UK prices increase with rise in price of average London homes

uk-price-leapUK house prices has got increased by 6.1% in this year till last month with London and the South in leading, whereas it was 5.5% in August with average UK property price to £286,000 according to a survey. The East and South East have got increased largely by 8.4% and 7.4% respectively. London prices have increased by 7.2% in this month from 5.4% in August, which now is £531,000.

Expert says: “The average house price in London is now £531,000 at the highest, even if buyers can save up the deposit required, their income may not support such a large mortgage, making it very difficult to buy on own. The scale of the gap between house prices in different regions of the country demonstrates the need not only to build more homes, but also to make sure that more properties are built of the right size and in the right places. In short, there need to be supply in line for the demand.”

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