Property in England sees price increases

Property prices in England and Wales have shot up by 5.2 per cent in the space of a year, according to new Land Registry figures.

In news that points towards the continued resurgence of the housing market in the country, the cost of property in January this year posted gains in comparison to 2009.

It represents one of the largest monthly increases that the registry has reported since growth began again midway through last year and is the second consecutive month that the figure has been positive.

Some of the biggest rises were seen in the south-west region of the country.

A spokesperson for the Land Registry told Reuters: "While not all regions are recovering at the same rate, it is clear that overall prices are increasing."

According to a recent report conducted by property developer Knight Frank, sales of newly-completed projects in London rose by a staggering 214 per cent during the final quarter of 2009, compared with the previous year.

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