London and Brighton lead growth

House price growth in England and Wales remained positive for April 2007, the Land Registry has said.

The April data reported that the current rate of increase for London house prices is over six per cent per annum greater than that of England and Wales as a whole. This is the largest divergence in the last two years, when London lagged behind the rest of the country by approximately six per cent. The divide in annual growth between London and England & Wales has averaged 3.6 per cent over the last six months.

The average price for Greater London in April 2007 stands at £333,785 whereas the average price for England and Wales is £179,935.

Key regional observations
— All regions in England and Wales experienced average price increases over the last twelve months.
— The region with the highest annual price change is London with an increase of 15.6 per cent.
— The region with the lowest annual price rise is the East Midlands, with an increase of 6.0 per cent.
— London experienced the highest monthly change, with an increase of 2.3 per cent.
— Yorkshire and the Humber experienced the largest negative price movement this month with a change of -1.1 per cent.

Average Cost of Property:
Detached - £270,320
Semi-detached - £169,451
Terraced - £140,462
Flat/maisonette - £169,307
All - £179,935

Sales
In the months November 2006 to February 2007, transaction volumes averaged 96,994 transactions per month. This is an increase from the same
period last year when sales volumes averaged 88,069.

Meanwhile, the number of properties sold in England and Wales for over £1 million increased 48 per cent between February 2006 and February 2007, from 293 to 435.
The number of properties sold in London for over £1 million also increased by 48 per cent between February 2006 and February 2007, from 183 to 271.

House Prices by Region
London - £333,785
Wales - £140,808
South East - £221,173
East - £188,077
East Midlands - £144,378
West Midlands - £152,258
North East - £128,687
South West - £190,710
North West - £135,062
Yorkshire & The Humber - £142,591