House price recovery is London-biased

Published:  02 December, 2009

LONDON: The latest report from housing intelligence group Hometrack showed the average cost of a home in England and Wales increased by 0.2% to £156 700, driven by rising demand.

Prices in London rose by 0.4% and by 0.3% in the South West in November. All other regions saw increases of 0.1% or no change.

Richard Donnell, Hometrack's director of research, said: "The pick up in market activity over 2009 has been driven by rising demand yet the latest survey shows that new buyer registrations grew by just 0.1% in November, the lowest level since the start of the year.

"A decline in demand is inevitable in the run-up to Christmas but there are signs that the upward pressure on prices is likely to decline in the months ahead."

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