When news happens, text KENEWS and your photos and videos to 80360. Or contact us by email or phone.
Outlook is 'positive' as house prices rise again
7:00am Tuesday 17th December 2013 in News
HOUSE prices in England and Wales are up 4.9 per cent from a year ago – taking the average price of a home to £238,839, according to figures published this week. In November alone prices increased by £1,400, the LSL/Acadata index shows.
Prices increased on an annual basis in all regions for the second month in a row, signalling a broad housing market recovery.
By the end of 2013 the index predicts that sales are set to be 16 per cent higher than in 2012, adding to the positive outlook for the residential property market.
The data from LSL follows a release from e.surv last week, which showed monthly home loans in November topped 70,000 for the first time since 2008.
“The housing market is almost unrecognisable from 12 months ago. Not only have average prices climbed to a new high but we’ve seen an increase in every region, a true sign that the nationwide recovery is really taking off,” said David Newnes, director of LSL Property Services.
“Competition is strong through rising demand and supply of new instructions not growing, a factor that will continue to prop up prices in the long term. Confidence is higher throughout the market, with the Help to Buy scheme and record low interest rates contributing to positivity.”
Comments are closed on this article.