Rightmove HPI September
Asking prices for houses in England and Wales saw their biggest rise in the month to mid-September for 13 years as cheap borrowing and a lack of properties on the market led to market “extremes”.
According to the Rightmove HPI overview, the price of property coming to market continues to rise at a time of year when historically there should still be a holiday-season pause. The average increase of £2,550 (+0.9%) is the largest rise in the month of September since 2002, and has resulted in a new national record of £294,834. This is 0.1% higher than the previous peak in July of this year.
The asking price for homes rose 0.9 percent, or £2,550, the biggest increase for the September period since 2002 — to a new record high of £294,834 according to a survey by Rightmove.
Price of property coming to market this month hits new national record, up 0.9% to £294,834, as demand is fuelled by cheap borrowing yet supply is limited by some home-owners’ reluctance to move
Property-rich getting richer:
Top 15 highest-priced counties all rise in price this month, by double the national average at 1.8%
These counties are all in the higher-priced southern regions which have all risen this month, driven by supply shortages with fewer home-owners selling
The lower-priced northern regions all fall, reducing would-be sellers’ ability to raise adequate funds to move and exacerbating supply shortages
New seller numbers are down on same period last year in both the north (-4.9%) and the south (-7.1%)
To see Rightmove HPI report in full: http://www.rightmove.co.uk/news/house-price-index
You May Also Enjoy
Best Budget Smartphones Under $200
Ten years on: More first-time buyers moving to cities while the coast stands still
Homeowners in England and Wales overvalue their properties by an average of 16%
Emergency Sidewalk Repairs: When to Act and Who to Call
Reapit report reveals agents’ long-term market confidence amid legislative challenges
