House prices at a record high

15 February 2016

monopoly money According to the folks at Rightmove, the asking prices from people selling houses have jumped to a record high. That's an average of nearly £300,000 on average this month. The exact figure they've come up with is £299,287 across the markets in England and Wales.

Last month, the average figure was £8,324 less, and the previous all-time high record was in October 2015, which was £2,738 less than the figure we've got now.

This all seems a bit gloomy, unless you work for an estate agents of course, ahem.

That said, Rightmove have said that we shouldn't be too brow beaten by all this, saying that the amount of homes with two bedrooms (or less) was up by 10% in February compared with the same month in 2015. You might not be able to afford them mind you - but there's more on the market for you to admire. Thanks, Rightmove. It does mean that the amount of them could see prices being curbed.

The property vendor's director Miles Shipside said: "Regions outperforming the national average with over 10% more newly marketed homes with two bedrooms or fewer are London, East, South East, South West, West Midlands, and Yorkshire and the Humber, and if this trend continues the increased competition among new sellers may help to temper price rises."

"More and more agents are reporting a healthy return in first-time buyer numbers, and with the cards increasingly stacked in their favour 2016 could prove to be the year of the first-time buyer."

"The new year's market has hit the ground running in many locations, continuing last year's momentum and resulting in the price of property coming to the market hitting a new high. Many agents reported high numbers of sales in November and December and properties selling more quickly, so it's encouraging to see signs of replenishment of property, especially in the first-time buyer sector."

"However, in spite of the apparent veneer of market buoyancy, those thinking of putting their property up for sale need to avoid being too optimistic with their initial asking price, as most buyers are still understandably being very selective about their future home."

TOPICS:   Home   Mortgages

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