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News - 1 August 2014

Property Price Freeze In June

 In a new report from The Land Registry, the average price of a home in England and Wales remained flat in June compared to the previous month, according to Land Registry figures.

 
There was no change month-on-month when the average was taken across all regions.
 
The potential London property bubble has also apparently been stopped, with the capital only recording a 0.1% price increase during June.
 
Average property prices across England and Wales are 6.4% higher than a year ago, which has taken typical home values to £172,011.
 
Despite the June cooling for the capital, the Land Registry said that the average property in London was up 16.4% in the last year.
 
Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The data also shows the construction boom continues in the residential sector. The report said that during April the number of completed house sales in England and Wales increased 29% to 66,659, compared with 51,022 in April 2013. It also found that the number of properties sold in England and Wales for more than £1m in April increased by 39% to 1,028 - from 740 in April last year.”
 
The Office for National Statistics (ONS) support these findings with figures that show that property prices in London rose 20.1% in the 12 months to May to £492,000, compared with a rise of 7.3% across the rest of England and Wales.
 
If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
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Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
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