Property investment heads north and west says Home.co.uk

March 14, 2017
what is happening to house prices

Home.co.uk Asking Price Index for England and Wales March 2017 released today headlines ‘Demand heads north as London slumps’.

Year-on-year price appreciation for England and Wales has slipped to just 2.6%, month on month shows at +0.6%.

The summary section leads with – Stagflation in the UK property market looks highly likely this year.

Doug Shephard, Director at Home.co.uk says, “Hope springs eternal but a period of rapid, near double-digit growth in UK home prices is now a long way behind us.

“This year we see underperforming regions like London and the South East weighing heavily on the national figures, keeping growth merely at the pace of inflation or perhaps less, given the weakness of the pound post-Brexit. This situation may persist well into 2018 as oversupply in both the rental and sales sectors drags down property values.

“At the same time we observe property investment head north and west in search of rising rents and underlying asset values that are less prone to post-boom correction. This additional demand is welcome stimulus for these formerly lacklustre regions which have hitherto not made a meaningful recovery post-crisis. This investment- driven boost means marketing times have fallen considerably over the last year and prices are now firmly on the rise. The North West, North East, Yorkshire and Wales have all seen their average prices rise less than 10% over the last five years. With the added tailwind of low interest rates, 2017 and 2018 look set to be years of sustainable growth for these previously underperforming regions”.

Read the Home.co.uk Asking Price Index for England and Wales March 2017 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

Breaking News

Almost one in five first-time buyers seeking max 60% LTV mortgages

Almost one in three (31%) first-time buyers are opting for 90% LTV mortgages, and a further 10% are looking at 95% LTV options. This hints at many first-time buyers relying on 5-10% deposits. This translates to £13,650 to £27,300 at the average UK house price of £272,995 [source]. Almost one in five (17%) first-time buyers…
Read More →
Breaking News

Property values bounce back in October

The latest Halifax Property Index shows that: – House prices rose by +0.6% in October vs a fall of -0.3% in September Fourth time in last five months that the average price has increased Average property price now £299,862, edging up to a new record high Annual rate of growth rises to +1.9% (up from…
Read More →
Breaking News

UK house prices rise at fastest pace since January

House prices rose by +0.6% in October vs a fall of -0.3% in September Fourth time in last five months that the average price has increased Average property price now £299,862, edging up to a new record high Annual rate of growth rises to +1.9% (up from +1.3% in September) Mortgage approvals reach highest level…
Read More →
Rightmove logo
Breaking News

Rightmove accelerates AI product delivery to surface more potential sellers and buyers for agents

The UK’s largest property platform Rightmove is today announcing a series of AI developments for consumers and partners, to help agents reach more potential sellers, buyers and renters. There are currently 27 AI initiatives in development, as Rightmove makes AI technology central to its platform to benefit partners and home-movers. Four new developments – two…
Read More →
Estate Agent Talk

How to Pick the Best Option for your Business’ Broadband

Having a dependable broadband connection is crucial for any business. Whether you run a small office or a larger company, a slow or unstable connection can disrupt work, affect communication, and reduce productivity. Picking the right broadband package does not have to be complicated, but it does require careful thought about your business’s specific needs…
Read More →
bank of england interest rate
Breaking News

Bank of England Hold’s Interest Rates at 4%

With the Bank of England holding Interest Rates at 4%, here are some thoughts from the Industry. Matt Smith, Rightmove’s mortgages expert: “Ahead of one of the most widely anticipated and discussed Autumn Budgets of recent times, it was unlikely the Bank would go for another interest rate cut so close to the announcement and…
Read More →