The average
value of a home in England
and Wales
rose 0.8% to 280,733 pounds (S$578,300) in November, the 17th consecutive month
of increases, the groups said today. That’s the most since more than two years
of gains through October 2007.
The report
indicates that London ’s
priciest districts are regaining momentum after the Bank of England put limits
on riskier mortgage lending in June and speculation about the introduction of a
so-called mansion tax damped demand. The LSL data contrast with other housing
reports, with the Royal Institution of Chartered Surveyors saying
yesterday that London ’s property market is still
weakening.
From a year
earlier, U.K.
house prices increased 11.3% in November. Excluding London and the surrounding southeast, national
values climbed 5.7%, with the gap between that measure and the overall gain the
largest on record.
“These figures
are spurred on by London
and the southeast, where the housing recovery has been fast-tracked,” said
David Newnes, a director of an LSL unit. “After a temporary hiatus at the
highest tiers of the property market, growth has rallied again in the capital.”
In October, the
most recent month with detailed data for the capital, London house prices advanced 1.9% on the
month and 19.7% on the year. Values in the affluent borough of Kensington and
Chelsea surged 5.3% on the month, while the City of Westminster saw a 4.2% increase.
Source: Bloomberg
So
it all depends on who you ask and more importantly, choose to believe...
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