House prices continued to grow in August

September 13, 2016

According to the LSL Property Services/ Acadata England & Wales House Price Index August 2016, average house prices now stand at £292,921 meaning the average homeowner is sitting on £12,101 more equity than this time last year.

House prices continued to grow in August but at a slower rate than in previous months.

Transaction levels present a mixed picture: although activity in England & Wales was lower than seen at this time last year.

In London both transactions and price growth have slowed in the most expensive boroughs however more affordable areas have outperformed.

Adrian Gill, director of Your Move and Reeds Rains estate agents, says: “The new market data shows us once again that there is no single housing market but the sentiment, we believe, remains singularly positive – there is demand for affordable property and there
are people who, bearing in mind the transaction volumes recorded, have the appetite to make a move.

“To maintain this momentum, however, it will be necessary for the government to provide continued support to consumers, housebuilders and the property industry as a whole and ultimately ensure that there are enough houses – and finance available – to help people realise their dreams of home ownership. Whether this will come when the Autumn Statement is announced is yet to be seen but no doubt many will hope it is yet again strongly positioned on the political agenda.”

To read the LSL Property Services/ Acadata England & Wales House Price Index, August 2016 in full click here

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Upfront information: homebuyers want confidence as much as speed

What movers want from upfront information, and it isn’t only speed Having a survey, legal pack and chain details before making an offer would help more than eight in ten respondents, according to LRG’s latest sales report Of the 553 who answered the question, 41% said they would offer with more confidence, although not necessarily…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

How Financial Anxiety Drains Entrepreneurial Energy

Financial anxiety can consume the attention and stamina that business owners need for planning, problem-solving and leading a team. A late payment, an unexpected tax bill or a weak sales month may trigger worry long after working hours have ended. Over time, that mental strain affects sleep, concentration and confidence. The answer starts with creating…
Read More →
Letting Agent Talk

How to future-proof a rental property for changing tenant expectations

Over the past decade or so, tenants have become far more discerning. For more and more people, renting is a long-term prospect and today’s tenants expect their homes to be as safe and comfortable as any home they would own themselves. And as legislation around standards and health and safety in the private rented sector…
Read More →
Breaking News

More than a third of homes undergo price reduction

The latest research from GetAgent.co.uk has revealed that more than a third (34.4%) of homes sold subject to contract (SSTC) across Britain’s major cities have undergone an asking price reduction, with this figure climbing to more than half in Bournemouth, raising questions over whether sellers, and their agents, are pricing their properties realistically when first…
Read More →
Breaking News

‘Explosion’ in e-signature use at Land Registry spells progress for homebuying reform

The number of e-signatures used at Land Registry has exploded in the latest quarter — jumping more than ten times in just three months to 643, Novus Strategy can reveal. Qualified Electronic Signatures (QES) are a central plank of the revolution unfolding in homebuying because they reduce friction and save time. It’s a combination of…
Read More →
Letting Agent Talk

The Flats Above the Shop Problem

Why residential property hidden inside commercial ownership keeps causing trouble By Adam Hills, Client Services Director, LRG Living Markets Somewhere in many commercial property portfolios sits a small collection of front doors that was never really part of the plan. Many large and small retailers inherit residential property portfolios by default as part of mixed-use…
Read More →