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House prices 'on the up in south-east England'

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House prices 'on the up in south-east England'

Property investors who are looking for opportunities to benefit from capital appreciation could benefit from arranging an overseas money transfer to the UK.

Figures from Halifax have indicated that many towns in London and south-east England experienced much greater rates of house price inflation during 2011.

For example, statistics showed that property values in Woking increased by 16 per cent last year, while the asking price of a home in Portsmouth went up by eight per cent.

This compared favourably with many towns in other parts of the country. Kettering, for instance, experienced a 15 per cent drop in house prices throughout 2011. Meanwhile, values slumped by 14 and 13 per cent in Hartlepool and Belfast respectively.

Foreign property buyers who are considering an investment in the UK may therefore find London and the south-east the best market to look at before transferring money from abroad and making a purchase.

Halifax's housing economist Martin Ellis commented: "These regions perform better economically.

"House prices outside southern England are expected to be constrained by these areas' generally weaker economic performance and their greater dependence on public sector employment."

Mr Ellis noted that throughout the last few months, house prices across the country as a whole have not altered significantly. However, he said the headline figure does not highlight the regional variations that are apparent around Britain, such as the strong performance in the south.

Woking's proximity to London and the good transport links between the two were identified as two of the main reasons why the property market in the Surrey town performed so well last year.

The findings from Halifax reinforce recently published data from the Land Registry. The group identified London as the only place in England and Wales to have seen average property values go up during the year to November 2011.

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