Property market showing signs of recovery as asking prices rise

Prices rose 0.3% in January and by 0.5% in February, suggesting the market is picking up speed after the traditional winter lull.

 

Unusually, every single region across the country saw increases in asking prices. Increases of 1% or more were seen in Scotland (1.2%), London (1.1%) and the West Midlands (1.0%).

Larger properties were the main drivers of the price increases, with 5+ bedroom houses going on the market for 1.4% more than they were in the previous month, while 3+ bedroom flats were being marketed for 1.5% more.

UK house prices in March 2011:

     

Scotland                 £151,307        +1.2% 
London                   £437,579        +1.1% 
West Midlands      £174,390        +1.0% 
South East             £276,795        +0.8% 
South West            £237,673        +0.8% 
East of England     £213,169        +0.5% 
Yorks & Humber    £160,386        +0.4% 
North West            £162,764        +0.4% 
East Midlands       £171,316        +0.2% 
North East             £148,158        +0.2% 
Wales                    £171,726        +0.2% 
UK                          £218,522        +0.7% 

Samantha Baden, property analyst at FindaProperty.com, said: “The housing market has emerged from its winter hibernation and is beginning to recover. All the indicators are pointing the same way: the number of properties for sale has risen, they’re being sold quicker and vendors are asking for more money.

“We might expect prices to flatten off in the coming months as the impact of more stock starts to feed through.”

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One thought on “Property market showing signs of recovery as asking prices rise

  1. Pauldavey

    However according to a company with a fuller history of house prices and finance raised against them i deem it more appropriate to go with the figures of the “Nationwide”. Moreover if that’s just the case on rightmove then buyers should head for the high street agents, in my opinion!

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