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Monday, March 13, 2017

A strong start to the year for property prices

House prices grew at their fastest pace for a year during the month of February according to agents,  LSL Property Services.

LSL agents saw average prices across England and Wales increase by 0.6% in February, double the rate they recorded in January. 

The East of England,  Merseyside and Birmingham performed best. 

The average property price in England and Wales now sits at £297,832 according to LSL's data.

Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents  (part of LSL), comments: 

“It’s an encouraging start to 2017. We’ve seen the strongest house price growth in a year, the emergence of the promised Northern Powerhouse and the first tentative signs of a recovery in our highest priced properties in London.

The good news too is that the number of first time buyers grew last year and house building was up – although home ownership is now at its lowest level in over three decades." 

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