House prices rallied to new peak in May according to Your-Move
Your Move’s latest England and Wales house price index May 2017 headlined ‘A new north-south divide as northern regions drive transactions’ reveals: Sales of London homes to the end of April were 29 per cent lower than the same period last year.
House prices in the capital continued to rise, up 2.7 per cent in the year to April 2017, but this is the second lowest annual rise seen in London since March 2012.
Average house price in England & Wales during May reached new peak of £303,200 despite General Election uncertainty, average monthly change 0.3% and annual change 4.8%.
West Midlands remains region with highest growth in prices, strong growth in London prime property, Liverpool the ‘city to watch’.
Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “There was a lot of talk about housing from the parties in their election manifestos, it’s now time for those words to be put into action.
“The market remains resilient and there’s encouraging activity in the north, but we need to urgently address the serious blockages in house building holding back labour mobility and economic competitiveness in too many areas of the country.”
You May Also Enjoy
Homes on spooky street names like ‘bat’ and ‘hell’ sell for far above the national average
Why Mortgages Shouldn’t Only Be Accessible for 9–5 Workers
Property Sector is in ‘Wait and See’ Mode
Rightmove streamlines tenant move-in journey with Renter Checklist
Industry Reaction to Renters’ Rights Bill Becoming Law