30-08-2007
Land Registry figures show slow growth in property prices
July property prices grew at the lowest rate since June 2006, new figures suggest.
According to data released by the Land Registry, across England and Wales the cost of housing increased at a rate of just 0.1 per cent last month.
"The number of new buyer enquiries has fallen for eight months in a row and the amount of stock on estate agents' books has risen every month since March," said David Stubbs, senior economist for the Royal Institution of Chartered Surveyors.
"The housing slowdown continues to accelerate as homeowners and prospective buyers deal with the impact of five interest rate increases since last August," he added.
In Wales and England the average price of a property is now £181,460; although in London, with house price growth of one per cent last month, the average cost of a property has reached £342,936.
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