Residential property prices in England and Wales have reached a five year high, according to the latest land registry figures with others reporting a strong demand for prime real estate in London.
The Land Registry, which records all completed property transactions and is widely regarded as producing one of the most authoritative house price reports, says that prices increased 1.7% in July, the strongest monthly growth since July 2004.
It compares the price of properties sold now with the price paid when they were sold previously. But it does lag behind data from lenders and repossessions and property transfers following a divorce are excluded.
