LETTING & ESTATE AGENT

Understanding the house price contradiction

Understanding the house price contradiction

House prices are going up - there is no doubt about that.

But how much and where depends on the data looked at.

Last week Land Registry issued its November data showing an annual price increase of 3.2%, which takes the average property value in England and Wales to £165,411.

The monthly change from October to November shows an increase of 0.1%.

Repossession volumes decreased by 23% in September 2013 to 1036 compared with 1337 in September 2012.

In contrast to the latest data from Nationwide which saw Manchester house prices surge 21% in a year, Land Registry said the region in England and Wales which experienced the greatest increase in its average property value over the last 12 months was London with a movement of 10.6%.

So why is there such variation?

Largely it depends on the data sampled and the specifics of the city or region looked at - the borders can vary and as such results can appear skewed.

This will still jar with many but perhaps is the only way to really gets to grips with this data disparity.