According to figures released today house prices rose by 0.6% in June and are 0.8% higher than this time last year.
The Land Registry’s figure for June, is broadly in line with those from the Halifax and Nationwide. However, the annual rise is significantly below the other two surveys, which put the increase at 3.7% and 1.9% respectively.
According to the Land Registry, the average house in England and Wales is now worth £162,621, significantly below the figures given by the Halifax and Nationwide.
London leading the pack
The figures show London is showing the largest rise in house prices, up by 6.9% over the past year and by a massive 3.1% in June alone.
In contrast the North East has shown the biggest fall, down by 2.2% over the past month and 3.8% year on year.
Repossession rates falling
The repossession rate has been falling for some months now and April, the latest month for which data is available, was no exception.
According to the Land Registry figures, the number of repossessions fell by 26% in April compared to the same time last year. Again London led the way with a massive 37% drop, although the west Midlands did experience a small, 8%, rise.