House prices have gone up 7.3% so the FT house price index states. This is the highest they have been for 18 months.
The FT index, formed by taking data from the Land Registry as well as other property indexes by Acadametrics, reveals house prices rose 0.7 % in November.
Monthly growth of house prices got stronger in November by 0.7%. This continues a trend that has been growing after quite a weak period of time in the summer.
London has led such a strong performance, followed by the South East. Annual growth of house prices in London has been 12.5%, so Acadametrics calculates.
This is double the growth of other regions, with the south-east being seconding it at 6.6%.
North West England, East Anglia as well as the South West achieved the next highest growth, with annual house price increases of 6%. The East Midlands recorded the weakest growth, with average property values going up 3.3% in the last year.
Other regions across the UK recorded growth of house prices of between 4.5 and 5.5%. High demand as well as low rates of housing turnover and insufficient housing supply continues to drive housing prices in the south throughout 2006.
The recent pick up in the Midlands and the north of England as well as higher mortgage interest rates ought to ease market conditions in these regions until the end of 2006.
The London market remains as strong as ever.
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House Prices at 18 Month High
Fri, 15 Dec 2006
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