Land Registry: House prices up 7.2% nationally according to latest figures

September data released from the Land Registry has shown a 7.2% increase in average prices but also that growth in the UK housing market is relaxing.

The key findings are that average house price in England & Wales are now £177,299, compared with a peak of £181,324 in November 2007. London experienced the highest annual increase in property value with a movement of 18.4 per cent. Yorkshire & the Humber saw the lowest annual price growth of 1.4 per cent.

Monthly house prices are down 0.2 per cent since August and there were 863 repossessions in England & Wales during July 2014.

More than 93,350 residential properties in England & Wales lodged for registration in September.

The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 18.4 per cent.