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Last updated: January 14, 2014 1:15 pm
Average UK house prices rose by £1,348 in January, compared to the same month a year earlier, according to the LSL Property Services/Acadata House Price Index.
The average UK house price was £241,101, showing an annual increase of 5.2 per cent and a monthly change of 0.6 per cent.
David Newnes, director of LSL Property Services plc, owner of Your Move and Reeds Rains estate agents, said: “The UK housing market is roaring back to life in 2014 as the recovery continues across the board. Prices are now up 5.2 per cent annually, driving the price for the average home to a new high.
“Mostly this is due to much increased activity, with growing demand for property buoyed by low interest rates and Help to Buy, combined with hot competition for homes. This boost in sales has seen an air of optimism encapsulate the market. While 2013 was a turning point in the recovery, 2014 is set to be a watershed year if the next few months continue in the same vein.
“Regionally, we’re seeing a ripple effect emerging from London. Heat from the capital is spreading further with traditional hotspots being the first to reap the benefits of recovery, particularly southern England and East Anglia before moving north through the Midlands. Although we’re still seeing a North-South divide, this is gradually being eroded. The West Midlands has this month broken the mould, as growth has surged past the rate seen in the South West region”
|Average house price||Index||Monthly%||Annual%|
|Source: LSL Acadametrics|
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