House prices up 0.2% in January

There was a 0.2 per cent increase in property prices between December 2010 and January 2011, which may mean that now is the right time to sell your own house.

However, the data from the Land Registry shows that year-on-year, there was a 0.9 decline in the value of property across England and Wales.

London has seen the highest rise in prices over the past year, while the south-west joined it as the region with the highest monthly rise of 1.6 per cent.

In November 2010 - the latest month for which figures are available - the number of completed house sales fell by 12 per cent compared to the same month of 2009.

Chief executive at London Central Portfolio Naomi Heaton recently explained that prime property in the city is likely to be in high demand over the coming months.

She predicted that Kensington, Chelsea and Mayfair would be among the hotspots.

  • Property News from Lawpack: buying or selling your own house? Straight-forward advice on DIY house selling.

Published on: March 1, 2011

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