Average UK house price back above £200,000
Information released by the Communities and Local Government (CLG) shows that the average UK house price has now risen back above £200,000. While figures from November show that the rate of increase in the value of property in UK is starting to slow, prices in November were still 0.6% higher than the corresponding period in 2008. However, while house prices are starting to stabilise and consolidate there are signs of growing demand from buyers.
Bizarrely, many people believe that house prices in the UK could actually fall back in 2010 due to increased demand and increased availability. A lack of competition for individual properties, which many people believe is the reason why the average house price has increased so quickly, should at least hold back the final sale price of many properties.
It is ironic that the UK property market, or at least the average property price in the UK, has shown signs of recovery in the latter part of 2009 but could suffer because of increased demand and increased supply in 2010. Whether you could argue that the current average house price in the UK is unsustainable is open to debate but one thing is for sure, those who think that the property market is now back into the boom times may need to think again.
Share this..
Related stories
Why Are Overseas Investors Looking At The UK Property Market
The last few weeks has seen an increase in demand from overseas property investors for assets in the UK, with investors from Dubai very much at the front of the queue. So what is it about UK property which is attracting this overseas interest and will it continue?
Places like London have always held a special place in the minds and hearts of many in the property market. It offers...
Taylor Wimpy see signs of improvement in housing market
UK housing giant Taylor Wimpy has announced an improvement in the UK housing market after a very difficult period just prior to the election. It is well-known that sales in the weeks prior to the last general election fell although it would look as though interest has improved significantly since the new government moved into office. As a consequence, the company is likely to announce like for lik...
Read MorePoliticians call for London rent controls
21/08/2015 As London rent prices continue to increase, a group of politicians has called for more controls on landlords. In 18 of London’s 33 boroughs, the rent for a one bedroom flat exceeds £1,000 a month, and the cost of renting has risen by an average of 22% over the past five years. Most economists say that workers should pay around 30% of their salary on rent or mortgage payments, b...
Read MoreUK house prices rise by 0.2% in April
The average UK house priced increased by 0.2% in April leading to a rise of 8.5% over the last 12 months. However, on a regional basis there are major variations on the 8.5% annual increase and not every housing market in the UK is experiencing increased demand! The report by the Land Registry shows that Brighton and Hove has the highest year on year increase of 16.8%, Bristol is next on 15.9%...
Read MoreBudget 2010: Help is at hand for the UK property sector
Today's budget saw Alistair Darling, the Chancellor the Exchequer, announce a doubling of the stamp duty threshold from £125,000-£250,000 for 2010 and 2011. This is a welcome move and is forecast to impact upon property purchases by nine out of ten first-time buyers in the UK although there is a sting in the tail for those with properties worth in excess of £1 million. While increasing the s...
Read More