London ‘distorting house price trends’

Trends in house prices that have seen more expensive homes gain in value while the cheapest fall may be down to a ‘London’ effect, an expert has suggested.

Director of property information provider director at Mouseprice Selwyn Lim said the contradictory changes in June might be explained by the fact that London is seeing larger price rises than elsewhere.

He commented: “Bearing in mind that London property is on average a lot more than the rest of the country, that could possibly be behind the discrepancy.”

Looking across the capital, it is clear that there has been “some price recovery” in recent months, Mr Lim observed.

Land Registry figures for England and Wales showed that London values increased by two per cent, compared with a 0.1 per cent increase overall.

The Chesterton Poll of Polls recorded the same level of upward movement in England and Wales as a whole, with London rising by 0.4 per cent.

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