South West house price inflation slows to 5.3%
The Government has just released the latest house price index summary, which relates to June, and reveals a favourable result for South West house prices.
Within the mass of information released is the fact that the average price of a house in the South West is now £246,159, a 5.3% annual increase (down from a 5.5% annual increase in May).
The average price of a house in the South West has increased by just over £2,000 in the last month and to most owners of property this means that if the property was sold, it would be a tax free receipt.
The annual percentage increase in the South West compares favourably across the UK with the East Midlands, East of England and North West being the only regions that increased by a higher percentage. The South West has increased at a greater rate than London and the South East.