North/South property sales divide.
Righmove released today their House Price Index (HPI) headlined ‘North/south sales divide in the Autumn market’.
Price of property coming to market increases by 0.9% this month and sales agreed in September have recovered from summer lull.
Different areas of the country and different sectors are experiencing contrasting market conditions, with a north/south divide currently emerging in this year’s autumn market.
Miles Shipside, Rightmove director and housing market analyst comments: “After the referendum result and the usual summer slowdown, estate agents’ experiences appear to fall into one of two camps, with a definite north/south divide. Agents in the northern half of the country reported a quiet week or two after the surprise result of the Brexit vote, but most then saw a quick return to good levels of buyer enquiries and subsequent sales agreed. In contrast many in the southern regions saw more prolonged hesitancy among buyers, with it taking until September before a marked pick-up in activity. What has continued is the overall upwards trajectory in the average price of property coming to market, underpinned by years of inadequate new-build supply. After some price falls over the quieter summer period, the national average is now less than a couple of thousand pounds shy of its all-time high recorded in June.”
Read the Rightmove (HPI) report in full click here