London Still Outperform UK

London continues to outperform rest of UK

London has continued to outperform other areas of the country in terms of property values, according to new figures from the Land Registry.

Increases in the capital and the rest of the south-east have now risen more quickly than the rest of the UK for eight consecutive months.

October's statistics suggest that property prices rose by 1.6 per cent in London and 1.9 per cent in the rest of the south-east, causing annual inflation figures for the regions to rise to 9.6 per cent and 8.1 per cent respectively.

Ed Stansfield, property economist for Capital Economics, told the Guardian: "The Land Registry statistics are entirely consistent with all other data showing strong growth.

"At a regional level there seems to be a touching up, with less divergence across the regions."

According to the survey, the average property in England and Wales is now valued at £171,709, following a nationwide increase of 1.2 per cent for the month.

The Land Registry finished gathering data on 18 million titles in 2002.

Its aims are to maintain an effective land registry system, guarantee owenership of registered estates and provide easily accessible and up-to-date information on registered land to UK residents.