Latest data from the Land Registry shows property prices are rising in all regions in England by a 3.4% average.

The chief UK economist at IHS Global Insight, Howard Archer, has said there is increasing danger that house prices could really take off as housing market activity and buyer interest improves.

In particular this could be increased further as the government’s Help to Buy Scheme takes effect. The scheme allows first time buyers to place a 5% deposit with a further 15% from the government when securing a mortgage.

Price rises in all regions

For September the land Registry data shows all regions in England have seen a rise in house prices raising fears of a new house price bubble.

Prices are higher by 3.4% for the year on average in England in contrast to Wales where property prices were down by 1.7% for the year.

For home movers leaving areas with the highest rising property values to areas with lower growth, they may have extra equity for a deposit to buy a larger home or can reduce their mortgage.

For England and Wales property values have increased by 1.5% to £167,063 but this figure remains below the high of November 2007 with average prices of £181,839.

London prices leading the country

In London property prices have increased by 9.3% in the year and 1.9% in September alone. Of the 1,143 properties sold for over £1 million, 801 were in London.

According to the Land Registry the average property price is £393,462 although there are significant differences across the capital.

For example, in Hackney prices are up 12.8%, Kensington and Chelsea 6.9% and in contrast Newham reduced by 2.5%.

House prices are likely to rise in the future allowing existing homeowners such as remortgage buyers giving them an opportunity to release capital which they can use to improve their home.

The rise in house prices allows the older equity release mortgage buyer to stay in their home while accessing the wealth in their property using this for any purpose such as improve your quality of life or pay university fees for grandchildren.

Taking London it would seem a house price boom has started which could lead to a housing bubble but this picture is reversed in other areas of the country.

In Wigan property prices have decreased by 4.6%, Doncaster by 4.1% and Hartlepool lower by 9.0% over the year.

What are your next steps?

Talk to our London City Mortgage brokers for advice if you remortgage your existing home and want the best mortgage deal or release capital, buying your first home, moving home or are a buy-to-let investor.

Learn more by using the equity release calculator, mortgage monthly cost calculators, and property value tracker chart. Start with a free mortgage quote or call us and we can take your details.

For older homeowners releasing equity from your property, our LCM mortgage advisers can recommend the lifetime mortgage, accessing wealth to repay an interest only mortgage or even buy a more expensive home.

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