PROPERTY NEWS: Latest figures show strong and stable house sales and lettings
New house price figures revealed by the government show the market performing more strongly than expected. The average UK home now costs £218,000, which is £13,000 up on this time last year. This means house prices have been rising continuously in the UK since the end of 2013, despite concerns over the Brexit vote and economic growth.
The key points from the latest figures are:
- in the south west region, prices of homes on sale rose 5.1 per cent in the past year;
- across the whole of the UK, the average annual increase was 6.2 per cent;
- however, average rents in the south west rose 2.3 per cent in the past year, slightly more than the all-UK figure.These figures mirror similar housing market growth reported by the Halifax and Nationwide mortgage firms and by the Rightmove property portal.