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Positive signs for the UK property market

Author: Craig Bees Published: 15th May 2018 10:34

Positive signs for the UK property marketPositive signs for the UK property market

With the sunshine comes good news for homeowners as the UK property market shook off fears of negative growth and rose in the first quarter of this year.

A first quarter average growth of 1.27% was recorded in property prices equating to an average daily increase in value of £44 meaning an average of £3,917 was added to the price tag of a home.

This resulted in a collective growth of £114 billion, taking the overall value of UK property to a staggering £8.3 trillion - new figures in stark contrast to reports from the same period last year when the collective value of UK homes fell by £29 billion.
 
The North West region saw the largest growth during the first quarter of 2018 with an increase of 1.85% (£3,552) taking the average value of a home in the region to £192,397.
 
Following closely behind were the East Midlands and Yorkshire&Humber, both seeing a rise in value of 1.58% taking their average house prices to £212,557 and £174,353, respectively.
 
At the other end of the table are Wales and Scotland, where property prices showed the smallest rise - Welsh homes grew in value by 0.11%, only a £203 increase with average values now standing at £186,053. Scotland fared slightly better showing a 0.17% increase of £331 to £189,297.
 
While the national average for house price growth stood at 1.27%, there were some areas of the UK that saw more than double the average in increases. Sidcup in Kent, Heathfield in East Sussex and Wallingford in Oxfordshire all recorded growth of 2.84% or higher and added more than £11,000 to their property’s price tag.
Top tips when buying a home: thanks for all the feedback to our last column on this subject, all your comments and ideas welcome.

Monthly draw: your chance to win a case of Italian wines (red/whites/mixed) or one month’s membership to Whittlebury Hall Leisure Club.

How To Enter: Every valuation and instruction for sale or rental between now and Wednesday May 30 will be entered into the draw, the winners being notified by e-mail.

So if you’re thinking of selling or letting your property and want to win one of these great prizes on offer call (01327) 359164 and speak to our sales or lettings team.

Towcester Property News: May issue out now - don’t miss out on your copy.

Until next time.

Craig Bees, MD Bartram & Co

E-mail me at craigbees@bartramandco.co.uk


 
Visit our website www.bartramandco.co.uk and follow us on Twitter@bartramandcotow



Tel: (01327) 359164


Fax: (01327) 359166

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