UK home repossessions fell by 16 per cent last October

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LONDON (ShareCast) - House prices rose by 0.8 per cent month-on-month during November (Xetra: A0Z24E - news) , reaching an average property value of 162,080 pounds, according to the latest data released Tuesday by the Land Registry.

Versus a year ago prices increased by 1.7%.

The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months was London, with a movement of 8.4%.

London also experienced the greatest monthly rise, with an increase of 3.1%.

Repossession volumes, included for the first time in this month's report, decreased by 16% in October 2012 to 1,524 compared with 1,805 in the same period a year earlier.

All regions saw a decrease in repossessions between October 2011 and October 2012, ranging from 8% in the South East (HKSE: 0726.HK - news) to 35% in the North East.

AB