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Rate of UK house prices rockets once again due to increase in London and south east


After a sedate summer, the year-on-year rate of increase rises to 5.2%, the biggest since April, according to Your Move and Reeds Rains.


Britain's house prices are on the rise once again.

You’d better get out the chequebook soon if you’re hunting for a house – the rate of house price growth is beginning to accelerate.

The annual rate of house price growth across England and Wales has climbed to a haunting 5.2% up to the haloween period, the fastest increase since April 2015, according to research from the Your Move Reeds Rains England and Wales House Price Index .

Average property prices jumped by £2,500 in October – equal to £80 a day – to reach their tenth record high this year.

Price revival driven has been driven by London , as values in the city rose £24,636 in the last year – equal to 75% of a typical Londoners salary.

But sales of homes worth more than £1.5 million down 35% year-on-year, as steeper Stamp Duty continues to bite.

Director of Reeds Rains and Your Move estate agents Adrian Gill, said: “There has been something of a Halloween resurrection in house prices this October, as annual growth finally comes back to life.

“House prices across England and Wales are now 5.2% higher than a year ago – an uptick from 4.7% in the twelve months to September. As growth jolts back into action, this is the fastest annual rise in house prices recorded for six months, since April.

“This reawakening of price growth has been driven by London and the South East, the fastest growing regions across England and Wales. East Anglia has experienced the strongest year-on-year rise of any region, with a 6.2% annual increase in house prices taking the average price for a property in the area to £241,284.

“We will need the current revival to storm through the remaining two months of the year, if we are going to match 2014 sales.”

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