According to the Office for the Deputy Prime Minister, the average house price in the UK rose from £173,756 to £177,474 in July. This increase of just over 2% meant the annual total house price inflation rose to 14.3% in England.
There was a fall in Scotland, resulting with an annual figure of 22.3%.
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Whilst these statistics cannot be ignored, everywhere around the country houses are taking longer to sell. Many properties now have two agent boards on show and this is a huge indication that either supply is outstripping demand or buyers are not prepared to pay the asking prices.