March figures show that the average price of a house in London hit record high of £376,605.

The recent data revealed by Acadametrics demonstrates this is £748 higher than the previous database records of February 2008, before the downturn of housing market.

The Acadametrics House Price Index, a weighted index of the other major indices, is recognized as one of the most trustworthy indicators of actual price fluctuations.

The compilers of this data think the most recent London figures prove that London housing market is extremely dynamic, which has helped the housing market get out of steep declines in the past.

The latest index doesn’t contradict the figures from Halifax in estimating that average UK house prices rose by 1.1% in March. However, Acadametrics Index claims this was the 11th consecutive month in which property prices have soared whereas Halifax points to a downslide in February.

According to Acadametrics, average prices have gained by 13.4% in 2009.

About 10,000 more house purchases were made in February than in January.

Nevertheless, the approximate level of 45,000 deals in February doesn’t reach the average of 51,570 houses acquisitions per month during last year, with the activity on the market remaining low.

Chairman of Acadametrics, Peter Williams also informed that the average price of a house experienced an increase again in March 2010.

Still, the number of deals remains rather low, which is why small pockets of demand can have more significant influence on price than in a more dynamic market.

The increase in the high value areas prices with transaction levels remaining pretty stable either suggests that prices in these areas have in fact jumped or that the higher value houses in these areas have been changing owners more often than usually. However, it may well be an interplay of both factors combined.


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