Uk Property Prices Increase...

October 23rd 2013
By: Melanie

Since the announcement of the second part of the Government Help to Buy scheme, mortgage availability has been at the best it has been for years, which has had a positive impact on the property market, nationally house prices across the UK have risen by 2.8% in October compared to September 2013.

House prices in the East Anglia have increased by 2.3%, and outside of London the biggest house rise has been experienced in the East Midlands where they have seen property rises of 4.1%, £7,000. However some areas of the UK, including Wales and the West Midlands have fallen 1.7% and 3.2% respectively.

Although property prices have risen since September, they are still 2.1% behind their peak in July this year.

Rightmove's director Miles shipside stated that the main reason for the fall in the capital last month was down to fewer sellers entering the market place.

He continued: 'However, this month's rebound in the number of sellers brings the quarterly growth figure back into line with the recent trend at around 2 per cent a month.

'Although not sustainable in the longer term, some agents currently report there is a buying frenzy in parts of prime inner London, with available stock so low that their shelves are now bare. '

If you are looking at selling or buying why not pop into your local branch of Intercounty for a chat and a coffee.