Mini Property Boom

Latest data from property website, Rightmove.co.uk, shows that average house prices in London have topped £300,000 for the first time. The figures come against the backdrop of the average asking price nationally up 4.3% against a year ago, taking the new average to £203,399.

THE mini-boom in the property market was confirmed by official figures released today that show house prices continuing to bounce back.

Annual house price inflation jumped to 4.3% in January - compared to 2.9% in December - according to the latest report from the Office of the Deputy Prime Minister.

The Government's house price index continued its robust three-month run of growth after dipping to a nine-year low last October.

Earlier this month, Halifax, Britain's biggest mortgage lender, claimed the balance of power was shifting from buyers to sellers due to a shortage of homes for sale. Its February figures claimed annual house price inflation had risen to 5.5%.

Property still seems to be a solid investment despite the slow market last year.

Author: Nick Seymour

Mini Boom in London property is pushing prices upwards throughout London.

Published on 28/3/2006.

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