Semi-detached Homes Drive Property Price Rise

The value of semis rose by 5.6% over the year, the Land Registry figures show, ahead of flats (up 5.4%) and detached homes (up 5.1%).

Overall, property prices increased by 5.1% over the year and by 0.9% from March to April.

The average home was valued at £179,817, the Land Registry said.

Prices rose the fastest in London over the year, up 10.9%, and in the South East of England, up 8.8%.

The slowest annual property price growth was in Wales, up 0.3%. Prices in Wales fell by 1.1% in April compared with March.

 

 

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The pace of property price rises generally has slowed, although the picture features significant regional differences.

"The property market in Wales and the North East [of England] is a million miles away from the south-east corner of England," said Jonathan Samuels, chief executive of Dragonfly Property Finance.

"The broader fall in the number of property transactions over the last year suggests a natural slowdown in the property market after a period of exuberance."