House prices

[CFoster]

House asking prices hit a new high with sellers demanding on average 2.6 per cent more than last month's record £255,962

This month’s figure of £262,594 is 7.3 per cent up on last year
In London the average asking price has risen by a staggering 15.9 per cent
Asking prices were also at record highs of £335,142 in the South East

 

[totallyproperty]

Hi Carol

These increases cannot carry on for much longer - while some investors may have deep pockets they are stretching the finances of the man and woman on the street. I only hope that UK real estate prices start to slow soon otherwise we WILL be in for a worrying correction at some stage.

Regards,

Mark

 

[sergerybrin]

Real estate business improves day by day.It is more difficult to say you can buy those property you like and on low rate ...If you want to buy with sufficient rates then you should contact with an agent .Because house prices increase day by day...

 

[Luke Masters]

I agree slow and steady growth or flat consolidation are both positive, aggressive growth is concerning as it is unsustainable. I was hoping to be honest to see at year end 2016 a circa 5% increase in prices maximum for me to consider everything stable, however from that figure it may well not be by the looks of it..

 

[nmb]

Fear and greed are the two main factors which cause the majority of volatility in worldwide property markets. I agree, lower constant long-term growth in property prices would be the perfect scenario. However, without human emotions such as fear and greed would there be anywhere near as many oversold/overbought investment opportunities for those with a clear head?

 

[gih_hk]

Based on our research from Halifax and Rightmove, the next 5 years has these figures for London property prices:

2016: 5%
2017: 4.5%
2018: 4.5%
2019: 4%
2020: 3%

Of course, things can still change especially if we factor in Stamp Duty and interest rates which are currently at record low numbers. The average property in London this year is now a little over half a million £.

Anyone else has new figures to share?

- GIHLondon