Positive housing market figures

There was positive news for the English and Welsh housing market in January, according to the latest figures.

The Land Registry has published its housing report for the month, revealing that prices increased by 0.9 per cent between December and January.

That took the average property price to £186,045, with annual price inflation recorded as 6.4 per cent.

According to the report, the largest monthly house price increase was seen in the north-west, where a typical property increased in value by two per cent.

London and the East Midlands followed, with both regions witnessing monthly price increases of 1.5 per cent.

As expected, the capital achieved the highest annual rate of growth, with prices rising by 13.1 per cent, well above the national average.

Flats and maisonettes once again proved popular, with the average property of this type increasing in value by 7.6 per cent month-on-month.

This was followed by terraced properties (6.8 per cent), semi-detached homes (5.8 per cent) and detached houses (4.4 per cent).

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