Rise in house prices may lead to people finding flats to rent in the London borough of East Finchley
Latest figures showing UK house prices have rose by 8.3 per cent year-on-year in August may lead to people finding flats to rent in the London borough of East Finchley.
The house price index for August 2010, published by Communities and Local Government, revealed August experienced a 0.7 per cent seasonally-adjusted month-on-month rise in the cost of a property.
There was a quarterly increase in UK house prices of 0.8 per cent for the three months to August, which followed a 1.7 per cent seasonally adjusted climb in the previous quarter to May.
Average prices paid by people looking to buy their first property went up by 8.2 per cent year-on-year, while the amount it cost those who had formerly owned a house swelled by 8.3 per cent.
London is the most expensive place to secure an establishment, with the average amount of money being spent on a home there standing at £339,851.
Charles McKay
Published 12th October, 2010
© 2010 Estates IT Limited
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