Their combined findings show that the typical house in England and Wales has added more than £10,000* to its value since April – a clear indication that the market is steadily recovering from its post credit crunch slump.
Mark Pajak, Sales and Marketing Director for Taylor Wimpey South East says: “With each month that prices have risen, many analysts and media commentators have urged caution, warning that it’s too early to suggest that the increases can be viewed as a positive pattern.
“But after five to eight successive months of prices going up, the figures are starting to speak for themselves. Once again, people are putting their trust in property as a secure and prudent investment and this increasing confidence is clearly being reflected in the behaviour of the market.”
Those seeking a new home, whether as a first-time buyer or looking to trade up to a larger property, now find themselves in a superior position to take advantage of the current conditions.
While house prices are on the increase, the Land Registry reports that the value of the average home remains 15% lower than at the housing market’s previous peak in January 2008**.
“For would-be homeowners waiting for the right opportunity to step on or step up the property ladder, now is the perfect chance to make their move,” Mark Pajak adds.
“And by choosing a brand new Taylor Wimpey, George Wimpey or Bryant home, buyers can take advantage of today’s low prices – even if the market has risen again by the time they move in.
“If the market continues its recovery as expected, purchasers can look forward to watching their investment grow by thousands of pounds.”
Taylor Wimpey offers a range of time and money-saving incentives at its brand new homes developments across the South East including help with deposits, legal fees and stamp duty for first-time buyers, and assistance with selling an existing property and moving house for current homeowners.
Offers can be tailored to customers’ individual circumstances and are subject to availability. Further information is available from the Sales Executive at each Taylor Wimpey, George Wimpey or Bryant Homes development.
Information on developments across the region is available by calling 01732 836 000 or visiting the web site at www.taylorwimpey.co.uk.
* According to latest figures from the Land Registry, Nationwide and Halifax, the value of the average home in England and Wales since April 2009 has increased by £6,648, £10,903 and £13,174 respectively – an average of £10,241. Both the Land Registry and Halifax have reported house price increases for five successive months, while Nationwide has reported eight consecutive months of increases.
** Land Registry statistics record the price of the average home in October 2009 as £159,546 – 15.4% below the peak of £184,125 in January 2008.