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Land registry releases house price update

Contrary to the findings of a recent survey, house prices increased in the UK last month.

This is the claim of the latest price index from the Land Registry, which detected a 0.9 increase for England and Wales.

This contradicts recent research from Hometrack, which found that home prices had decreased by 0.3 per cent in January and 0.2 per cent in February.

However, in common with the Land Registry's more positive finding, Hometrack found hope for the market in 2008 - with demand for property showing an increase.

Rising prices signal good news for homeowners, as a strong market makes it easier to remortgage properties.

Regional variations were found by the Land Registry research, with a two per cent increase in the north-west counterbalanced by a 0.3 per cent fall in Wales.

Price growth in London also continues to outstrip the rest of the country - with a 13 per cent annual inflation rate maintained for January.

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