Written on 7 October 2014 by Alistair Boscawen in Property News
London homeowners saw their property’s worth increase by £12,279 in August.
Official house price sales soared in August, with the average property increasing by £1,761 – up by one percent over the month, according to the Land Registry. London reaped the most benefits from the boom – with the average price now £467,070 – up by 2.7 percent in August.
Despite the UK capital’s property market is still going, concerns remain over the political and economic situation. These include Ed Miliband’s announcement of plans for a Mansion Tax for properties over £2m at the Labour Party conference. And some say a squeeze on lending will slow the market down.
The Land Registry numbers are based on actual house price sales – and are generally viewed as a good measure of where the market is. News from other indices has been more mixed – although there are still strong indications that prices will continue to rise.
There was an average of 59,556 sales per month from March to June 2013. In the same months a year later, the figure was 71,426.
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