Insurance News Archive
Property insurance holders see prices fall by 0.3%
Posted by Michael Brown
Property insurance policyholders saw house prices fall by 0.3 per cent month-on-month in February, according to official figures.
The Land Registry's flagship index showed that the average house price in England and Wales stood at £164,455 last month, which represents an annual increase of seven per cent.
London experienced the biggest year-on-year increase, according to the index, with values rising by 11.9 per cent.
Property insurance policyholders in the north-west enjoyed the biggest monthly rise, with house prices improving by 3.6 per cent.
Other figures from the Land Registry showed that the number of completed house sales during December 2009 rose by 89 per cent compared to the same month in 2008.
The latest Nationwide House Price Index showed that values fell by one per cent month-on-month in February, with the average price of a property sold in the UK standing at £161,320.
This represented an annual rise of 9.2 per cent.
29 Mar 2010
