Land Registry records 13.5% house price growth

The average house price in England and Wales is now £133,247, reveals latest quarterly figures from the Land Registry. This is a rise of 13.5% on the comparable 2001 price of £117,398.

The price report covers the period April to June 2002, and compares average prices and volume of sales with those for the same period in 2001.

The report shows an increase in average prices across all economic regions of England and Wales. The volume of sales increased by 10.06% from 266,536 in 2001 to 293,352 for the same period in 2002.

In greater London average property price increased by 13.12% from £205,831 in 2001 to £232,830 for the same period in 2002. The volume of sales increased by 9.24% from 35,410 in 2001 to 38,681 for the same period in 2002, and 506 properties over £1m were sold.