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LSL say strongest September since 2007

According to LSL Property Services, last month was the strongest

September since 2007 for home sales, with a distinctive divide between

the north and south transactions.

A shortage of stock on the market in the south is slowing activity but

increasing the prices.  Less expensive areas in the north regions are

experiencing a fast growth in property sales.

Overall, average house prices across England and Wales have risen

£11,500 in the last year, after almost 4 years of annual growth.

September’s monthly price increase takes property values to a record

£284,742.

A spokesman from LSL says: “The most frequently paid property price

across England and Wales is just £125,000, mirroring the level at which

stamp duty becomes payable, and reflecting the impetus that has been

injected in the first-time buyer market recently.

“It is also the lower to mid-range properties priced between £180,000 and

£360,000 which are seeing the fastest increases in value, while the shift in

stamp duty bands continues to slow growth at the higher end of the

market, and prices above £600,000 are largely stationary.”

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