Live updates

Another record high for house prices in the East

House prices have hit a record high in the east. Credit: ITV News Anglia.

House prices in the East of England have hit another record high.

The average cost of a home in this region is now £263,000, according to the latest figures from the Office for National Statistics (ONS).

In the East, the House Price Index - which measures how house prices change from one sale to the next - is now above its pre-financial crisis peak.

The charity Shelter has warned prices are "spiralling out of control".

Advertisement

House prices on the rise in the East

House prices are going up. Credit: ITV News Anglia

House prices in the East hit a record high in July, according to figures out today.

The House Price Index reveals an increase of nearly 3% in our region compared to the same time last year - the highest rise outside London, with first time buyers accounting for 45% of all purchases.

House prices on the rise

House prices jumped last month Credit: ITV News Anglia

House prices in East Anglia have recorded the biggest month-on-month asking price jump according to the property website Rightmove.

They say prices in the East jumped up by 4.4 per cent. It means the average house here is now selling for over £224,538.

Across England and Wales, London was the only region where asking prices took a dip in April, falling by 0.5%, although at £493,635 on average they are still 6.2% higher than a year ago

Rightmove, whose records go back for more than a decade, tipped next month for a new asking price high, as a combination of confidence returning to the market this spring and a shortage of properties for sale continue their upward pressure on prices.

Miles Shipside, director of Rightmove, said: "With London prices pausing for breath this month but likely to bounce back next, May looks like an odds-on bet to deliver a new asking price record. More estate agents are reporting more activity in more segments of the market."

Advertisement

House prices remain flat in East Anglia

House prices in the Anglia region remained stagnant Credit: Dominic Lipinski/PA Wire/Press Association Images

UK house prices may have seen an increase for the first time in nine months in February - but prices in the Anglia region remained stagnant.

Property analyst Hometrack spoke to more than 1,000 agents and surveyors, some of them reporting that the market conditions were less buoyant than they were expecting. Monthly prices were flat in East Anglia, along with the Midlands.

House prices remain flat in the East

House prices in the East remain flat Credit: PA

UK house prices may have seen an increase for the first time in nine months in February - but prices in the Anglia region remained stagnant.

Property analyst Hometrack says London saw month-on-month rises of 0.3%, leading to a 0.1% increase across England and Wales.

However monthly prices were flat in East Anglia, the East Midlands. Prices fell in the North East by 0.2%.

Load more updates