Property News · June 14, 2016

Newly launched official house price index shows fall in London


Land Registry’s new measure shows 0.6% increase in UK for April but differs from recent government figures over LondonA new official house price index has been published showing that the average cost of a UK home nudged up by 0.6% in April to reach £209,000. But the government-published index, which replaces those issued by the Land Registry and the Office for National Statistics (ONS), may give some London homeowners a shock. It suggests property values in the capital have fallen dramatically – though this is more likely due to a different way of crunching the numbers.The new single index, covering April, puts the average price of a home in London at £470,025, which it said was 14.5% higher than a year earlier. But this figure bears little relation to the most recent average-price data issued by the two government agencies. Continue reading…

Source : theguardian.com
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