House prices in England and Wales up 3.5% year on year

england-propertyHouse prices across England and Wales were leveled in September which is now up 3.5% year on year. The average price of a home is now almost £10,000 more but some regions are seeing strong annual growth while prime property in London has recorded the biggest slowdown. According to Your Move data, London had the average price fell month on month by 0.6% while prices were down by 0.3% in Wales. Fall in transaction in September on compared with the previous months was considered due to the summer holidays.

Adrian Gill, director of Your Move estate agents, says: “Two speed market become firmly established as cheaper parts of the capital and the regions record price increases while prime London property pauses. At the same time transaction levels are showing how much the market has changed, with the number of properties now held by private landlords changing market dynamics.”

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