Nicholas Ayre, director of UK buying agent Home Fusion, said: “There is neither rhyme nor reason to the property market at present. Against a still grim economic backdrop, prices overall, according to this latest data, have risen over the past month and year respectively.
“What the CLG data underline categorically is the stark regional variations in prices. Prices in London, where supply is tight and demand relatively strong, are the polar opposite to those in Wales and Northern Ireland. The property market, very clearly, has fragmented into a series of micro-markets. It could be many years before we see the return of a property market that trends at a national level.”