North leads the way as property prices keep on soaring

Land Registry figures see sales up by a quarter

Average cost in England and Wales is £199,184

Property prices rose at their strongest rate since the beginning of 2005 in the latest quarter, increased by 7.7% from a year ago, while the number of sales was up by almost a quarter, the Land Registry reports today.

The renewed strength in house prices this year is thought by economists to be a significant reason behind the Bank of England's interest rate rise last week which took the base rate up to 4.75%.

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