• From The BBC:

    House prices in England and Wales rose by 1.7% in July compared with June – the biggest monthly leap in value since July 2004, the Land Registry said.Every region recorded a monthly rise in prices, with the average home valued at £155,885, the analysis found. But prices were still 11.7% lower in July than they were in the same month a year earlier and sales were also down. The annual drop in prices was sharpest in the North East of England but at its most shallow in Wales. The Land Registry, which records all completed property sales in England and Wales, is widely regarded as producing one of the most authoritative house price reports, although it does lag behind data from lenders. It compares the price of properties sold now with the price paid when they were sold previously. However, repossessions and property transfers following a divorce are excluded from the sample. Slowing rateThe annual fall in prices eased in July compared with June, when the year-on-year drop stood at 1…

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    Posted by Jon @ 7:31 pm

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