THE price of homes in Swindon is on the up, but only half as fast as the in rest of the south west.

The average price of a house in the town has risen by 4.3 per cent in the last year, making the price of an average house £171,287.

The latest figures, from the Land Registry show that detached homes now cost £267,311, which is up more than £9,000 on last year.

But semi-detached houses have dropped in value by more than £2,000, to £162,097.

Prices in Swindon are growing only half as fast as in the whole south west region, which experienced average price rises of 9.1 per cent over the year.

Across Wiltshire as a whole, the average price of a home has climbed 6.9 per cent.

Nationally, prices saw an eight per cent rise, making the average cost of a home in England and Wales £206,414.

Phil Reeve, the director of Philip Andrews estate agents, in Devizes Road, said he had experienced much higher price rises.

"I would say we are talking about a 10 to 12 per cent increase in Swindon," he said.

"The biggest increase has been in the price of one and two-bedroom starter properties."

The Land Registry figures show that the cheapest property sold in the town last year cost £30,000 and the most expensive cost £1m.

"I would seriously doubt the quality of a property for that low price," said Mr Reeve.

"The cheapest property on our books is £92,950.

"Our most expensive is currently £425,000. You don't see many £1m homes in Swindon."

Matthew James, from Haywoods estate agents at the West Swindon District Centre, said the market could change dramatically in the coming year.

"What is really going to shake things up is the introduction of the Home Information Packs in June," he said.

"There will be a lot more houses on the market in April and May because people will want to sell before the legislation comes in.

"This might not make much difference to prices, but will mean there'll be a lot more choice of properties out there."

From June, homeowners wanting to sell up will have to give buyers information on the energy efficiency of their homes, which could cost hundreds of pounds, or stop less economical homes selling.

"If you are looking to buy then April and May is the time to do it. If you are looking to sell then do it now," said Mr James.

Swindon's Nationwide Building Society figures released last month showed a cooling off in the town's housing market.

Economists, predicting another interest rise in the near future, said that they expect property sales to slow down even more in the second half of 2007.

For more information on the price houses in your area have sold for in the last year visit www.thisishouseprices.co.uk.