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28th November 2006 16:57
The housing market continued to demonstrate significant
growth during October, according to the latest figures
published by Land Registry.
House prices in England and Wales rose by an average of 1.2
per cent compared to the previous month, while the annual rate
of growth reached seven per cent.
However, Land Registry states that price increases within the
market are being "driven" by the strength of property in
London and the south-east, where the annual rate of house
price growth was above the rest of the country for the eighth
month in a row.
"This apparent return to increased house price inflation
contrasts with the relatively flat growth exhibited over the
last two years," Land Registry states.
Commenting on the housing market earlier in the month, Milan
Khatri, chief economist at the Royal Institution of Chartered
Surveyors, said that considering the present strength of the
economy, it would take "several rounds" of interest rate
increases to slowdown the housing market.
Source:http://www.londonstockexchange.com/en-gb/pricesnews/investnews/article.htm?wbc_purpose=Basic?wbc_purpose?ArticleID=17995305
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