House prices in England and Wales rose by 0.6 per cent in April, the Land Registry has announced.
The rise is thought to be driven by large increases in London, where people are increasingly renting with housemates because they can’t afford to buy. April house prices in London increased at more than twice the rate of the next closest region, rising 1.3 per cent over the month compared with a 1.1 per cent increase for Wales.
London's annual house price growth at 15.6% is also a long way ahead of the rest of England and Wales' regions, which is 9.6%.
As more and more people are priced out of the London housing market, more and more flatshare options are becoming available in London to the student and the professional alike. A flatshare is a relatively cheap way of living in a property, with housemates for company.
The Land Registry noted: "The April data shows the current rate of increase for London house prices is over six per cent per annum greater than that of England and Wales as a whole. This is the largest divergence in the last two years, when London lagged behind the rest of the country by approximately six per cent.”
