13th May 2015

 

The latest index from Home.co.uk has shown that asking prices throughout England and Wales have increased by 0.8% and Scotland has seen an increase of 0.7%. Over the last twelve months, England and Wales have experienced 7.5% growth in asking prices offering no signs that house price growth is slowing down.

 

Greater London is still rising sharply, up 9.6% year on year and 0.5% month on month to an average of £552,878 while the East of England region is also robust with an annual rise of 12.8% and a monthly rise of 2% to £330,990 suggesting Choices recommendation to invest in the region is still very true.

 

Asking price in England and Wales now averages £296,480 and in Scotland to £177,121 and with buyer activity increasing Home.co.uk suggest that prices will continue rising.

 

The index report also shows that the supply of property for sale is beginning to increase, up 4% year on year overall but up 22% in Greater London and the typical time on the market is up two days to 78 days over the last month across England and Wales, some nine days less than in May 2015.

 

We have seen that the Northern property markets are still due to rise and in some areas they still haven’t yet recovered to their 2007 peak. At Choices we constantly on the look out for the next area to invest in where we can buy cheap and expect a high level of capital growth. Give us a call on 01342 840050 to discuss your property search with one of our Investment Advisers or alternatively book to come to one of our Property Investment Seminars on our Events page.

 

Tom Stedman

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