London leads surge in property prices
Housing: Builder stays cautious on prospects despite rising profits and volumes as improved market fails to help brick-maker
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Both Barratt and Ibstock will take comfort from reports issued yesterday which suggest better times ahead for the construction industry.
According to the Land Registry, all types of property increased in value in the three months to June, the latest figures available, with some parts of the market experiencing boom conditions not seen for almost a decade. While the average detached house rose a modest 1.77 per cent in the quarter, and the average terraced house 2.15 per cent, new terraced houses and new flats increased by 13.6 per cent and 17.7 per cent respectively.
Greater London led the surge, with the price of the average London property breaking through the pounds 100,000 barrier after a 5.5 per cent rise in the three month period.
The latest research from Cambridge Econometrics on the construction industry also gave grounds for optimism. According to the half-yearly report, construction output is expected to stop falling this year with modest growth of about 0.5 per cent. Growth of more than 3 per cent is forecast for 1997 and 1998.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments