Property prices up over £303,000 in England and Wales

oneHouse prices in England and Wales reach new peak of over £303,000. According to the Your Move data, This was a month on month rise of 0.3% and year on year prices were up £13,934 or 4.8%. Activity remained relatively strong with sales just slightly lower than usual for the season but still up 6% on April, with an estimated 62,500 sales. There has been a sharp slowdown in sales in London, the South East and East of England but this increasingly being offset by more resilient performance in the North.

Oliver Blake, managing director of Your Move and Reeds Rains estate agents: “The market remains resilient and there’s encouraging activity in the North, but we need to urgently address the serious blockages in house building holding back labor mobility and economic competitiveness in too many areas of the country. Sales were up 13% in Wales, 10% in the North East, 7% in Yorkshire and Humberside, 6% in the West Midlands and 4% in the East Midlands in the end of April 2017 compared to the same period in 2015. The City of London, meanwhile, saw the biggest monthly increase, up 9.6% to £998,709, while the best performing borough is Haringey with prices up 12.5%, driven by increases in flat prices. Overall, every region in England and Wales has grown in the last year, with the East of England also up 5.1%, The East Midlands up 4.4%, the South West up 4.2% and South East up 4.1%. Increased Help to Buy activity is supporting the lower end of the market in North Liverpool, while high value new build sales in south Liverpool are boosting activity in properties priced from £300,000 up to £500,000.”

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