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Monday, May 20, 2013

Property prices record leap

Rightmoves May House Price Index  shows a 2.1% leap over the month in the average price of a property. The average price of a home in England and Wales is now £249,706, up from £244,706 at the end of April.

This means according to their data the last 12 months has seen a rise of 9.1% (£20,852) on the average home.

Although areas across the country have seen improvement, the upward trends are still strongest in London and the South East.

Miles Shipside of Rightmove commented "Despite a new national record, it’s not ‘green-shoots of recovery’ across the board, especially for the deposit-strapped mass-market. They must wait patiently until January when the Help to Buy scheme extends to the resale market, unless new homes developers can increase building dramatically this year.”

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