DLCG measures strong growth |
The Department for Communities and Local Government (DCLG) has released information today showing that the annual rate of property price growth was 6% in July this year. This figure was up from the 5.3% for June.
This means that in July 2006, the average house price stood at £194,454.
The DCLG has replaced the Office of the Deputy Prime Minister (ODPM) and is headed by Ruth Kelly.
House price inflation was higher than average in London, which had an annual increase figure of 7.1% in July.
The DCLG also stated that "The average price paid by first time buyers across the whole of the UK was £150,252 in June, while the average price paid by former owner occupiers was £213,309."