Average House Price Almost £200,000

Average house prices in England and Wales have risen nearly eight per cent over the last 12 months, according to government figures.

The latest report from the Land Registry reveals that property prices in England and Wales have increased by 7.71 per cent between April and June compared with a year ago - this compares with an increase of 5.43 per cent last year.

This puts the cost of an average home, according to the research, at £199,184.

Property sales across England and Wales are up 23.76 per cent and in Greater London, house prices have increased by 26.69 per cent.

An impressive 1245 properties over £1 million were sold in Greater London compared with 718 for the same period last year.

The Land Registry report compares average prices and volumes of sales with those for the same quarter the previous year and gives a breakdown of the average sale prices of old and new properties by type.

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