Lamport Bassitt Solicitors - Legal News - House prices rise year-on-year


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS House prices rise year-on-year Residential property conveyancing may have taken a knock in December, but house prices appear to be firming up well. The Land Registry's flagship house price index reveals that while values dropped 0.2 per cent between November and December, the average cost of a home is still 1.5 per cent higher than a year ago. According to the figures, the average price of a home now stands at £163,814, with London leading the increase in values. Prices in the capital have risen by 6.2 per cent in the last year, while the north-east has seen values drop by 3.3 per cent. Meanwhile, the most up-to-date figures show that the number of house purchase completions has fallen significantly in the last year. October 2010 saw 55,964 deals, down by 15 per cent on the 65,736 in the same month of 2009. The news comes after the Council of Mortgage Lenders reported that house purchase lending in December 2010 was the lowest for the month since 2000. Posted by Gaby Hamerton Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings More Individual Legal Services News