Tuesday, December 12, 2006
Category:
Property
Fresh information from the Land Registry's latest residential property price report has shown the average house price in England and Wales increase to just under £200,000.
The report covered the period from April to June 2006 and revealed the average price of a property in England and Wales was £199,184 – an annual increase of 7.71% and more than the 5.43% increase for the same period in the previous year.
And it is not just house prices which are increasing as the level of property sales is rising too. Sales of houses in the Greater London area increased by 26.69% while sales across England and Wales were up by 23.76% compared to the same period in the previous year.
In total, the volume of sales between April and June in England and Wales rose from 216,890 in 2005 to 268,430 for the corresponding period in 2006 – Greater London saw sales of 26,249 for the same period in 2005 compared to 33,254 in 2006.
With property prices surging higher than the previous year and the volume of sales in England and Wales and Greater London showing healthy increases, many homeowners will be tempted to sell their properties. As ensuring one receives the top market value for a property is a priority for most homeowners, many opt to carry out important
home improvements before the selling process. A secured homeowner loan could allow property owners to undertake important improvements to their home – such as a garden revamp, or redecorating which could add important market value.
