Insurance News Archive
UK house price inflation 'growing'
House price inflation increased by 1.6 per cent between July and August 2006, according to the latest index released by the Department of Communities and Local Government (DCLG).
Its house price index for August showed that prices for the month of August stood at £197,631, up from £194,454 in July 2006.
Annual inflation in the UK was also on the increase, the index demonstrated, with inflation in August up to 7.7 per cent from six per cent the month previously.
The English region with the highest average price in August remained London at £286,369, meaning that prices in the capital are now on average higher than the inheritance tax threshold.
The north-east was found to be region with the lowest average price, at £142,901.
Commenting on today's figures, Milan Khatri, chief economist at Rics, said that "with the economy growing firmly and households viewing their finances as strong, the housing market will remain robust in the coming months".
09 Oct 2006