Land Registry figures depict that house price growth is at a two year high.
The government agency records sale prices of each home which is bought or sold in England and Wales . In March alone house prices went up 1%.
The average property price in March was £178,423, 8.3% higher than in March 2006.
March data shows one of the highest increases in two years. The annual price change in March 2006 was 4.3%, approximately half the 8.3% annual price change in March 2007.
London is at the forefront of house price changes, where annual house price growth is 3% higher than the England and Wales average.
The gap between London house prices and elsewhere is increasing, with London prices going up much faster than the English and Welsh average over the last six months.
The average London price in March 2007 was £323,511, practically double the average price for the rest of the UK.
Within London, Kensington and Chelsea saw prices rise the quickest at 19.8% p.a. compared with Newham, which saw the lowest price rise at 3.3%.
Brent house prices in March went up fastest at 2.6%, with Lambeth house prices performing the worst , decreasing by 0.4%.
Beyond London, Brighton and Hove experienced the greatest annual price change with an increase of 14.7%.
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House Prices At Two Year High
Thu, 03 May 2007
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