Latest figures released by the Land Registry shows a price rise in the East of England of 13.3% over the past year.
House prices in the area Aldreds cover have clearly risen over the last 12 months but on average by nowhere near the 13.3% quoted by the land registry. So what causes this inconsistency?
The East of England will include property hot beds such as Cambridge, Norwich and the commuter belt in to London. House prices in these areas have been rising way above the national average.
As I have written before, we have never seen such inconsistency and inequality between different areas and housing market. While London, the East and South East has surged places such as South Wales and parts of the North East have stagnated or even continued to fall back.
House price data needs to be looked at generally and one should not presume that the figures quoted are correct to their property or even their area.