House prices continue to edge higher

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House prices in England and Wales rose for the fifth month in a row during October, with the average cost of a property up 0.6 per cent month on month to the highest levels since last November, according to the Land Registry.

The only areas to see falls were Wales – down 2.3 per cent – and the West Midlands – which was down 0.6 per cent. In London, house prices were just 0.2 per cent below where they were in October 2008, but in all other regions they are at least 1 per cent down on a year ago.