House prices continued to grow in August
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