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North-west house prices up more than 7%
14/05/2007
Average house prices in the north-west increased by 7.1 per cent over the past 12 months, new data has revealed.
According to the latest Financial Times House Price Index, this represents the fifth largest annual rate of house price growth in England and Wales.
Over the past quarter, north-west house prices grew by 6.6 per cent, bringing the average price of a home in the region to £161,473.
Peter Williams, chairman of Acadametrics, which compiled the index, said: "House price increases have slowed and flattened out.
"This has been our view for a number of months and most of the other indices are now indicating similar trends."
In England and Wales as a whole, year-on-year house price inflation in April remained unchanged at 8.4 per cent.
Last Thursday, the Bank of England raised interest rates by 0.25 per cent, which means monthly mortgage payments will go up for many households.
© Adfero Ltd
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