House prices in London have risen at a faster rate than anywhere else in the country. Hometrack, the property consultant, have reported that house prices in the UK overall have increased 0.4 per cent during February, compared to a 0.9 per cent increase for London houses. In central London the price of property rose by 1.6 per cent, meaning the average house price is now £436,800. "Prices are likely to continue to rise over the next month or so as a result of buyers returning to the market and supply remaining limited," said Richard Donnell, Hometrack director of research. Nevertheless Hometrack is reluctant to forecast substantial rises for the rest of 2006.

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