London house price average jumps 1.7%

Monday, 18 April 2011 02:08

London remains the exception in the property market, as buyer demand from home and abroad pushes asking house prices to a new record of £431,013 - despite 15% more properties going up for sale than during the same period last year. It's thought that 'Spring sellers' and a thriving international market helped lift the average price to 15% higher than April last year and 59% up on 2009.

The buoyant market conditions have encouraged more sellers onto the market, with seller numbers are up 15% on April last year, up from an average of 4,208 per week to 4,836.

The strength of demand has meant that only three boroughs out of 32 have recorded monthly asking price
falls, with only Westminster, Islington and Hillingdon showing marginal reverses.

Miles Shipside, director of Rightmove, said: “This is not like the most recent boom where easy credit and record bonus pay-outs led to large increases in asking prices every month.

“This time it’s crept up on the market, with prices fluctuating month-to-month but overall driven by an ongoing shortage of property being outstripped by consistent demand.” 

House prices start to look up in January market

UK house prices have risen by an average of 0.3 per cent during the past month, according to the latest House Price Index from Rightmove, which indicates a much more competitive market developing in the New Year.

London and the south 'prop up property market'

The latest house sale figures from Rightmove shows sales of premium property in London and the south is boosting the UK average house price. In fact, property prices in the south (£336,743) are now more than double those in the north (£164,347).

House prices fall again at the end of 2011

The average price of a new home is now £195,166, 9.26% less than at the peak of the market in October 2007, when the average price was £215,089. 2011 ended down 1% month-on-month, 0.1% year-on-year, marking the end of a stable yet disappointing year.

Camden top performing London location on house price index

Camden topped the list of London locations to record a dominant house price rise for June. According to the Rightmove house price index the trendy London area of Camden saw a house price rise of 3.1 per cent between May and June.

Average house price in England and Wales falls again

There's more bad news for anyone with a property portfolio as new figures show house prices fell again in February, down 0.8% since January. The average house price in England and Wales is now £162,215, the Land Registry House Price Index shows.

 

Luxury Property

House Prices