Rightmove HPI October 2015

October 19, 2015

Rightmove October HPI highlights that First-time buyer prices surge nearly 10% in a year.
Highest ever national average price of property coming to market, up by 0.6% (+£1,715) this month to £296,549- and 5.6% more expensive than a year ago.
New record fuelled by high demand for first-time-buyer properties, with prices up 4.9% on last month and 9.6% (+£16,105) over the past 12 months.
Vicious circle as high tenant demand leads buy-to-let investors to go head-to-head with first-time-buyers.
Many letting agents report ‘same-day’ rentals and little or no property to rent.
Number of first-time-buyer properties (two bedrooms or fewer) coming to market down by 8% on same period a year ago, exacerbated by first-time sellers struggling with second-step price gap.
Rightmove advises first-time buyers how to get on a level playing field versus landlords by winning over the hearts, minds and pockets of sellers.

Visit rightmove website to see full HPI report and comments from Miles Shipside, Rightmove director and housing market analyst. http://www.rightmove.co.uk/news/house-price-index/october-2015

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.

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