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Quick House Sale Guide >> House Sale News >> London Drives Up UK House Prices
London Drives Up UK House Prices
The strength of the housing market in London is having a significant knock on effect in surrounding commuter areas, which in turn has an effect on house prices further a field.
The average price of a property in England and Wales has reached around £173,000 but this figure is distorted due to the robust housing market in London.
Despite several rises in interest rates since August 2006 the annual rate of inflation has risen to 6.7%, the highest since June 2003. This rise is largely due to the London housing market and the effect it has on the UK market as a whole. House prices rose by an average of 1.8% in London in March.
The strongest growth outside the capital was reported as being in the counties of Berkshire, Buckinghamshire, Hertfordshire, Kent, Suffolk, and Surrey.
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