Friday 27th July 2007
Average property prices in London have exceeded £300,000 in the Land Registrys June 2007 House Price Index.
The figure reflects that determined by Halifax in the financial services providers calculations for the second quarter of 2007.
According to the Land Registry, the average price in the capital is now £338,950, up 15.8 per cent year-on-year.
This is almost double the national average of £181,039, based on the same criteria when applied across all regions.
"There is evidence of increased growth rate divergence between London and the rest of the country, however across England and Wales as a whole, growth remains positive," the report states.
Nationally the average increase in property prices was found to be 9.1 per cent in the past 12 months.
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