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Clegg heeds Carney's warning on housing boom

The Deputy Prime Minister told ITV News the government should listen to the Governor of the Bank of England's warning on the risks of booming house prices threatening the economic recovery.

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House prices up 12% in last five years

A graph shows average annual price changes in the last five years. Credit: Land Registry

Property prices in England and Wales have increased by 12% since they bottomed out five years ago.

According to figures from the Land Registry, average the value of the average home stood at £169,124 in March this year.

That is up from £150,490 in April 2009 - the lowest point following the crash that began a year earlier.

Price increases have been quickening as the economic recovery has taken hold, with stronger demand leading to a surge in values.

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