28 July 2010

The value of property in England and Wales has returned to levels last seen in the summer of 2006, according to figures released by the Land Registry. House prices rose by 0.1% in June, taking the average cost up to £166,072.

This figure is 8.4% more than seen this time last year, as the market experiences the eighth consecutive monthly rise in year-on-year prices. All regions are said to have witnessed average prices rise in the year leading up to June.

The largest rise has been seen in London, reaching 12.2%, with the North East the lowest at a 0.7% rise.

Statistics released by the HM Revenue and Customs has reported that the number of homes sold in the UK rose to 86,000 in June from May, a 21% increase. This is the highest figure seen this year and is 15% higher than June 2009.

Source: BBC News

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