Know your area for property market success

Monday, 19 December 2011 12:26

Whether you are selling or buying in 2012, being flexible about your location is a great way to get a good price. Figures from Rightmove show the UK property market is increasingly fragmented, with the south on the up as the north struggles.

The figures also showed that 2011 ended with a 2.7% drop in average asking prices across the country in December to leave prices marginally up year-on-year (+1.5%). The market is still awaiting the affect of the Eurozone crisis on property prices and experts are uncertain if it will just be a minor blip or a Lehman Brothers-style derailing.

While they expect average house prices to rise 2% overall next year, this will mainly be bolstered by sales in the south of England. Currently, new seller average asking prices are up by 4.7% year-on-year in East Anglia, South West, South East and London areas.

Miles Shipside, director of Rightmove, said: “It is clear that in these turbulent times the UK housing market is made up of many fragmented micro-markets that are performing very differently. Those that are involved in buying or selling next year need to understand their local market dynamics to help them deliver the right recipe for success.”

Britons ‘optimistic’ about property holding its value

Nearly a third of Londoners expect house prices to be higher a year from now, compared with around a fifth of people across the country, a new study published by property portal, Rightmove, suggests.

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).

Eurozone crisis threatens to 'stifle' UK property market

The current crisis in Europe will mean it will continue to be difficult to get a mortgage in 2012 - but experts still expect average house prices to rise, bulked up by a thriving market in London.

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.

Latest house prices show further North/South divide

The north/south divide in the property market has widened yet again, with prestige property in the south improving in value, while homeowners in the north struggle to sell. The average home in London is now worth £416,890, up £9,283.

 

Luxury Property

House Prices