Property prices keep accelerating

4th April 2014

The cost of a home in London soared by the biggest amount in more than a decade, according to the latestNationwide house price index.

Nationwide said that in the first three months of 2014, average house prices in London rose by 18% compared with the same period last year. The typical home in the capital now costs £362,699. Prices across the UK rose by 9.5% in March compared with the same month last year, the biggest rise in nearly four years. Nationally, the average property is now £180,264. Regions in the south of England recorded the fastest gains in property values. Prices in the outer South East areas were up by 10.1% year-on-year, while those in the outer Metropolitan areas rose by 10.6% to £273,998.

Source:   Financial Times (03/04/14)