Greater London, South East and East Midlands top the property market

4 February 2014

Property prices rose in most regions of Great Britain in the last quarter of 2013. Data from the Move with Us Market Review showed that the average asking price in Great Britain rose by 1.26% in the last quarter of 2013 to an average of £246,781. 
This was largely supported by rises in the South and the Midlands as property prices in the North dropped. The average asking price in the East Midlands reached the highest level for five years in November, hitting £182,505. 
This rise in property prices could be attributed to the lower level of listings the market has been experiencing recently. Across Great Britain the number of new properties coming on to the market has decreased each month since May 2013, reaching the lowest number on record at 48,009 in Q4 2013. 
The word on the street is, it’s a great time to sell. The benefit of putting your property on the market now is the increase in the number of buyers searching for a new home, partly due to the government’s Help to Buy scheme. Suitable properties have become like gold dust to potential home owners and often multiple buyers are bidding on the same property. The low listing levels are contributing to the steady rise in property prices that have been seen over much of Great Britain, giving sellers an advantage. 

Property prices rose in most regions of Great Britain in the last quarter of 2013. Data from the Move with Us Market Review showed that the average asking price in Great Britain rose by 1.26% in the last quarter of 2013 to an average of £246,781.

This was largely supported by rises in the South and the Midlands as property prices in the North dropped. The average asking price in the East Midlands reached the highest level for five years in November, hitting £182,505.

This rise in property prices could be attributed to the lower level of listings the market has been experiencing recently. Across Great Britain the number of new properties coming on to the market has decreased each month since May 2013, reaching the lowest number on record at 48,009 in Q4 2013.

The word on the street is, it’s a great time to sell. The benefit of putting your property on the market now is the increase in the number of buyers searching for a new home, partly due to the government’s Help to Buy scheme. Suitable properties have become like gold dust to potential home owners and often multiple buyers are bidding on the same property. The low listing levels are contributing to the steady rise in property prices that have been seen over much of Great Britain, giving sellers an advantage. 

 

Back to index