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House price growth tops 7% in north-west

11/06/2007


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North-west house prices have grown by an average of 7.3 per cent in the past 12 months, according to the latest FT House Price Index.

Between April and May, house prices in the region rose by 0.7 per cent, bringing the average cost of a home to £164,134.

Peter Williams of Acadametrics, which conducted the research on behalf of the FT, said that the finings demonstrated a "broad picture of stability".

However, he noted that house price inflation varied significantly depending on the region.

With the exception of the north-west, London and the south-west, house prices in England and Wales either stagnated or fell, the index shows.

However, when taken as a whole, house prices in England and Wales grew by 0.5 and 8.5 per cent over the month and year respectively.

According to the Land Registry, north-west house price growth over the past year rose by 9.1 per cent, although this dropped to 7.9 per cent in Greater Manchester.

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