House price growth blow for FTBs

People seeking their first mortgage have suffered a blow with the news that house prices continued to rise in September.

Figures from the Land Registry, published in its House Price Index, show that month-on-month growth reached 0.4 per cent.

It puts the average property price in England and Wales at £183,896 with first time buyers (FTBs) still struggling most to get onto the property ladder in London.

The capital city saw prices grow by 1.3 per cent month-on-month, with an annual increase of 16.5 per cent (the highest in the survey) taking the average price to £354,272.

London was not the best performing region when it came to monthly growth however, with Yorkshire and Humberside recording a growth figure of two per cent.

Across the whole of England and Wales, flats and maisonettes saw the largest annual growth of 9.6 per cent.

Semi-detached properties saw the worst growth, with the Land Registry reporting growth of just 7.3 per cent in the year leading to September 2007.

Related Articles