House prices on their way to pre-recession peak

House prices in the UK have risen by an average of £11,914 in the last month, with total figures almost reaching their 2007 peak, says new research from the Land Registry.

The average house price in England and Wales has reached £177,299 following a 7.2% annual rise – just £4,500 off the £181,324 high listed in November 2007.

This follows a fall in value of 0.8% in the East Midlands in August, as owners and movers struggled to get a mortgage after the introduction of new lending rules.

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