House prices decrease further

People looking for the best mortgage rates will be interested to hear that November house prices decreased by 0.6 per cent, compared to October.

The data from the Land Registry found that the average house price in England and Wales has now reached £164,773.

However, in 2010 as a whole the House Price Index shows an annual housing price increase of 2.2 per cent, which many experts believe is a sign that the housing market is beginning to improve.

The region with the highest annual price increase is London, which saw an increase of 6.8 per cent over the year and a 0.4 per cent increase during November.

People looking to access cheap mortgages may be interested to hear that Wales saw the largest price fall, with a movement of -3.4 per cent during November and -3.3 per cent over the year.

The latest figures also show that the number of completed house sales in England and Wales dropped by six per cent from 58,430 in September 2009 to 55,068 in the same month in 2010.
 

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2011-01-04 15:09:06 © Moneyextra.com