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Property prices 'rose in October'

Property prices 'rose in October'
Property prices in England and Wales rose last month, according to new figures from the Land Registry.

The organisation revealed that the average value of homes in the countries increased by 0.6 per cent over the period compared with September.

Now, the typical price of UK houses and flats stands at £159,546, the organisation said.

However, the yearly figures still show declines, with all regions in England and Wales showing falls in their 12-month values.

The West Midlands exhibited the most marked decline, with prices falling by 6.3 per cent.

As a whole, the annual change stood at minus 3.4 per cent, the Land Registry noted.

Earlier this month, chief executive officer of London Central Portfolio Naomi Heaton claimed that, due to falls in the prices of homes since the onset of the credit crunch, there is a "very specific window of opportunity" to invest in properties in the UK at present.