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You'll never guess what: House prices skyrocket again

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You'll never guess what: House prices skyrocket again

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Published by Max Salsbury for 24dash.com in Housing and also in Finance

You'll never guess what: House prices are on the rise again You'll never guess what: House prices are on the rise again

Average house prices in England and Wales have soared by a ridiculous 9.6% in the last year, or, put another way, would-be homeowners have to find another £23,443 if they want somewhere to call their own.

However, when London is taken out of the equation, average prices have risen by a slightly more palatable 5.2%.

In even better news, if that's what it is, prices cooled somewhat in June, with growth dropping to 0.7% across the country, or a mere 0.1% when mega-rich London is once again removed from the sum.

Regarded on its own, the phenomenon that is London, where prices are firmly out of control, has seen prices shoot up 15.6% in the last year - though feel the pain for Westminster and the City where costs seem to be falling.

The average price of a house in England and Wales now stands at (are you sitting down?) £268,637.

With all of the figures having been supplied by the good folk at LSL Property Services, David Newnes, director of Reeds Rains and Your Move estate agents, which is owned by LSL, had plenty to say: "...the highest annual rise in house prices experienced since July 2010...setting a new record high of £268,637...growth is beginning to slow as we move into summer, and following the changes brought about by the Mortgage Market Review implemented at the end of April."

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