House prices back to 2006 levels
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The average house price in December has risen to £214,283, the same as it was in December three years ago.
Acadametrics and the Financial Times, which produce the only index based on actual transaction prices rather than valuations or asking prices, found that house prices in England and Wales rose 0.8% in December.
This is the eighth month in a row where the FT house price index has risen, although Acadametrics notes that this rate is slowing.
Average house prices are up 4.2% on the levels recorded in December 2008.
Dr Peter Williams, chairman of Acadametrics, says that although the signs point to a well-entrenched recovery, there are wide fluctuations in house prices up and down the country.
He says: “This does underline the considerable uncertainty which exists as to the likely trend of house prices in 2010.”
In the North and in Wales the average increase in the number of houses sold has been 19% or less, while in the Midlands the increase has been between 23% and 27%.
But it is the South where there has been the biggest upturn in transactions.
In Southern regions, including London, the number of homes sold has gone up by between 38% and 49%.
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