Monday, 23 October 2017

House prices start to move up as market rekindles

HOUSE sellers are now demanding more than ever for their properties as confidence continues to flood back to the market.

HOUSE sellers are now demanding more than ever for their properties as confidence continues to flood back to the market.

Property website Rightmove revealed that a 2.1 per cent month-on-month rise pushed average prices to £249,841 in May, with new record highs set in London, the South East and East Anglia.

The new national peak is around £3,600 greater than the previous high which was recorded in June 2012, while it has also been the strongest start to a year since 2004 in terms of asking prices, with average prices up by 9.1 per cent or more than £20,000 so far. Prices rose month-on-month in every region across England and Wales as most estate agents reported a strengthening of demand.

The North saw the strongest monthly increase, with a 4.2 per cent rise pushing typical asking prices to £152,689. But, despite this, Rightmove claimed the new records were predominantly being driven by “a definite southern bias”.

East Anglia saw the second strongest month-on-month growth, with a four per cent rise taking average prices to £233,447, while asking prices in the South East lifted to £325,489. Prices in London, meanwhile, surged past the half a million pound milestone for the first time, standing at £509,870 typically. Rightmove claims government schemes to help potential buyers get on the property ladder are allowing sellers to stand firm on asking prices, while a shortage of homes up for sale is also having an effect.

More News:

Latest video from

VIDEO: WW2 battles relived at Mapledurham
 

POLL: Have your say