The Land Registry has reported that house prices continued their upwards trend in the UK last month.

House price inflation accounted for a 0.2 per cent increase in the average asking price of a UK property in August, while in the capital that figure rose to 1.5 per cent.

Taking into account the latest data, annual UK property appreciation currently stands at a healthy 9.4 per cent, with London enjoying spiralling growth of some 16.7 per cent.

Confirming the pre-eminence of the capital to UK property, the Land Registry's report stated: "London's average house price for August 2007 stands at £349,838 whereas the average price for England and Wales is £182,914."

The report also found that the borough with the highest level of house price inflation was up-market Kensington and Chelsea, which saw a whopping 29.2 per cent spike in property value over the past 12 months.

On a national level the north-east fared the worst, with a modest but still above-inflation increase of 5.1 per cent.

Installing double glazing can add to the value of your property, as well as cutting energy bills and reducing greenhouse gas emissions.

© Adfero Ltd

Author:  Joanne McCabe

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