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

 

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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