over the same period.

Posted by Luella Ravelin

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