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Location links to the price of your house

Official statistics on property prices have presented some areas of the UK rising in value, with others falling. London homes are rising fastest in value, up 4.9% in the past year, compared to a national average of 1.4%. Prices in the North West of England dropped 1.3% (Office for National Statistics).

Northern Ireland showed the largest drop, down 8.1% over the year, Wales and Scotland also presented a decrease, 1.1% and 0.3% over the same time.

The increase in London is believed to stem from continued overseas investment and high levels of domestic demand, similarly in the South East and South West that saw annual prices go up by 2.1% and 1.6. In April, London remained the region with the highest average house price at £388,000. The North East had the lowest at £145,000. Average property prices were £151,000 in Wales, £129,000 in Northern Ireland and £178,000 in Scotland in April. The UK average price was £229,000for the year (Office for National Statistics).

The forecast for the rest of the year may not be as attractive with summer months known for holidaymaking and events like the Euros and Olympics drawing people to their TV screens rather than home hunting.

The house price data is now compiled by the Office for National Statistics who took over from the Department for Communities and Local Government earlier this year.

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