The latest issue of the Land Registry Report became available on the last day of May and showed another positive month for the UK market.
The average price of a house in England and Wales is now £172,069, up 6.7% in the last 12 months.
This positive news is backed up by the increase in transactions and also the reduction in repossessions.
Mike Shelton, Director at Martin & Co Reading Caversham, added "I take a keen look at the land registry report as it is the only true representation of what is going on. The news is generally positive on a national level, but closer to home is looking good too. Our area of Reading has seen an increase of 7.1% over the previous 12 months, which together with Wokingham seeing an increase of 7.6%, is obviously good news.
I genuinely think the market is starting to show a stable recovery and over the next 12-24 months we will see the confidence back to where we were in the mid 2000's."
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