UK average house price overtakes pre-crisis high, says Land Registry

28th Jul 2015 11:54

(ShareCast News) - UK property price trends are on the rise, according to the Land Registry, lifting the average property value in England and Wales during June above the pre-crisis high.With London house prices leading the way, there was a 1.1% rise versus the preceding month and an increase of 5.4% in house prices compared to June 2014.The average house price in England and Wales in June stood at £181,619, overtaking the previous peak of £180,983 set during November 2007, just two months before Northern Rock was taken into state ownership.The most expensive sale in June was in London's St John's Wood for £22.5m, while the cheapest sale was in Grimsby, Lincolnshire for just £9,431.London's 9.2% increase in was the most significant annual price increase among the UK regions, while the lowest annual price increase was in Yorkshire & The Humber, of 1.4%.The North East experienced the greatest monthly rise with a movement of 3%, while nearby Yorkshire & The Humber saw the largest monthly price decrease with a fall of 0.9%.The Land Registry, which is the governmental register of the ownership of land and property in England and Wales, said data on house sales in April showed the number of completed sales in England & Wales decreased by 19%.