House Prices on the Move
Recent statistics suggest that the housing market is showing price increases across the country. The North appears to be leading the way although the London area also saw increases.
Interestingly there are some quite strong regional disparities with property values increasing by 300% more in Yorkshire as in south-east England.
Information from the Land Registry also suggests things have picked up after the recent General Election with London prices rising 1.6%.
Collectively this means that all regions saw a positive annual growth rate for the first time since February 2018.
As the BBC recently reported, UK average house prices increased by 2.2% over the year to December 2019, up from 1.7% in the previous month.
According to the Office for National Statistics: “Over the past three years, there has been a general slowdown in UK house price growth (driven mainly by a slowdown in the South and East of England), but there has been a pickup in annual growth since July 2019.”
The average UK house price of £235,000 in December 2019, is up £5,000 on the previous year.
If you are considering moving home, buying a second home or a buy-to-let, contact our Residential Property Team on 0800 302 9448 , who will be happy to help.