London leads as house prices rise 0.5%

It says this is the fourth consecutive month of house price growth and the highest monthly rise since the summer of 2004, with the London housing market leading growth nationally. The national average house price now stands at £162,500, it adds. “A resurgent market in London, where prices grew by 1.1%, has put something of a gloss on the headline results,” Richard Donnell, director of research at Hometrack says. “Whilst prices moved 0.4% higher in the South-West, East Anglia and the South-East, growth in all other regions has been far more limited” he adds. Donnell says the differenc...