Govt house price figures show 10% increase
Property to rent in the London borough of Barking and Dagenham and around the country could be a more attractive idea after new figures revealed that the cost of buying a home in the UK has risen by more than ten per cent.
Data from the Department of Communities and Local Government showed that between April 2009 and April 2010 prices increased by 10.1 per cent, meaning the average abode would set househunters back £207,516.
Over the same 12-month period, valuations in England jumped 10.9 per cent and Wales saw an 11.3 per cent rise, compared with Scotland where homes went up just 2.2 per cent, with Northern Ireland experiencing a drop in prices of almost nine per cent.
There was perhaps worse news for first-time buyers, with figures suggesting that they are paying 12.2 per cent more for a property.
This follows numbers released by Halifax, Nationwide and the Land Registry in recent weeks, which all stated would-be homeowners were facing similar size increases in the cost of purchasing a place.
By Ben Carter
Published 15th June, 2010
© 2010 Estates IT Limited
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More people may be considering looking for property to rent in the London borough of Barking and Dagenham after government figures indicated that house prices have increased by more than ten per cent over a 12-month period.