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09 May 2006
The number of house sales in England and Wales shot up by over a third in the first three months of this year.
Around 218,770 house sales were reported in the period, 37.49 per cent more sales than for the same period last year, as activity in the market increased, revealed figures from the Land Registry.
Unsurprisingly, house prices rose as well, with the average house price in England and Wales hitting £192,745, an increase of 5.05 per cent from last year's price of £183,486. However, this was still much lower than last year's increase of 10.27 per cent.
Average property prices in Greater London rose even further, gaining 6.29 per cent on the same time in 2005 to reach £306,661 this year.
However, the greatest rise in house prices occurred in the North, with prices rising by 8.15 per cent to £129,332 and the smallest rise in prices happening in the East Midlands, with average house prices increasing by only 0.68 per cent to £150,502.
If a rise in house prices affects you and your financial commitments, order your credit report now to see where you stand.
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