2010.09.2807:21:00UTC+00England & Wales House Price Growth Slows: Land Registry

House prices in all of England & Wales grew at a slower pace in August, data from Land Registry showed Tuesday.

Prices rose 0.3% month-on-month in August, slower than 0.6% in July. It was the fifth straight month of increase. The average house prices was GBP 167,423 compared with July's GBP 166,978.

Year-on-year, the increase was 6.7%, a tad slower than 6.8% in the previous month. It was the slowest pace since January and the tenth consecutive month of increase.

Land Registry, however, noted that sales volumes increased from last year. Transaction volumes averaged 53,089 per month between March to June, up from 43,825 in the same period last year.

Prices in London rose 0.9% month-on-month in August, taking the average property price to GBP 345,734. It was the sixth month in a row in which the capital's monthly movement was greater than zero. The annual change was at 11.4% for August.

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