Qualified advisers answering your
Financial Questions
call 0800 092 1245

Another House Price rise takes London average past £500k

According to property website Rightmove, average house prices across the UK have risen for the fifth consecutive month, while average prices in the capital have surpassed half a million pounds.

This year the property market has had its strongest start since 2004, and prices are now an average of 9.1pc higher than at the end of 2012. All regions across the UK also posted positive results, highlighting the gathering momentum the property market is gaining.

Two separate records have been broken this month, with the average price of a house in the UK now just shy of £250,000, beating the previous record from June 2012, and the average price in London smashing through the £500,000 barrier for the first time.

Miles Shipside, director and housing market analyst at Rightmove, explains: “The tumbling of records is being driven by the equity-rich older generation and has a definite southern bias”.

The fact that prices in London are rising so quickly in comparison to the rest of the country has led to concern for many, with most other areas remaining price-sensitive and buyers still looking to buy property which is going to maintain future value.

“For those now looking to buy, the recession appears to have precipitated a change in buyer behaviour. Not only are they looking for value and being mindful of paying over the odds, prospective buyers are giving thought to ease of resale, a sign that the pain of this financial crisis has left them much more mindful of the future liquidity in their assets”, Shipside added.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details