Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point
On Air
Low Graphics

Wednesday, February 24, 1999 Published at 07:36 GMT

Business: The Economy

House prices up, sales down

Oldies are out: House buyers prefer new properties

Property prices in England and Wales have risen by 5.88% during the last year, according to figures published by the Land Registry.

At the same time, though, the number of sales dropped sharply, by 10.61%.

Predictably, prices rose at different speeds across the country, with properties in the South East and London appreciating sharply by 8.77% and 7.48% respectively.

In Yorkshire and Humberside it was a buyer's market, with prices rising only 0.02%.

Below-inflation prices increases were registered in the North West (2.22%) and Wales (2.47%) as well.

Owners of flat and maisonettes saw the value of their properties rise the fastest - by 29% from an average of £98,323 in 1997 to 126,903 at the end of 1998.

During the last quarter of 1998, a semi-detached house cost on average:

  • North: £54,857
  • North West: £57,837
  • Yorkshire & Humberside: £52,411
  • Wales: £52,403
  • West Midlands: £60,717
  • East Midlands: £50,800
  • East Anglia: £59,882
  • South West: 120,839
  • Greater London: £144,094
New houses are all the rage with house buyers, while the owners of old terraced houses find it difficult to achieve high prices.

The Land Registry publishes its survey of the housing market in England and Wales every quarter.

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage | ©

The Economy Contents

Relevant Stories

23 Feb 99 | Your Money
A mortgage revolution

02 Feb 99 | The Economy
New Year rally in house prices

05 Jan 99 | The Economy
UK house prices fall again

In this section

Inquiry into energy provider loyalty

Brown considers IMF job

Chinese imports boost US trade gap

No longer Liffe as we know it

The growing threat of internet fraud

House passes US budget

Online share dealing triples

Rate fears as sales soar

Brown's bulging war-chest

Oil reaches nine-year high

UK unemployment falls again

Trade talks deadlocked

US inflation still subdued

Insolvent firms to get breathing space

Bank considered bigger rate rise

UK pay rising 'too fast'

Utilities face tough regulation

CBI's new chief named

US stocks hit highs after rate rise

US Fed raises rates

UK inflation creeps up

Row over the national shopping basket

Military airspace to be cut

TUC warns against following US

World growth accelerates

Union merger put in doubt

Japan's tentative economic recovery

EU fraud costs millions

CBI choice 'could wreck industrial relations'

WTO hails China deal

US business eyes Chinese market

Red tape task force

Websites and widgets

Guru predicts web surge

Malaysia's economy: The Sinatra Principle

Shell secures Iranian oil deal

Irish boom draws the Welsh

China deal to boost economy

US dream scenario continues

Japan's billion dollar spending spree